The gold price reaction to Friday's massive headline beat on Non Farm Payrolls says a lot about how market sentiment has changed since last year. In 2013, any...

The gold price reaction to Friday's massive headline beat on Non Farm Payrolls says a lot about how market sentiment has changed since last year. In 2013, any time a data point of such significance printed that far ahead of expectations, we'd have seen gold fall hard, and fall fast. This time around, whether it was due to the ongoing news out of Ukraine, or a look beneath the hood of the employment report to see a plunging LFPR, no growth in average hourly earnings, or the fact that the household survey showed jobs falling, the gold price didn't sink. Make no mistake, the path of least resistance in the short term for precious metals is still down, and sentiment is still bad, but Friday's reaction to payrolls indicates at the very least that the bears aren't quite as convinced about their positioning as they were last year. More details here (VIEW LINK)