$GLD and $SLV Prices as of June 8 2020 @moneymetals
9:22 AM
June 8, 2020 – Precious metals prices fell last week but have perked up again this morning.
The Bureau of Labor surprised markets on Friday by releasing a far-better-than-expected jobs report. The equity markets and risk assets surged higher and demand for safe havens fell.
As is often the case with government statistics, however, the devil is in the details. The Bureau admitted millions of Americans had been improperly classified as “employed but not at work.” Had they been correctly reported the unemployment rate would be nearly 3% higher.
These sorts of facts don’t matter much in today’s markets. Equities have been rallying hard since the Federal Reserve announced plans for trillions in stimulus in March.
Now the only thing that matters is that the central bank stands ready to severely punish sellers. Making nearly everyone a buyer.
Check out live precious metals prices here: https://goo.gl/gy5XMA
The Bureau of Labor surprised markets on Friday by releasing a far-better-than-expected jobs report. The equity markets and risk assets surged higher and demand for safe havens fell.
As is often the case with government statistics, however, the devil is in the details. The Bureau admitted millions of Americans had been improperly classified as “employed but not at work.” Had they been correctly reported the unemployment rate would be nearly 3% higher.
These sorts of facts don’t matter much in today’s markets. Equities have been rallying hard since the Federal Reserve announced plans for trillions in stimulus in March.
Now the only thing that matters is that the central bank stands ready to severely punish sellers. Making nearly everyone a buyer.
Check out live precious metals prices here: https://goo.gl/gy5XMA
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