Want to know where gold is going next? Then you better keep a close eye on Friday's close.
Gold started Friday morning much lower. Sentiment in the gold market was bearish, after ADP, GDP, jobless claims and ISM manufacturing numbers all beat expectations within the past 48 hours.
That left all eyes on the July jobs data, which bucked the bullish trend and missed expectations. While economists had expected to see a 184,000 increase in nonfarm payrolls, the number came in at 162,000. Gold had been hugging $1,284 to $1,285.60, the prior lows, but rallied nearly $35 off of the disappointing news.
(Read more: July jobs data more gravity than 'escape velocity')