It began on Thursday, August 5, the day following the release of ADP’s private-sector jobs report. This was the first day when gold traded on an intraday basis below its 100-day moving average, which is currently fixed at $1803.

                         "Oh my mama told me there'll be days like this" – Van Morrison

Immediately following the release of the U.S. Labor Department’s nonfarm payroll jobs report, we saw both gold and silver sell off sharply.