| Yesterday’s non-farm payrolls report delivered news that was devastating to gold, and every other risk asset.
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| The report showed 336,000 jobs created in September, up from 227,000 in August and double the consensus estimate.
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| It was a blockbuster jobs report...completely unexpected...and a clear sign that the Fed’s rate-hike crusade has been unable to topple the buoyant U.S. job market.
Most importantly, it added to fears that the Fed will renew its efforts to kill off the labor market by piling on with more rate hikes.
Understandably, the markets tumbled on the news. The Dow immediately dropped 270 points and gold took a nose dive, as Treasury yields and the Dollar Index leaped higher.
Then...it all turned around.
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| The stock market rebounded, with the major indices rising 1% or more, the Dollar Index fell well into the red and gold soared as much as $15. Silver catapulted 2.75% higher.
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| These moves are a huge relief for the markets, but none more so than with gold. As I detailed in a Gold Newsletter Alert this week, gold touched a technical “death cross” during Thursday’s trading. This happens when the 50-day moving average falls below the 200-day moving average.
Since Covid hit in 2020, gold has had four technical death crosses. In three of those four instances, the short-term moving average fell decisively through the longer-term moving average, and the gold price continued to decline for a few months.
In the remaining instance, however, the averages barely touched — as they did yesterday — before they reversed. And then gold took off like a banshee, rising from around $1,800 to well over $2,000 over just a few months.
Huge profits were made in junior mining shares over that time period.
Yesterday’s rally in gold and silver is a prime indication that we may see another sky-rocketing move like that.
And it’s coming just in time....
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| In just a few weeks now, the world’s top experts in macroeconomics, metals and mining are gathering together to show elite investors how to capitalize on this crucial turning point in the markets.
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| You can be among them at this year’s New Orleans Investment Conference. In fact, because I know you’re a serious investor, I can say that you need to be among them.
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| But you may not be, if you don’t act right now.
You see, our room block at our convenient host hotel, the magnificent New Orleans Hilton Riverside, is closing next week. So if you want to guarantee your room, you need to register immediately.
The good news is that our lowest registration rate is still in effect, and you can save a full $400 if you also register now.
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| I urge you to click on the link below to get all the details on this year’s conference, including our “Dream Team” line up of speakers.
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| Please don’t delay — I don’t want you to miss this historic opportunity.
Looking forward to catching up with you down here in New Orleans,
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| Brien Lundin
Publisher, Gold Newsletter
CEO, the New Orleans Investment Conference
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| CLICK HERE
To Secure Your Spot At
New Orleans ’23
And Save Up To $400!
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