Bad jobs report and weak housing is good for gold.
Money supply is going to increase because that is how problems are solved at the federal level. Austerity will not happen with either party in power. Sadly, Ron Paul will not be elected or anyone like him, ever. Inflation is the federal governments friend, deflation will blow up the system. Dollar devalues, and hard assets like gold, hold a steady value. Gold isn't going up really, it just requires more dollars to buy an ounce because dollars are worth less than they used to be.