GOLD

Gold edged higher on speculation that Fed would slow the pace of its stimulus tapering after a weak U.S. jobs report raised questions over the state of economic recovery.

Silver moved higher overnight to open at the session high of 20.27/20.32. It retreated to a low of 20.07/20.12 prior to concluding the session at 20.10/20.15.
Silver closed unchanged today at 20.10. Despite breaking up through a daily downtrend last week, silver is still lacking in momentum. RSI has moved higher to 54.90, but needs to break through resistance at 57.28, the January high. Price resistance is at the top of the range at 20.64, with support at the low of 18.83.
The gold-silver ratio is trading higher at 63.55. After a big drop last week, it has found some support in the high 62's. There is strong support from the uptrend which currently comes in at 61.70. Resistance is at the recent high of 65.37.
Silver gained as traders reassessed their expectations for how quickly Fed will roll back its stimulus program following the release of mixed U.S. employment data.
Mixed U.S. employment report forced investors to recalibrate their assumptions about the future course of the Federal Reserve's monetary policy.
Data on Friday showed that the U.S. economy added 113,000 jobs in January, well below expectations for jobs growth of 185,000.

Yet the report also showed that the number of people participating in the labor force edged up to 63% from a 30-year low of 62.8% last month, while the unemployment rate unexpectedly ticked down to a five year low 6.6% from 6.7% in December.

Commodity Contract S2 S1 R1 R2

Armed protestors have occupied oil facilities in Libya up until recently, and exports from the Middle Eastern nation are normalizing.