This could explain why gold initially dropped. After all, since a strong jobs report would seem to increase the chance of the Federal Reserve tapering its quantitative easing program, if one knew an above-consensus payrolls number was coming, one would be liable to sell gold.
(Read more: Upbeat payrolls may undermine gold)
"This is a number that constitutes more taper talk, and it should weigh heavy on gold," Iuorio said.
Brian Stutland of the Stutland Volatility Group similarly remarked that he was "surprised gold is hanging in there as much as it is."
But to Mihir Dange, a gold options trader with Grafite Capital, the level at which gold turned around is no coincidence.
"Over the last few days, when we get down to $1,210 or $1,215, you've seen a lot of volatility come into the market." Dange said. "The low is right around $1,210 three days in a row now. Whenever we've gotten down there, a tremendous amount of buying comes in."
Friday morning's choppy trading in gold certainly didn't surprise John Woods of JJ Woods & Associates.
"It's the end of the year, there's a lack of liquidity, and guys just scout on news that comes into the market—it's sort of just reacting to any news story," Woods said. "You're just seeing guys saying, 'let's make a few bucks here, get out and have a good weekend.' "