OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

especially after yesterday’s drubbing, time for these things to start reflecting the strength in the metals.

This is helpful for gold=

Investors cheered and stock futures rose as the weaker-than-expected jobs report all but cemented the possibility of a second interest rate cut.

The U.S. economy added fewer than expected jobs in August.

Here were the key employment figures from August, compared to Bloomberg-compiled estimates:

• Nonfarm payrolls added: 130,000 vs. 160,000 expected
• Unemployment rate: 3.7% vs. 3.7% expected
• Average hourly earnings MoM: 0.4% vs. 0.3% expected
• Average hourly earnings YoY: 3.2% vs. 3.0% expected

July’s employment figure was revised to 159,000, down from the 164,000 positions previously reported. The labor force participation rate ticked higher to 63.2%. The manufacturing sector added 3,000 positions in August.

The retail sector lost 11,000 jobs during the month. Retail payrolls fell for the seventh consecutive month, the longest losing streak since 2009.

Wells Fargo economist Sam Bullard predicted that only 135,000 jobs were added in August. “Monthly job gains have slowed so far this year, yet the underlying pace is still solid enough to promote moderate GDP growth,” Bullard wrote in a note Thursday. “That said, the U.S. labor market is not immune to the deceleration in the pace of overall economic growth we have seen recently, and will ultimately show up in future hiring plans.”

10 yr. now 1.558% and appears to be taking the stairs down

As for RSI’s SLV’s RSI closed yesterday at 64, I just think if it had opened down $.47 like it was in the premarket, it would have been around 50. GLD probably below 50. That’s plenty if we’re in a real bull.

Maybe I’m overly optimistic about today. We’ll see how it ends up.

Eldorado finds new Canadian mine may be richer than thought

Eldorado finds new Canadian mine may be richer than thought

Benchmark Metals gets $3m injection from Eric Sprott

Benchmark Metals gets injection from Eric Sprott

The only thing I’m seeing is that pm’s are acting like the SM has acted for the last 8-9 years. Every scary dip was bought.

I can only hope we’ve entered that period with pm’s.

That’s great if our correction is over. Pretty brutal yesterday but like you say it knocked down a lot of the RSIs into reasonable territory.

Got my fingers crossed amigo! 🙂

Yep, jobs report was a miss, not horrible but enough to ensure a rate cut.

Rates are dropping now, this could end up being a nice reversal day from the overnights.

10 yr. finally rolled over 1.564% – Game on

Between yesterday and the overnights we worked off a lot of that overbought condition, no reason we can’t start rolling again IMHO

show metals moving up.  it’s a bounce, or at least the beginnings of one.  🙂

from a few months ago-[anybody remember the. date?]–where we had a big scary candle down day and the next day got a big happy candle up day…but let’s not get too carried away…and start singing along with Gordon “everything’s going our way”…

yesterday I kept harping about the dollar being down…that didn’t make. sense to me and, so far, looks like it was an. earnest of things to come–as I write I see gold up 5.20 and silver up a penny or 2…it’s still early in the day but maybe gold’s going back to being the leader….

yesterday, 2 of the boys on trader talk said. they still liked gold and. were still buying…gold is rarely mentioned on that show or anywhere else.

SLV was down $.47 when I woke up this am, now up $.07

Shorts getting crushed.

GLD was down $1.30, now down $.21

The only thing stopping us right here is a little bit of buying in the SM, but the 30 yr. has rolled over, the USD has rolled over, if the 10 yr. rolls, it’s game on.

Bayer Woes Deepen As Germany To Ban Glyphosate Weedkiller By 2023

https://www.zerohedge.com/news/2019-09-05/bayer-woes-deepen-germany-ban-glyphosate-weedkiller-2023

That’s a miss, previous months revised lower

What we have here is a bull market, with a scary, short sharp correction.

SLV went positive briefly, GLD was trying, rates moving lower – exactly what we had to see. It’s a battle though.

I’m seeing some short covering in SLV since the Crimex has opened

also GLD – we’ll see what happens in 2 minutes

Hitting PM’s in dead zone right before crimex opens…..

If this is a real bull in pm’s, we bounce today.

Just sayin’…. 🙂

edit: If I had any cajones I’d be buying the premarket ahead of the jobs report, however the last 8 years has castrated me. 🙂 🙂 🙂

China Cuts Required Reserve Ratio Releasing $126BN In Liquidity; Yuan Surges

https://www.zerohedge.com/news/2019-09-06/china-cuts-required-reserve-ratio-releasing-126bn-liquidity-yuan-surges

The silver ‘spirit of the UP’ pulls the
gold train thru Omaha.
https://railpictures.net/photo/703623/