September 03, 2021

Gold and silver surged today after July’s employment data came in well below estimates as only 235,000 jobs were added for the month (vs. 720,000 expected). Gold is up $22.00 trading at its highest level since June,  and silver is up nearly 4% for the day, trading at $24.78.  Stocks plunged on the report but have since recovered most of their losses with the Nasdaq and S&P turning positive for the day.  Bad news is good news for stocks if it will pushback Fed tapering, which a job report like today’s could do.