This clippling from Gata sums it up!

see below

The number, a possible prelude to tomorrow’s US jobs report, was FAR higher than anyone was predicting and bodes very poorly for the future of the US economy, which is probably why a somber Bernanke actually mentioned the possibility of a US recession. This sort of frank, Fedspeak talk is very rare and surely an omen of what is really coming down the pike.

To mitigate the effects of the lousy news, and significant at that, the dollar had to be pushed up ahead of time and gold taken down. Paulson ordered his Muppets into action. About a half hour after the horrible US jobs news, the euro had cut half of its losses … with gold gyrating all over the place. But, why should the euro have been down at all in the first place? The Planet Wall Street bulls continue to tell us the "bad news" is already factored into the market. But, that is hogwash. The news continues to WORSEN, and on a daily basis. And it is NOT "in the market," as just is the case with the jobless claims number.

My thoughts yesterday that the correction for gold and silver is basically over still stands. Today’s gold action was frenetic … up $5, down $5, up $5, down $5, over a short period of time. This is how a market often performs near the end of a market move. Technicians often see this yo-yo action as a sign a market will soon change direction, which means up in the case of gold, silver too.