Gold falls back as Yen slides on US jobs report

There have been so many reactions to the latest US jobs report that I cannot cover them fast enough here, but in essence this has chucked a fly in the ointment for the US stock market opening today and sent US yields sharply higher. The Yen has crumbled and the dollar generally is jumping back across the board. All that has dented Gold prices too and the metal has now fallen back below $2,040. It could easily come unstuck further if those dynamics continue to play out. The truth is that no one expected a jobs report like that and it has completely shifted the dynamics for the US opening this afternoon. Gold is currently trading at $2,036.50