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On Friday, we had a sharp sell-off in both gold and silver, gold plunge by just over $40

an ounce.

I think $41.

It settled around 1763.

Silver and even sharper, $77.00 sell-off, settling at $24.37.

So we had a sharp rise in the US dollar and a rise in yields on longer term US treasuries.

In fact, the dollar index had one of its best days in memory, up about 0.54 dollar index

settling back at 92.78.

And the yield on the 10-year US treasury back up to 1.29 and on the 30-year treasury, 1.934.

Still, very, very low rates, but not quite as low as they were the week before.

The catalyst for all of these sharp moves on Friday was the release of a stronger than

expected July employment report.

Now, when you actually look at the report, yes, it was slightly stronger than expected,

but not nearly strong enough to justify the moves that we saw in gold, the dollar,

and the bond market.

In fact, if you actually look at the employment number, but also look at all the other economic

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