02 September 2016

Gold Daily and Silver Weekly Charts - Out of Season

The Jobs Report came in light in key areas of wages and hours worked, in addition to the net number of jobs added.

And so the market rallied, on expectations that the Fed will stay its hand in September.

There is a bit of mixed sentiment, with the defenders of the statist quo like Goldman Sachs, the NY Times, and the Washington Post suggesting that this was a goldilocks report that opens the door to a Fed interest rate increase.

However, the rest of the market which is saying that there is no sustainable recovery, and therefore the data does not warrant it.

And so gold and silver rallied a bit on the back of a weaker dollar. The US needs a stronger dollar like they need another Clinton in the White House. Although Trump is certainly no better, just differently bad.

The States will be on holiday on Monday, celebrating those who labor. Ironic, because the policy of the ruling class pretty much hold those sorts in contempt.

Try to carry on without the imperial guidance.

A hurricane will be blowing its way up the East Coast this weekend. It is that time of year again.

Have a very pleasant weekend.