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Strong US Jobs Data and the Market Reaction

Cory
September 4, 2020

Chris Temple joins me today to recap the stronger than expected US jobs data from August. With markets moving down, and almost giving up all the gains from August, it is not the reaction one would expect from strong economic data. However these markets are not driven by simply economic data. We look at the continued bounce in the US Dollar and how this is pressuring the precious metals.

Click here to visit Chris’s site – The National Investor.

Discussion
106 Comments
    Sep 04, 2020 04:45 AM

    Yes, another bogus jobs report…….right on track for an election favor…..
    US. locked down, and everything is great……. lol

      Sep 04, 2020 04:50 AM

      Us Debt Clock………says……Not in the workforce…..100,732,350

        Sep 04, 2020 04:52 AM

        Full time workers…..119,756,000 approx.

          Sep 04, 2020 04:53 AM

          Gold to dollar ratio……$31,000

        Sep 04, 2020 04:28 AM

        That number consists mostly of school students, retired persons, housewives, disabled persons etc… which is why they are not in the Labor Force. Many of those people are not really unemployed and they have never been counted as unemployed in the past. Not that it is not an important number to look at as long as one knows who those people are.

          Sep 04, 2020 04:56 AM

          Wayne……….there are 330,000,000.people in US……….less….. 219,000,000.( see no below.)
          .where are the missing …110,000,000

          Not in Workforce…100 million PLUS
          Workforce…………119 million Equals.
          that is……………..219 million approx

            Sep 04, 2020 04:04 AM

            Not trying to argue……. Just interesting concerning the numbers…..
            The numbers have been bogus for a long time…..JOHN WILLIAMS,
            has been keeping the numbers, and I believe his numbers before, I would believe
            anything from the US GOVT…..
            HELL WHERE IS THE MISSING $$40 TRILLION from the Pentagon…. 🙂

            Sep 04, 2020 04:06 AM

            DRAIN THE FREAKING SWAMP……….
            Term Limits and END THE FED………is the best thing that could happen to the US GOVT.

            Sep 04, 2020 04:43 PM

            OOTB Jerry,

            Hope this explains were the missing 110 million are.

            Number are approximate. The data for the first 3 categories of people comes from the U.S. Debt Clock website. Hold your cursor over the number to see the description.

            Total Population of the U.S – 330 million

            1. People In the Labor Force – 143 million (120 million full-time and 23 million part-time)
            2. Actual Unemployed People (U-6 unemployment rate) – 27 million (some of these people are still working part-time)
            3. People Not in the Labor Force – 101 million (People age 16 and older)
            4. Children under age 16 – 65 million
            5. Prison Inmates – 2.3 million
            6. Military Personnel – 1.3 million

            The total is 340 million people (this number is higher than the 330 million because some part-time workers who are counted in the Labor Force are also partially unemployed and are also counted in the Actual Unemployed People category. They are being double counted.

            Sep 04, 2020 04:49 PM

            Currently Shadowstats unemployment rate is 28%, down from a high of about 35% a couple of months ago.

            Sep 04, 2020 04:07 PM

            Hello Wayne…………we are talking around the same number……….UNEMPLOYMENT is greater than stated…………

            Sep 04, 2020 04:16 PM

            Boomer , in retirement age……….is about 30 million…..everyone else should be working…. 🙂

            Sep 04, 2020 04:18 PM

            Everyone else besides 30 million retirees should be working? Are you nuts? 65 million children under 16 should not be all working. 10 million between the age 18 to 65 who have severe disabilities or illnesses should not be expected to work. 10 million housewives taking care of children should not be working.

            Unemployment is really higher than stated is true but leave out retirees, disabled people, housewives and school students.

            Sep 05, 2020 05:56 AM

            …Sorry, for the confusion, concerning my statement, I did not know we were going into a lecture series concerning fake numbers… 🙂
            Children are included in the” not working ” number.NOT IN THE WORKFORCE. of 100 million, I guess I should have labeled the numbers, for our ongoing lecture series….lol…. The 30 Million statement of the boomers, should have been detailed more….sorry.
            We are still missing some people….
            Bottom line………..the NUMBERS reported are WRONG……, The numbers from the US GOVT are WRONG…..
            We can go back and forth for days…..

            the” Everyone else”,- should be working”, was to mean, out of the 110,MILLION.,
            the kids are in the NOT WORKING number of 100 Million., TWO SEPARATE NUMBER GROUPS
            THere are still a lot of people not accounted for, in the above numbers from the DEBT CLOCK…..Was my main point…….
            AND the answer to your question….._”are you nut”……the answer is HELL YES…. 🙂

            Sep 08, 2020 08:50 AM

            Very good explanation Wayne and very correct.

