U.S. Gold Coins Gold American Eagle Coins Gold Buffalo Coins Commemorative Gold Coins First Spouse Gold Coins High Relief Gold Coins Pre-1933 Gold Coins
The all anticipated report on job numbers for March was released this morning, showing an increase in 215,000 jobs. Unemployment was at 5%, March government jobs up 20,000 and hourly earnings were up 0.3%. Looks like the economy is picking up.
These numbers give ammunition to the FED governors who argue their point that higher interest rates are in order at the next Fed meeting. Anticipated higher interest rates have put pressure on gold and silver prices this morning. At the time of this report we see gold down 16 dollars and silver trading below the important 15 dollar level.
Inflows resumed in the gold ETFs overnight and silver continues its strong accumulation in its fund holdings. These job numbers should have the ETFs’ short term investors heading for the exits, putting more pressure on precious metal prices today.
After seeing the jobs report this morning, some Wall Street spec traders report going short the June gold contract is an investment they feel comfortable in making.
We will just have to wait and see where this goes. With negative interest rates still a story that deserves attention and countries around the globe in a recession, I’ll take the other side of their trade and believe they will be wrong.
(Don’t tell them I said that!)
Author Name: Walter Pehowich
This editorial has been prepared by Dillon Gage Metals. This document is for information and thought-provoking purposes only and does not purport to predict or forecast actual results. It is not, and should not be regarded as investment advice or as a recommendation regarding any particular security, commodity or course of action. Opinions expressed herein are current opinions as of the date appearing in this editorial only and are subject to change without notice. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not prove to be true, results are likely to vary substantially. All investments entail risks. There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate its ability to invest for a long term especially during periods of a market downturn. No part of this editorial may be reproduced in any manner, in whole or in part, without the prior written permission of Dillon Gage Metals. This information is provided with the understanding that with respect to the opinions provided herein, that you will make your own independent decision with respect to any course of action in connection herewith and as to whether such course of action is appropriate or proper based on your own judgment, and that you are capable of understanding and assessing the merits of a course of action. You may not rely on the statements contained herein. Dillon Gage Metals shall not have any liability for any damages of any kind whatsoever relating to this editorial. You should consult your advisors with respect to these areas. By posting this editorial, you acknowledge, understand and accept the foregoing.