Gold Ticks Down On Positive Jobs Report August 4, 2017 Champagne on Wall Street and Jobs, Jobs, Jobs… The Dow hit 22,000 this week, achieving a new record high, however precious metals have been holding their own despite the big party on Wall Street. Those loud popping noises you’ve been hearing are all the champagne bottle corks flying in every direction. Gold is coming off a six-week high this week, however as we all know too well, the monthly U.S. employment report from our Labor Department is most certainly a key indicator of price swings at this same point every month. Out this morning, U.S. added 209,000 jobs in July with unemployment dropping from 4.4 to 4.3, that’s the lowest in about 16 years. Also on the positive side, wages are up slightly by .3%, that puts wages up 2.5% from last year at this time. Gold was immediately affected when this news hit, dropping about $7 from $1,268.80. Gold is hanging tough at $1,262.70 at the time of this writing. Safe haven demand for gold is likely to remain active and high, given the spikes we see every time Kim Jong Un gets the inclination to test another of his intercontinental ballistic missiles. Does anyone else wonder about his surplus? The U.S. Dollar Index hit a 13-month low on Wednesday of this week, boosting the precious metals trade in both gold and silver. One hopes this boost will continue to provide a hedge for metals traders. Silver prices have been on the rise for the fourth straight week, but it was dinged by .18 when the Jobs report was announced this morning and is currently trading at $16.63. It’s been a busy and productive week. So have a wonderful and safe weekend… Disclaimer: This editorial has been prepared by a senior staff member from Dillon Gage Metals. This document is for information and thought-provoking purposes only and does not purport to predict or forecast actual results. It is not, and should not be regarded as investment advice or as a recommendation regarding any particular security, commodity or course of action. Opinions expressed herein are current opinions as of the date appearing in this editorial only and are subject to change without notice and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, results are likely to vary substantially. All investments entail risks. There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate its ability to invest for a long term especially during periods of a market downturn. No part of this editorial may be reproduced in any manner, in whole or in part, without the prior written permission of Dillon Gage Metals. This information is provided with the understanding that with respect to the opinions provided herein, that you will make your own independent decision with respect to any course of action in connection herewith and as to whether such course of action is appropriate or proper based on your own judgment, and that you are capable of understanding and assessing the merits of a course of action. You may not rely on the statements contained herein. Dillon Gage Metals shall not have any liability for any damages of any kind whatsoever relating to this editorial. You should consult your advisers with respect to these areas. By posting this editorial, you acknowledge, understand and accept this disclaimer.