            Sep 08, 2020 08:16 AM

            Where is Paul ……… 🙂

            Sep 08, 2020 08:27 AM

            check this one out,,,,,kind of interesting
            https://www.youtube.com/watch?v=FDDkY9z908M&feature=youtu.be

            Sep 10, 2020 10:26 PM

            Kind of interesting? Absolutely false. You need to look at the numbers instead of believing this crap.

            Sep 11, 2020 11:54 AM

            Wayne………which numbers are you referring WHO, CDC, or Fauci,,,which are all false,
            If, you are referring to the covid tape above.
            Guarantee there is a lot of crap out there……for sure, and it is all govt supported.

            Sep 11, 2020 11:17 AM

            Wayne this one might be better
            https://www.armstrongeconomics.com/international-news/disease/germany-admits-there-never-has-been-an-epidemiological-emergency/
            German Minister of Health admitted that the lockdowns were a mistake. Now the data on the COVID situation and mortality in Germany have surfaced showing that there has “apparently never been an epidemiological emergency.”

            Sep 12, 2020 12:24 PM

            Referring to that video that claims that the odds of someone age 50-64 years old in the U.S. of dying from COVID-19 are 1 in 19 million, that is not true. That would mean only 3 people died. Do your research and you will see that it is about 1 in 2400.

            60 million people age 50-64 dividend by 25000 deaths comes to 1 out of every 2400 people have died of COVID. Still not high odds but not like that ridiculous 1 in 19 million.

        Sep 04, 2020 04:03 AM

        Greg says it is BS………and I have to agree….

          cfs
          Sep 04, 2020 04:14 AM

          I am not employed, but did not Trump suspend Social security tax. Would that not account for increased income ?

            Sep 04, 2020 04:58 AM

            Not sure ……..since I am retired and have been for 30 yrs….

            Sep 04, 2020 04:37 AM

            Trump talked about suspending the payroll tax like it would help the little guy. Don’t think it happened as it would give the little guy peanuts, give Corporations big savings and continue to undermine Medicare and Social Security as it ends contributions to those programs and avoids recommended increases for high income earners as it fades out over a certain amount of earnings. Trump is trying to privatize programs which will not save the little guy money nor will it give them any benefits in the long run. This is only an opinion and not looking for a fight or irrational attack. Just looking at the purpose of Trump’s comments.

            Sep 04, 2020 04:10 PM

            Thanks CFS. I didn’t know he went trough with it. I guess with the limited time frame, there will not be any legal challenges. Thanks for setting me straight.

          Sep 04, 2020 04:32 AM

          Agree. Greg is right and has been right about the fabricated Federal data for years.

            Sep 04, 2020 04:54 PM

            Thank you David…..

          Sep 18, 2020 18:53 AM

          Greg is gay just like you Jerry.

      Sep 04, 2020 04:13 AM

      Agreed Jerry. The devil is literally in the details. They must have thrown everything but the kitchen sink in there and then through the kitchen sink in for good measure LOL!

        Sep 04, 2020 04:01 AM

        :)……. Trump is participating in the con game……but, he is the best we got….

          Sep 04, 2020 04:05 AM

          If trump gets re-elected, it will be interesting to see if he becomes more “real” again when he has less to lose. I am hoping that will be the case, but not holding my breath.

            Sep 04, 2020 04:09 AM

            At this point, I would give him the benefit of the doubt……just because he has been wrapped up with crooked DOJ, CIA, FBI, FED. and the NY SCUM BAGS….and lousy congress,
            for the last 3 1/2 yrs. ….The next term will see if, he really is for AMERICA ….

