Went to bed with the assured knowledge that there was no way never the interest rates would go up. Wake up to the news that the US employment numbers rose with unemployment down to 4.5%.
The news though is mixed. Weighted against this is flatfish wage growth, so one could argue at the top end of 2.5% - 3% growth hardly is an argument to rate central bank rate. The American economy has been flat lining and so at the first sign of life will they risk stalling the engine again ?
Where does this leave SLR and for that matter gold. I read the news, Trump could actually be a secret lefty but his appointments have been the opposite. Right wing. Time to buy back into oil companies for sure with the new defence secretary seeing Iran as their biggest threat to way of life.
SLR has bucked the trend, but where will gold go with so much uncertainty ahead. I feel a slide is due coming up to christmas, but with massive growth as the trump cabinet is appointed and a clearer picture is given where the man is going to take the US and the west !!
If we has some clear indicators from SLR, this would certainly help investors as to whether to hold, buy, or for that matter sell. I am sure though, the management in situ are giving the right signals.
SLR Price at posting:
56.5¢ Sentiment: Hold Disclosure: Held
