So let us get right to it because first of all we take a look at the gold and silver prices. Here you can see gold up 44 bucks and that just jumped a couple minutes ago. It’s 835 five minutes after this labor report came out where payrolls unexpectedly fell by 92,000. They were expected to increase by 50,000. So this was a miss of 142,000 unemployment to 4.4 percent. You can only imagine what the Trump administration and the federal reserve will have to say about how strong the economy is. Although you can see the numbers did not support that and in response gold up 44 dollars now and we see it was at 5,080.

So that 44 dollar jump pretty much just in the last couple minutes. Similar with silver where it was down slightly now went over 82 and up to 83.70 in the futures. And it’s interesting because after that sell off at the beginning of the week you know it’s been choppy and silver. Similar with gold and it’s funny because you have this article here from Bloomberg where they’re saying are the safe havens gold treasuries have they failed to safe havens because they haven’t responded in the way that some would think they should respond given the Iran war.

Although I think more than ever you know a lot of these things take time to price in. A lot of the time people don’t really know what’s happening. I mean how did did you know what was going to happen this week in the war in Iran a week ago. So some of these things develop over time and I think that’s why you see the gold and silver price is not really a big response one way or another. I think once things sink in I don’t know that this is going to be the straw that broke the camel’s back which is more so another brick in the wall.

It’s going to be more money spent more uncertainty and anyway you have fifty one twenty three gold eighty three seventy eight silver and a payroll that missed this is a big miss. I mean this is not only a big miss but when you’re expecting an increase and then it falls by ninety two thousand and the unemployment rate rises. That’s the kind of miss that could affect interest rate policy. Let’s just say with Kevin Moore’s getting a little closer to coming in. So anyway we’ll see where the pricing is. I’m going to try and get this one posted quickly so you can won’t be too much longer until that goes up.

But we’ll see how gold and silver respond especially when you add in the other things that are going on here in response to the events in Iran WTI crude tops 86 Brent crude breaks 89 and let’s put that in perspective here’s your oil chart and that’s quite a move. We were at let’s go back to the we’ll do a look at the three month if you will here and here we are back on February 26th. So that was just a little bit over a week ago. We were in the 60s. Oil is now thirty three percent higher.

Then keep in mind the Fed claimed that they were going to bring inflation down through a series of interest rate cuts and in their dot plot they didn’t even factor in that Trump has called for rates one percent or lower and seemingly on track. I know there’s some senators and congressmen who don’t want to bring worship because they’re upset that Trump filed a lawsuit against Powell who could not see that inflation was going to be longer than transitory. Here you have it there. They were calling to beat this inflation which still has been over the Fed’s two percent mandate since April of 2021 where now that’s next month that’s going to be five years.

Their plan was to bring that down by further cutting interest rates and that was without even factoring in if worse gets in and implements the Trump interest rate policy which you could say that anyone’s personal feelings aside given that they don’t seem to want to be a vassal of China and they do want to reassure you could say regardless of how anyone feels about it is necessary to do that. And now you have the oil price going up thirty percent in about 10 days. So you could say that is not your ideal combo especially here was Bloomberg yesterday mentioning an Iran war oil shock threatens to unleash a wave of global inflation sustained high oil prices would boost inflation slow growth putting central banks in a tough spot.

You could say that. So we just got the unemployment report was a disaster. So not good sign of growth. Now we see oil rising. It’s like the old Jim Willie. We need rate cuts and rate hikes which means they need the rate hike and the rate cut. They need a rate hike and the rate cut. And of course in terms of that oil shock we did have the news the other day Iran vows to attack any ship trying to pass through the Strait of Hormuz. Then a day later we see that they say they hit a tanker.

Now Trump is saying he wants the U.S. Navy to escort tankers to the Gulf. CNBC offers why that plan may not work. Although China is in talks with Iran to allow safe oil and gas passage through Hormuz. So I mean we will throw in some de-dollarization into everything else that is happening here and you can see the way the globe is being split into two very distinct sides. And then on top of it you have gold getting stuck in Dubai because now all of a sudden there’s disruptions in being able to ship things around.

Gold is being offered at a discounted Dubai due to war in the Middle East. Grounding flights and hampering suppliers abilities to move bullion out of the key trading hub. Sounds a little bit like what we saw during Covid and then of course that was hardly the only one. Because as I mentioned on our sub-stack yesterday we’ve had a few forced majeurs in the commodity space just in this past week due to war disruptions. And I’m guessing that might not be the last that we see things like that pop up. Although one way to stay posted on that is by going to goldandsilverdaily.substack.com where we have a written column each day that keeps you up to date with the most important shifts and trends and developments happening in the gold and silver markets.

So you can always just click on the link in the description field to go on over to goldandsilverdaily.substack.com and in terms of everything that’s going on right now especially the Iran war and you’re wondering how will this impact the gold market. Well fortunately we talked about exactly that and just click on the video that’s coming your way now. [tr:trw].

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