    Sep 04, 2020 04:01 AM

    Sprott Money News Weekly Wrap-up

    w/ host Craig Hemke & Eric Sprott – (09.04.2020) #AudioInterview

    “Eric Sprott recaps a difficult week for the precious metals but looks forward to an interesting month of September.”

    https://youtu.be/rtKv4RL5eGc

      Sep 04, 2020 04:06 AM

      Making and Keeping Millions from Mining Stocks with Tommy Humphreys (founder of Ceo.ca)

      MiningStockEducation – (09/03/2020) #AudioInterview

      0:00 Introduction
      2:20 Using CEO.ca for mining stock due diligence
      6:06 How to use CEO.ca to find potential investment ideas
      8:49 Analyzing the conversations in CEO.ca chat rooms
      12:59 Market inefficiencies in junior resource sector
      15:29 Mining stock investing advice
      22:04 Making and keeping millions from mining stocks
      28:51 Vibe in Vancouver, the junior mining hub

      https://youtu.be/7GtXFTcRhfQ

        Sep 04, 2020 04:10 AM

        Peter Schiff, Rick Rule, Brien Lundin, Adrian Day | Current Trends in Money, Metals, And Mining

        MoneyShow – Sept 4, 2020 #VIDEO conference

        “Given the monumental stimulus being directed at the world’s economies, and the likelihood of negative real interest rates for years to come, the forces propelling metals higher will make this one of the most enduring bull markets in history. This panel of top experts will help you identify new trends, the driving forces behind them, and share their best ideas for cashing in on this bullish momentum.”

        https://youtu.be/WInxJ0jt9YM

      Sep 04, 2020 04:36 AM

      Cory in that Sprott Money News weekly wrap interview he had a nice hat tip to your interview with Chris at Silvercrest (SIL) (SILV) and their newly acquired property.

      I just wanted to say thanks for providing so many great weekly editorials and company interviews, as they really are helpful for investors.

        Sep 04, 2020 04:47 AM

        For those that missed that interview referenced from earlier in the week:

        $SILV $SIL Silvercrest Metals – New #Acquisition El Picacho And Drilling Strategy Moving Forward
        #KorelinEconomicsReport (09/01/2020) #AudioInterview

        “Chris Ritchie, President of SilverCrest Metals joins today to share some updates on the recent property acquisition, the El Picacho Property. We also discuss the continued drilling at Las Chispas and the strategy to continue to add value for shareholders.” #Exploration #DrillPlays $Silver

        http://www.kereport.com/2020/09/01/silvercrest-metals-new-acquisition-el-picacho-and-drilling-strategy-moving-forward/

      Sep 04, 2020 04:15 PM

      Billionaire Eric Sprott Talks $30M Investment in PureGold Mining (PGM) (LRTNF)

      Podcast by @jonathanroth on 4 Sep 2020

      https://ceo.ca/@jonathanroth/podcast-billionaire-eric-sprott-talks-30m-investment-in-puregold-mining

        Sep 04, 2020 04:05 PM

        I saw this podcast with Eric pop up shortly after I trimmed back my Pure Gold position to lock in a few gains in it. (Face palm) Oh well, I’m sure this company will get more investors funneling into now; which is fine, as I still have my core position in it, but talk about bad timing….

        Also today I added to my Dolly Varden and Denison Mines positions, since I had trimmed them back at higher prices, and started 2 new positions in Golden Minerals and Westhaven Gold Corp.

          Sep 04, 2020 04:18 PM

          Ex:
          I have been thinking of adding to Pure Gold for a few days, but didn’t. That explains why it gas been moving some almost every day. About all I did today was one move to cut back on Defiance and add to GR Silver. GR is one of my better movers and I had cut it in half. Decided to build it back a little. Hopefully next week will start Round 2 this year and I can see what I can consolidate. I worked myself up to about 80 stocks and I can’t remember why I have all of them.

            Sep 04, 2020 04:17 PM

            I’m in a similar boat David with the larger portfolio of about 80 stocks overall (if one includes Uranium, Lithium, PGM, and Base Metals stocks along with the Gold & Silver stocks). I imagined trimming that down to about 50, but have spread a wide net (mostly to try and harvest the 2020 exploration season, with so many drill programs underway at present).

            As for Pure Gold, I’m a big fan, but decided to trim some back after such a large run up in it’s shares, to rotate over to a few that hadn’t run so much yet or that had more catalysts coming up. I immediately felt sellers remorse, when I considered what would happen if they got acquired and my position size was reduced, and then the Eric Sprott podcast was posted by Jonathan Roth a little while later and I just shook my head at the timing of it all.

