Gold for April delivery on the Comex division of the New York Mercantile Exchange was last at $1,184.20 per ounce, or about $12 below where it was before the report was released.
Gold Price Drop Mining News
Gold hit a five-month low in the wake of the jobs report, but recovered quickly climbing 4.8% to 1,230.
The best indicator of the health of the global exploration sector has fallen to a record low.
"50% corrections are quite normal in markets."
The likelihood of a strong rebound is supported by both a struggling mining industry and gold's performance during the last great bull market of the 1970s.
Rick views this period as a reflection of the four times during his career that he’s seen absolute capitulation, which is setting the stage for a “spectacular recovery”.
Most obvious measures include abandoning non-essential exploration work, postponing hires and focusing on core-business operations.
The gold price surged nearly $40 an ounce on Monday as a weaker dollar helped the metal recover from one of its worst quarterly performances in history.
"Some bought too much when gold prices fell to $1,300 and now their cash is tight."
Seeing Cramer in the gold camp is discombobulating Peter Grandich.
Production costs and big upcoming gold projects.
Nevada mine put on care and maintenance due to declining gold prices.
Silver is at US$18.59 per ounce.
Silver is under $19.
Stay calm and invest on, as I believe there is opportunity in picking up what the bears left behind.
Don't fall for propaganda from the Federal Reserve about tapering quantitative easing, says ShadowStats editor John Williams in this interview with The Gold Report.
Is GDXJ now a buy?
As usual the Federal Reserve media reaction machine has fallen for a poorly executed head fake.
Gold price plummets after the US Federal Reserve signaled an end to its loose monetary policy may come sooner rather than later.
Billions wiped off sector as gold price drop sends many stocks to multi-year lows.
"If gold bounces $100 from here - which is not that hard to see - then gold stocks will have a big run."
Gold fell around $17 on Wednesday after the Fed again hinted that QE3 may be tapered off if the US economy continues to improve.
The sudden $200 drop in April scared a lot of gold investors out of the market. Those that remain should heed these warnings.
Gold investors are worried that Fed chairman Ben Bernanke could announce on Wednesday that the Fed will start tapering off its quantitative easing program.