Time to buy in, page-137

The threat of US Interest Rate Rises has seen the price of gold drop from US 1,300 to US 1,200, and some negative sentiment creep in towards all gold stocks. The US Payroll data last night was meant to be the final nail in the coffin that sent the Aussie Dollar spiraling towards 50 cents, and the gold price plummeting to US1,000. Here's the report from last night:

"The May US labor market report wasn’t just a disappointing report, it was unequivocally the worst case scenario for the US Dollar. At 38K, the US economy added the fewest jobs since September 2010. The three-month average plunged from +181K in April to +116K in May, as another -59K jobs were lobbed off in revisions of the prior two months of data.

Disparingly, the internals of the May US labor market data did not shed positive light on why the U3 unemployment rate fell fell to 4.7% - a new cycle low. A closer look shows that the labor force has shrunk by over -800K jobs the past two months. Even adjusting for the survey quirk that counted around 35-39K Verizon workers on strike as ‘unemployed,’ there’s really no silver lining here, even if wage growth held at +2.5% y/y."

The Aussie Dollar has jumped 1.5 cents, and Gold has jumped to US 1,244! There will be NO further US interest rate increases this year. The cloud hanging over the gold industry's head has just been lifted.

Back to the 4 cent train station we go, and when we leave there the express to 6 cents will depart. The gold bull run has just started, and when results come out in Q3 we are perfectly placed to take advantage of it.

Beware the so called "experts" of the finance world and the media, beware the trolls, and especially beware the downrampers, and especially beware the Fred Flintstones of the world.

Mark down today as the day we commenced liftoff!