Signs that Fridays Job data may disappoint –positive for gold and silver?

Signs that Fridays Job data may disappoint –positive for gold and silver?


Welcome to illuminati silver, we tell you
the truth about silver. Today is Wednesday 5th October 2016 and we
are briefly looking at signs which indicate a possibly disappointing Non-farm payroll
Report on Friday. Private-sector employment slowed a little
in September, according to data released this morning.
According to Automatic Data Processing Inc. Employers added 154,000 private-sector jobs
last month, down from 175,000 in August,. This is the smallest increase since April.
This increase was below expectations. Economists polled by Econoday had forecast a September
gain of 170,000 jobs compared with an original estimate of 177,000 for August. It shows that
small private-sector businesses added 34,000 jobs in September, medium businesses added
56,000 jobs and large businesses added 64,000 jobs. Most of those gains were in the service
sector—151,000 jobs added there, compared with 3,000 for goods producers. This was supported
by a report from the Institute of Supply Management which showed activity in the US services sector
witnessing a big rebound in September, after having slowed to more than a six-year low
in the previous month. Manufacturing however lost 6,000 jobs in September.
Mark Zandi, chief economist of Moody’s Analytics, which prepares the report using ADP’s data,
said “job growth should be expected to slow as the U.S. nears full employment.”
While analysts said the figure does not necessarily track the nonfarm payrolls report due on Friday,
any change in momentum for the ADP data could be significant. Economists polled by MarketWatch
expect the government’s report for September to show that nonfarm payroll accelerated to
169,000 jobs, a little better than the 151,000 in the prior month.
However we suspect that the markets sense the jobs data will be disappointing on Friday
as Wall Street rose after two days of losses partly because of the Report and after a surge
in oil prices helped the energy sector. Oil prices rose above $52 today with Brent Crude
closing at $51.76 and US Crude at $49.83 – a level not seen since June – after data showed
a bigger-than-expected drop in US crude inventories. Disappointing labour figures will mean a delay
of any rise in interest rates and that is positive for stock markets.
So what about gold and silver we hear you ask. Well our thoughts are that current prices
offer good value if you are light in your portfolio. If you have plenty then perhaps
it’s worth waiting for the results in case we are wrong and they are better than expected
and gold and silver prices fall further. However we believe at best they will be neutral or
disappointing and that should support gold and silver prices, which we see rising in
any case as the election in November looms. We hope you have found this video interesting
and informative and if so, please give it a thumb up and share it on twitter. Also kindly
visit our website at illuminatisilver.com and if you haven’t already done so please
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is updated daily can be found at facebook.com/illuminatisilver Disclaimer: Illuminati Silver owners come from a background
of Banking, International Wealth Management and Economics. Having now retired from these
worlds we are not qualified to give investment advice. Therefore, this and other productions
must not be deemed to be giving such advice and merely represent the personal views of
its owners.

7 Comments

  1. http://www.zerohedge.com/news/2016-10-05/major-victory-gold-silver-traders-judge-approves-manipulation-lawsuit-against-hsbc-s your opinion please.

  2. back the truck up, fill it with precious metals…even if the fed continues to attempt to demonstrate it has little value

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