NFP News Releases... bad idea to trade them because look at July NFP numbers (positive) Gold & Silver shot down then up. Strange. When brokers collectively send out emails about the NFP 24-hrs prior to the release dictating the risks of NFP. Maybe should listen.
Hypothetically speaking, say I knew what NFP was going to be before the July release 24-hrs in advanced. Knowing they were going to be positive, I would have gone short. Well.... NFP for July were positive and Gold went down THEN.... UP!
The SPX is hitting all time highs and I think it will continue. XAU and XAG.... pressure will remain. But they are not in bear market. Pullback in Gold and Silver are needed as they will just go higher.
One thing I know about America and these NFP numbers is they are based on cheap labor expansion. Completely true. Look at a company called Rhino Staging. They are a labor force company specializing in the builds of concerts and festivals. They hire anyone and everyone, people with no experience to partake in work. Working for Rhino starting pay in the state of Nevada is $18, starting pay in the state of Arizona is about $12. They rarely give work because they are always hiring new comers. Companies like this are why your NFP numbers are so high.
Majority of Americans are holding 2-4 jobs.
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Thanks for the good article
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