What does the positive jobs number mean moving forward?
Chris Temple joins us to chat about the jobs numbers released this morning. It came in better than expected and has moved the US dollar up and gold downward.
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Supply needs to be hit hard. It is the only thing that will result in swing at this stage. Majors keep bumping production to keep the lights on and a keep pushing false sense of positiivity to combat prices. As per usual, gold companies are run by idiots.
And gold company stocks are bought by idiots( like me who bought more RGLD today@37).
Hello Bonzo,
I looked at it also near $38 today.. but based on the 10Yr weekly chart, I thought this could go lower, with first line of potential support near in the $36 REGION – something I’ve mentioned to Richard/Doc privately.
At $37, assuming this thing stabilizes, it might not be that far from a bottom. If not, I’d LOB, maybe in the high $20s/$27 REGION.
I’ve seen something in their latest press release that I liked, but it seems the market doesn’t like the results – AT ALL. So obviously it means I’m missing something at this stage. So FWIW, for the moment, I’ve decided to stay away, and to consider peers instead.
My 2cts.
GL to you investing/trading.
LPG
Arent they one of the big losers in the Rubicon debacle. I thought they had the many streaming deal with Rubicon and are not going to be left holding the bag.
Peter R.,
They have a stream agreement w. RBY indeed.
Latest weakness that started w. yday’s snap coincided w. them reporting results.
Best to you,
LPG
Why are you trying to catch a falling knife?
Fact: Once free world trade became the mantra, at least half of the US workforce really were competing with the Chinese, east Europeans, Indians, Mexicans, etc. Where else could wages go but down?
What the jobs number this morning doesn’t tell is that wages are good and getting better. Lots of people are grabbing whatever they can to survive. JMO
+1 @silverdollar
Big Al,
IMHO, you’ve given me “credit” for sending you a missive, but I don’t think I’m the one who sent this to you interesting piece/piece of data.
Best as always,
LPG
More & more people are renting and it’s reported rents have increased 50% in the last 4 or so years. The necessities ex oil ex oil & gas are well above that 2% threshold.
Another curious fact: registered gold on the Comex sits at 4.7 tons, as well as JPMorgan showing having less than 1/3 ton actual. Comex papar gold sits at 293:1 ratio paper to actual. Everyone, pray for National Repentance!
I pointed the ratio out yesterday……..and got trashed….by some traders…….
that ratio of 293:1 ……….the next closest naked short……is 3:1 I think is oil.
Bill Holter and Bix Weir pointed this out
Silver I think.
yep…..Jerry……unbelievable
Ratios and fundamentals are over-rated and out-dated. GOOGLE oil speculators run oil prices higher.
DUST is up +12%, NUGT is down -12% if I own both and the exchange rate is 1.31
and the dollar is stronger today am I up, down, or even?
Harry Dent likely owns DUST today. He’s happy.
Peter Schiff likely still owns NUGT today and is buying more while doing an interview.
Bill Holter doesn’t think the vaults for pooled accounts have what they claim, so he doesn’t likely own ETFs because they may not have any gold to back up their value.
Jim Sinclair is selling the dollar which is up today, and buying more Physical Gold.
Vladimir Putin is selling his Gold today to buy a Syria Bed and Breakfast to cater to westerners who want an adventure weekend getaway watching the air shows.
Obama is selling his RUSL ETF today before anyone finds out he owned any so to buy GUBR and TSLA on his way to a unicorn stock ribbon cutting ceremony.
Justin Trudeau is investing in a Lithium powered Food Truck business that makes Samosa’s at Lunch and doubles as a medical marijuana dispensary – called Green Puff n Stuff.
Donald Trump is cashing his royalty checks from Halloween sales of ‘the Donald wig’ which had a record year he says.
Lots of Jobs out today – payday loan stores are expanding, jobs in dismantling target stores are hiring, debt collection call centres are hiring, divorce clerk filers are hiring, liquor store delivery drivers are hiring. That is the kind of week it’s been.
Have a good weekend
I have played DUST and NUGT at the same time. You take profits on one while averaging down on the other, then take those profits. Rinse and repeat.
I am sure Peter Schiff does not own NUGT. He said it before.
Great commentary, Chris. Great discussion, all.
Ya’ll be proud. I totally manipulated a stock today. Gotter up 150% with my ask slaps. Also forced them to narrow the bid/ask spread. Feels good when the little guy gets to wield a little power. Stock will probably tank on Monday then I will be on here crying the blues. lol
India’s new monetization plan is smoke and mirrors. India is and will always be a large gold accumulator on and off the books. Gold is the equivalent to guns for americans. Maybe not the best analogy but definitely not the worst. There is no stopping the consumption and increased consumption given the unquenchable appetite and pop. growth.