            As for Defiance I considered trimming on the run higher, but reconsidered because they haven’t posted their drilling results yet, and that was the reason I beefed it up in the first place. As for GR Silver, I’ve considered it a few times, but it just felt like it has run so far already, so I opted for Golden Minerals with a nice Silver/Copper development project that keeps looking better and better and yet undervalued compared to peers with similar sized resources and grades. I’ve got 21 Silver stocks, but if I clear out a few more Gold stocks, then I may pick up GR Silver, GoGold, or Eloro to add a bit more Silver exposure. For now I’m pretty stocked up on the silver miners though.

            Sep 04, 2020 04:20 PM

            Correction: Golden Minerals is Silver/Gold not Silver/Copper. I was thinking of Abraplata when writing that.

            Sep 04, 2020 04:30 PM

            (AUMN) Golden Minerals Drills 24m Grading 6.7 g/t Au at its Rodeo Gold Project, Durango, Mexico
            26 Aug 2020

            Warren Rehn, President and Chief Executive Officer of Golden Minerals, commented, “We continue to intersect thick intervals of near-surface, high-grade gold mineralization at Rodeo. The results of this infill drilling program are showing an improvement in gold grades on average compared to previous drill hole results. This further supports our plan to develop the project and process this high-grade material in our oxide plant at Velardeña.”

            https://www.goldenminerals.com/news/2020/golden-minerals-drills-24m-grading-67-gt-au-at-its-rodeo-gold-project-durango-mexico

            Sep 04, 2020 04:53 PM

            (AUMN) Golden Minerals – Corporate Presentation

            – check out page 7 Velardeña Overview:
            “560 ha Silver/Gold property with two underground mines and two processing plants; mines on care & maintenance”

            – check out page 12 El Quevar – Earn-In with Barrick Gold Corp:

            • Barrick recognizes excellent potential for plus 5M ounce gold deposit
            • Barrick purchased $1M of Golden Minerals shares
            • Barrick to fund holding costs of the property and reimburse Golden for camp costs
            • In addition to the 30% interest retained on earn-in, a 5% NSR Silver royalty is held by Golden on the first 29M silver ounces produced
            • Barrick may earn an undivided 70% interest in the project by:
            • Spending $10M on exploration
            • Delivering an NI 43-101 compliant Pre-Feasibility Study describing a potentially profitable operation
            with mineral resources of not less than 2M AuEq oz, and
            • Delivering a notice of exercise to Golden within 8 years

            https://www.goldenminerals.com/_resources/presentations/AUMN-MIF-Presentation-August-6-2020.pdf

      Sep 04, 2020 04:29 PM

      (SBB) (SGSVF) Sabina Gold stock up on Back River drill results

      Mining.com Staff Writer | September 3, 2020

      “Two new holes were drilled in the upper portions of the high-grade corridor at Umwelt underground. One of those returned 19.89 g/t Au over 32.20m, including 51.50 g/t Au over 8.20m, ranking it as “one of the best ever encountered on the project in terms of grade and thickness.” The second drill hole returned 5.88 g/t Au over 20.10m.”

      https://www.mining.com/sabina-gold-stock-up-on-back-river-drill-results/

    Sep 04, 2020 04:05 AM

    Brian Hirschmann: The $6,000 Mother of All Gold Rallies

    Palisade Radio – Sept 4, 2020 #AudioInterview

    https://youtu.be/27yn2rJPfiA

      Sep 04, 2020 04:07 AM

      Gold Has Been Activated To Expose The [CB], This Is Just The Beginning w/Rana Vig

      X22Report Spotlight – Sept 2, 2020 #AudioInterview

      “Rana Vig has over 30 years of business experience during which time he has helped launch five business ventures in private industry. He is the CEO of Blue Lagoon Resources. Rana discusses how the dollar is losing value and gold is in the beginning stages of taking off. As the dollar decreases in value gold will rise. The Fed is in trouble, it needs to give the appearance that it is controlling inflation, as inflation take off people will see the truth. ”

      https://youtu.be/HqGAwl5WqDA

        Sep 04, 2020 04:13 AM

        Greenspan Admits the Fed and Not Gold Causes Great Depressions

        maneco64 – Sept 4, 2020 #VIDEO discussion

        “Today we will look at why the Federal Reserve along with government, and not the free market, are to blame for accentuated booms and bust and how the discipline of a free gold banking system actually helps discipline bankers and governments.”

