Markets are a bit jittery preceding U.S. jobs report due out Friday U.S. time. A lot of (I believe exaggerated) importance is being placed on this report, which is expected to be a big influencer on anticipated U.S. interest rate drops. The numbers will be manipulated, as proven by employment numbers being consistently and constantly revised downwards after initial predictable and exaggerated upbeat numbers. The U.S. interest rate adjustments will be influenced by many greater factors than this week's employment numbers. I like the recent news about Russia's announcement of planned gold and forex purchases. And China is apparently admitting to buying gold again. And India has been voraciously accumulating silver. And Turkey has been a big buyer of gold, and not coincidentally applying to join Brics, which is another indicator that gold will play a part in whatever financial network Brics eventually employ. Extremely important Brics meeting coming up in October. Countries are queing up to join Brics. Dumping U.S. dollars. Geopolitical issues widespread. U.S. elections on the boil. More bank issues, and potential failures, related to high interest rates, high commercial property vacancies, and plummeting commercial property values and bad debts are building up. Central banks stockpiling gold. Comex and LBMA vaults are being depleted of both silver and gold. So many reasons to buy gold. And here's WA8, only a week after announcing high grade antimony assays, selling for bargain prices, lower than prior to the antimony announcement. (I was going to say dropping another .002 today, but a last check shows that somebody took out a few sellers right on the bell, to close .001 up.) I topped up again at .062 today. I'm now a little overweight in WA8. Gratfeul to the sellers. And nice to see the last minute bump in price for Friday's close. From a CNBC article on Forex Factory site today: "Wall Street is gearing up for one of the most important economic releases of the year Friday, when the Labor Department puts out a jobs report expected to go a long way in determining the future of Federal Reserve policy.The Wall Street consensus is for nonfarm payrolls growth of 161,000 for August and a slight decline in the unemployment rate to 4.2%, according to Dow Jones.However, recent data, including a massive downward revision to previous counts, has pointed to a sharp slowdown in hiring and has put some downside risk to that forecast.In turn, markets are certain the Fed will start lowering interest rates in a couple weeks, with the possibility of a jumbo cut depending on what Friday’s report shows."
WA8 Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
