Without a question gold prices resulted in solid gains today. As of 5:03 PM EST gold futures basis the most active August contract is currently fixed at $1705.30, which is a daily increase of $22.30, or a total of 1.33%.

This week the two important jobs reports were released. Both reports had a profound and bullish impact on U.S. equities, and had the exact opposite effect on the safe haven asset gold, taking prices dramatically lower.

Yesterday we saw gold prices plunge, breaking the key psychological level of $1700 per ounce briefly, and then recovering slightly in New York to close at $1706. This was the third consecutive day that gold lost value as U.S.