Of course gold is trading choppy and sideways as the yellow precious metal seeks new direction.

That direction is particularly hard to come by since extracurricular talk by various Fed members has been contradictory.

Gold and silver began digesting the meaning of the 288,000 jobs added in the U.S. in June. As they say in Italy, the number is giving them agita. That means acid reflux in both a literal and figurative sense.

Some things can be anticipated fundamentally.

When ADP, a private employment data organization, reported that the U.S. created 281,000 new jobs, we could be certain that the official Department of Labor figures would be in the same neighborhood.