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the U.S. Labor Department released the jobs report for May 06-06-2020

The numbers showed an incredible jump of 2.5 million individuals that were added to payrolls and a drop of the unemployment rate to 13.3%. These two reports were the necessary fuel to ignite U.S. equities too much higher values. It also was the underlying cause for gold to lose a little over $60 on the week. Breaking below the key $1700 level.  gold futures basis the most active August contract is currently at $1688.60. Today’s decline was even sharper than Wednesday with gold giving up $38.80, which is a net decline of 2.25%