Gold just took a breather. And the next leg up is just around the corner…
Hey folks,
We’ve got a big one tomorrow morning: the Non-Farm Payrolls (NFP) jobs report.
But if you’re looking for a clean read, don’t hold your breath.
Yesterday’s JOLTS data, which counts job openings, says there are still over 7 million jobs available.
But today’s ADP Nonfarm Employment Change report says we only added 54,000 private jobs last month.
So what will the NFP report show?
Your guess is as good as mine. Maybe cooked numbers — especially after Trump fired the BLS secretary last month. We’ll find out in the morning.
Gold And Silver Take A Breather
In other news, two precious metals that have been on a tear — gold and silver — are slowing down and taking a well-deserved breather.
And honestly, they needed it.
Gold’s trying to hold $3,600, but don’t be shocked if it pulls back to $3,550 or even $3,500.
That’s been the pattern all year: run up to a new high, then dump 150–200 points before regrouping.
If it holds $3,600 after NFP, that’s bullish — probably sets up another push to new highs before the Fed meets on the 17th.
And now for a side note that made me laugh…
Celebrity Breakup
Remember the Kraft-Heinz merger back in 2015? At the time it was one of the biggest food mergers.
Well, 10 years later, they want a divorce. Guess the marriage went bad.
At least they didn’t have kids — though if they did, I’d bet they’d be named something like “Mac & Cheese Jr. with Ketchup”
Kraft-Heinz breaking up feels like a celebrity divorce: big splashy wedding, endless photo ops, then a messy split a decade later.
The only thing missing is the People Magazine cover.
Bottom line?
- NFP is the headline tomorrow
- Gold’s resting, but still strong
- And even the biggest corporate marriages can end in splits
Stay sharp,
— Geof
