Gold price, page-4265

BOE cut was a good sign of the real state of play. When they held off last month it was almost a ruse that Brexit wasn't a big issue and that they could get through things alright, maybe just because it was so close to vote. Now they have made the cut, the cat's out of the bag, that was essentially the acknowledgement of "look guys we are eff'd". How long before we see NIRP in the UK? Once the UK hits recession and economic consequences swirl out in a contagion to the rest of Europe, what happens? I am not sure Mario has any weapons left?

Largely agree with others that NFP is a lesser event now as the FED can just use the propaganda of the rest of the world holding them back from rate rises regardless of what their domestic data is showing. And so the mantra will be "The US economy is doing well but we are worried about the rest of the world". ADP data has proven to be lacking in the last few months. Initial and continuing jobless claims both higher than consensus last night. Maybe this will be an indicator of what we will really see tonight from the NFP. If not it might be an indication participation rates are up. As an interesting note of a population of 300m+ in the US, you would assume maybe 60% are working age. That is 180m people. at 200k jobs per month generated that is 2.4m per annum (they aren't even hitting this at the moment). That is 1.33% of the working age population gaining jobs each year. An increase of 1% in the participation rate and that is basically a years worth of jobs creation screwed. Nothing like some people deciding to look for work to ruin an unemployment rate!

On a final side note, as of Wed, Van Eck up to 105.6m shares in GDXJ. That is basically bang on 10%. Last sub holder notice was 9.17%. So about another 1.5-2m shares and they will have to give an updated notice. Always looks good for non-holders when they see people taking a huge stake.