August gold put in a high of 949.40 before the US employment data but the data was not negative enough for the market to see additional downside weakness in the dollar. As a result, the dollar built momentum to the upside after the release which helped drive August gold to an early low of 928.50. The dollar managed to push to a 5-day high which helped pressure metal markets. The economy lost 62,000 jobs in June and revisions in April and May led to greater losses (52,000 more) than originally believed. As a result, total jobs lost for the year have reached 438,000. While the June number showed a bit higher job loss than expected, the strength in the dollar and weakness in the industrial metal sector helped pressure. The new high in crude oil helped provide some support on the set-back as demand interest from investors has been on the rise this week. August gold closed at 630.90 last week.