        “I will reference Alan Greenspan’s essay entitled Gold and Economic Freedom from 1967.”

        https://youtu.be/z6Mqfl3EBC0

          cfs
          Sep 04, 2020 04:32 AM

          https://www.youtube.com/watch?v=FDDkY9z908M

          One America News gives Covid-19 update.
          While I disagree with the 6% number which is misinterpreted in my opinion, it shows increasing capabilities of hospitals in delivering effective therapeutics.

      Sep 04, 2020 04:53 PM

      Galiano Gold (GAU) – Turnaround Story Ramps Up Exploration Excitement

      CRUX Investor – Sep 4, 2020 #VIDEO

      Interview with Greg McCunn, CEO of Galiano Gold (TSX/NYSE: GAU)

      “McCunn is a sharp operator. When a gold producer turns its focus away from searching for ounces in favour of creating cash, it allows the company to leverage the current gold bull environment rather than looking for potential that may go unfulfilled. Ounces in the ground are all well and good, but free cash flow gives a company options. This has been reflected in Galiano Gold’s share price recently: it is up 50% since when we last spoke in June.”

      “Galiano Gold used to be known as Asanko Gold. The company has established itself as a mid-tier gold producer having started production in 2016 at its Ghanaian gold mine: Asanko. The gold mine is operated in a 50:50 JV with Gold Fields (JSE, NYSE: GFI). It is throwing off around 250,000oz gold pa, solidifying the company’s status as an established mid-tier gold miner.”

      https://youtu.be/lHkZY-JD1NU

    cfs
    Sep 04, 2020 04:22 AM

    Equinox Gold Announces Temporary Suspension of Mining Activities at Los Filos Mine

    2020-09-04 07:30 ET – News Release

    Equinox Gold Announces Temporary Suspension of Mining Activities at Los Filos Mine
    Canada NewsWire

    VANCOUVER, BC, Sept. 4, 2020

    VANCOUVER, BC, Sept. 4, 2020 /CNW/ – Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) (“Equinox Gold” or the “Company”) reports that mining activities at its Los Filos Mine in Mexico have been suspended since September 3, 2020 as the result of an illegal road blockade by members of the nearby Carrizalillo community. The individuals allege non-compliance with the community social collaboration agreement signed in 2019. The mine remains staffed with a reduced workforce to maintain appropriate safety, security and environmental systems. Equinox Gold is in active discussions with the Carrizalillo community leaders to resolve the issues.

    Sep 04, 2020 04:05 AM

    STRONG JOBS GROWTH? ARE YOU KIDDING? PUT DOWN THE COOLADE, PLEASE, ANS SOBER UP. CLOSE TO ANOTHER MILLION PEOPLE LOST THEIR JOBS IN ONE WEEK!

    Sep 04, 2020 04:20 PM

    DONALDS MOUTH WILL MITCH ASK FOR HIS RESIGNATION BEFORE HE LOOSES THE SENATE ??? PENCE has no personality will pence really show up- for his debate with Kamala ??? he will look like leaf of wilted lettuce . My FSM stock is lower than i paid but i am holding on for much higher price rsh

      Sep 04, 2020 04:56 PM

      Mitch should have been kicked out years ago…….problem is with his wife….check it out…politics and pay to play……TERM LIMITS….

      Sep 04, 2020 04:39 PM

      Update TRump disrepects graves of fallen marines in france Pence is a vust fro REPUBS

        Sep 04, 2020 04:57 PM

        Ha ha, Hamilton.
        You even sucked-in the sheep.
        However, the the dog is gonna get ya.
        ( the sheepdog , that is )

        Sep 05, 2020 05:14 AM

        Russell, do you believe everything , you hear…….
        The Dems have been liars from day one…….once a liar, always a liar…..Liars can not help themselves, …There are a lot of FACTS, to prove the Dems Lie.

