The long-awaited U.S. labor department’s jobs report was released today indicating that employment in the United States declined by 701,000 individuals last month.

Recent action in gold indicates that there is solid price support at the recent low of $1576. On a technical basis, there are two major studies identified that confirm this assumption and market model.

Within the extreme carnage in the U.S. equities markets, both gold futures and spot pricing remained in an upswing.