[Breaking News] US Jobs Number Missed Expectations
The US job numbers comes out once every month and the expected number for this month was 189k new jobs created. That was a low number to begin with but the real number was even worse. Here are all the numbers:
Comment: As you can see the number that came in was 164k which is clearly below the expected number.
However, the fake unemployment number came out better than expected, the unemployment rate fell from 4.1% to 3.9%.
So how did the market react to this? Here is the US dollar:
Comment: The dollar is actually rising at the moment, but we will see at the end of the day, this could change later on.
Gold is slightly up after the numbers came out:
Comment: Gold is up around 0.15%, not much, but as I mentioned, it is still early in the game.
Happy trading!
Even more so, I think wage growth coming in below projections eased some inflation fears which led to the overall total market rallying. I think next week will probably be a bit lumpier but slower inflation + strong earnings > slowing economy so far it seems.
Yup, inflation is usually good for gold. However, I have been following Martin Armstrong and he believes that both the dollar and natural resources will increase in tandem in this next move along with the stock market before it peaks.
I wonder whether the Gold would ever really break out without anther financial crisis. Pretty much every banker and politician hate real money.
Agreed - even then I think I'd prefer to just hedge with puts instead of gold
Puts are obviously going to be more profitable. Catching the right mining stock or buying calls on such a mining stock (I have no experience with this one) could be great options too. Bitshares actually has their smart assets bitGOLD and bitSILVER so that's a nice option too if you want to save on fees.
Great call on BTS - been slowly upping my position it in for a number of reasons and this only lends more support for that
On top of the Bitshares is the only place where you can get your hands on things like https://museblockchain.com and https://zephyr.bitspark.io which are projects with great potential.
That is a good question, I honestly doubt it as long as gold & silver is being traded on Comex. I think we need a new exchange system, and that is where crypto exchanges comes into the picture. They need to be decentralized.
But, we also need that financial crisis, and we are getting closer every day, I think this current US expansion is the second longest ever even though the growth is really low, it has now lasted about 9 years and we should be very close to the peak. Probably within 2 years.
We do have Bitshares Smart Assets and DigixDAO (DGD) The problem is the volume. It's super low. In 2016 I was thinking about a possible crash 2019-2020 but now I think the current madness could continue much longer and blow up much worse. I mean who would have expected negative interest rates that was actually acceppted by people.
I'm not going to underestimate human madness.