          Sep 05, 2020 05:42 AM

          Russell……….there is a clip below………for you to watch…..concerning Biden…this is your leader….

    cfs
    Sep 04, 2020 04:41 PM

    You think the Presidential Debates Commission is unbiased ?
    They are part of the Deep State, so good luck with idea.

    https://www.thegatewaypundit.com/2020/09/presidential-debates-commission-c-spans-steve-scully-moderate-trump-biden-debate-former-biden-intern/

    Sep 04, 2020 04:36 PM

    Jerry, you out there? You see that killed that Reinhole who killed the Trump supporter.

    I wish Owl and Jimmy would do a show on how dangerous these Antifans/BLMers are. Imagine what they will do if Trump is re-elected? Use that as an excuse to burn down the country.

    Owl needs to talk about this and get more traffic on his site. But how to do that? But if you want millions of youtube views just show funny videos with childern and aminals…

    https://www.youtube.com/watch?v=mrQ5lQxNImk

      Sep 04, 2020 04:37 PM
        Sep 04, 2020 04:58 PM

        Hello Ebo………..

          Sep 04, 2020 04:08 PM

          We have to get OWL and Jimmy to do a show on the dangers of Antifa and BLM. They are terrorists and murderers and they are coming to a town near you…especially if Trump wins re-election.

            Sep 04, 2020 04:10 PM

            Owl. is too busy, with his WISH FOUNDATION…..LOVE UM TO DEATH… 🙂

            Sep 04, 2020 04:13 PM

            Just kidding OWL….

            Sep 04, 2020 04:16 PM

            Jerry, Soros color revolution to take out Trump…

            https://www.youtube.com/watch?v=0zAFImkKpZU

            Sep 04, 2020 04:17 PM

            Killary…told Biden to NEVER concede election…and now we now why…

            Sep 04, 2020 04:17 PM

            Trump should just wack him and take him out…..like all the other ISIS leaders… 🙂

            Sep 04, 2020 04:19 PM

            Biden is wacked out, so just put him in a straight jack and send him to Gitmo…..

            Sep 04, 2020 04:20 PM

            Just kidding JOE, in case you become Dictator …..of the USSA…. 🙂

            Sep 04, 2020 04:23 PM

            Hope they send Hilly and Billy back to Haiti……..maybe, she can find a hut to witch hunt in…… 🙂

            Sep 04, 2020 04:26 PM

            EBO……..I might be missing for a few min….I am going to listen to you “revolution” tape.

    cfs
    Sep 04, 2020 04:43 PM

    Aparently Trump disagree with Pentagon over Stars and Stripes:

    https://twitter.com/realDonaldTrump/status/1301968873487564802

      Sep 04, 2020 04:59 PM

      Trumpster, needs to be going after the $40 TRILLION, and send me a check…..

    cfs
    Sep 04, 2020 04:39 PM

    Used to be a paper of record:

    https://www.foxnews.com/media/ny-times-scrubs-antifa-reference-portland-suspect

    Now just……? (Not even a good fire starter.)

    Sep 04, 2020 04:27 PM

    I was just thinking back to the whole “Drop Gold” campaign by the crypto kiddies, and wondering how many people missed this great run in the PMs over the last year due to that ad blitz. Haha!! 🙂

    ____________________________

    GBTC ‘Drop Gold’ Campaign Perfectly Called Gold Price Bottom

    William Suberg – Aug 26, 2019

    “The Grayscale Bitcoin Trust (GBTC) told investors to ditch gold for Bitcoin (BTC) just before the precious metal surged.”

    https://cointelegraph.com/news/oops-gbtc-drop-gold-campaign-perfectly-called-gold-price-bottom

      Sep 04, 2020 04:30 PM

      Here was their actual TV & Internet Advertisement:

      > (this cracks me up how wrong it was on so many levels)

      Drop Gold

      May 2, 2019

      https://youtu.be/UJkDhE6fTt0

      Sep 05, 2020 05:32 AM

      Good one…………..

    Sep 04, 2020 04:12 PM

    Stefano Bottaioli @stebottaioli – on Twitter:

    “$USD we are very close to a signal that arrives every 17.25 years … we must take note of the signal when it arrives. the reason? the bearish phase for the USD could be like the previous ones …. 11 years.”

    https://twitter.com/stebottaioli/status/1295971008084611072

      Sep 05, 2020 05:30 AM

      Interesting chart…..never seen that one before……

        Sep 05, 2020 05:09 PM

        Yeah, interesting 11 year and 6.25 year cycles with the Dollar.