Employment is a lagging indicator.
Increasing unemployment is suggestive of a slowing economy which is usually met with the need to provide liquidity by lowering interest rates thereby increasing borrowing leqading hopefully to economic expansion.
So leaving rates the same is good for gold but cutting them is bad for gold?
That's how I see it. I'm no gold bug. What do you say?
There is also the school that says the more disposable income in the pockets of consumers translates into more gold jewelry purchases. The consumers in Asia love the stuff.