A-Mark-Precious-Metals-IncOn Good Friday, US non-farm payrolls data showed a rise of 126,000 during March after a gain of 264,000 for February.  The March figure was far below the median forecast of 245,000 and non-farm payrolls for January and February were revised lower by a combined 69,000.  This would have been very bullish news for the precious metals if the market was actually open.  Because of Good Friday and the weekend though, the electronic exchange was closed from Thursday evening through Sunday afternoon.  When the market did finally open on Sunday evening, the first session with a chance to react to the non-farm payrolls figures, it opened over $10 higher than its last close on Thursday.   Yesterday, gold tested resistance in the mid $1,220s but failed to break through this area.  There is now a triple top at $1,224.  The Chinese were good sellers in the overnight session and the Shanghai Gold Exchange arbitrage versus London moved into a slight discount.  Support for the time being is coming in at the 50 day moving average of $1,207, the low of today thus far.  With the NFP figures not having any lasting effect beyond Sunday’s and early yesterday’s trading sessions though, the market appears to want to test the downside further.