Unquestionably, tomorrow’s release of the U.S. Labor Department’s jobs report for August will be a critical component that will shape and determine adjustments to the current monetary policy of the Federal Reserve.

Gold pricing has remained fairly stable and continues to trade above $1800 per ounce. The clear break in gold occurred on Friday after Federal Reserve Chairman Jerome Powell spoke at the virtual Economic Symposium.

The most recent Commitment of Traders (COT), which is published every Friday and lags one week behind real-time data, indicated that there has recently been a shift in market sentiment amongst money managers.