The US reported 288,000 jobs on Friday, way past consensus 216,000 - so why were equities down and gold up

The US reported 288,000 jobs on Friday, way past consensus 216,000 - so why were equities down and gold up? The NYT digs under the headline numbers: Rarely does a monthly report on the United States job market look so terrific on the surface while being so disappointing underneath. At first glance, the new reading on the nation's employment situation is shout-from-the-roof-tops, pop-the-Champagne fantastic. The unemployment rate fell to 6.3 percent from 6.7 percent, and employers added a whopping 288,000 jobs, the most in two years. Those types of numbers, if sustained, would signal something better than just the humdrum, sluggish recovery of the last few years, and something far more robust. But where the last couple of months have had disappointing top-line numbers with some excellent trends bubbling beneath the surface, this one pairs the excellent surface news with a soft underbelly. (VIEW LINK)