Pivot Schmivot! Gold & Silver Fall On News Of Plunging Unemployment Rate, Another Rise In Hourly Earnings, And Goldilocks Job Growth

It's not looking so good for Team Pivot...

(by Half Dollar) The Employment Situation Report, commonly called the Jobs Report, has just been released for the month of September, 2022.

According to the BLS:

Total employment increased by 263,000Unemployment rate fell to 3.5%Average hourly earnings rose by $0.10 per hour

That doesn't sound good for Team Pivot!

Gold & silver gyrated and fell at the release of the report:

The Fed Pivot cheerleaders are going to need some different data.

Developing...

Investment banks ahead of the gold price, institutions still behind

Gold stocks up, juniors outperform on small cap strength

Gold stocks rebound to new highs

US$ and bonds not the safe havens normally expected

Crash driven by tech and highly cyclical sectors