The price of gold has surged $180 in just 5 trading days, silver over $2.50, but take a look at this…
Gold Surge
September 3 (King World News) – Peter Schiff: Gold is up $180 over the past five trading sessions, and silver is up over $2.50. Fed officials are blind to this clear vote of no confidence in their policy pivot. It also shows a loss of confidence in the U.S. economy and our ability to ever get our fiscal house in order.
Stagflation
Peter Boockvar: In July, there were 7.181mm job openings in the US economy (with double/triple counting taking place) and that is a reduction from the 7.437mm seen in June and 200k below expectations. That’s also the least since September 2024.
The hiring rate was 3.3%, at that level for a 5th straight month and that is just one tenth above the lowest level since 2013 not including Covid.
The quit rate was 2% for a 4th straight month. That’s one tenth above the lowest since 2015, also not including Covid.
Likely due to the data center buildout, the demand for construction jobs rose to 306k from 242k and that is the most since May 2024.
Job openings for ‘information’ were up too, the highest since November 2022.
Where most of the job opening decline took place was in health care/social assistance and in the ‘arts, entertainment’ sector. We know that health care/social assistance has been the main area of job gains over the past few years.
Bottom line, while dated this data point does confirm the slowing pace of hirings being seen in a variety of stats in the aggregate but something we’re well aware of and why the Fed is cutting rates by 25 bps in two weeks.
Greyerz Just Warned He’s Seeing Physical Silver Shortages – Price Set To Skyrocket
KWN readers around the world need to stop what you are doing immediately and listen to one of the greatest audio interviews that Egon von Greyerz has ever given discussing this critical moment in history where he imminently expects to see skyrocketing silver, gold, and mining stocks, and where he discusses exactly what investors need to be doing with their money right now and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
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