May 7, 2021

Gold and silver rose 3.5% and nearly 6% respectively, having one of their best weeks in months, as Treasury yields declined and today’s jobs data for April missed estimates by miles. 266,000 jobs were added last month, and unemployment jumped to 6.1% (vs 978,000 and 5.8% expected).  The miss illustrates that we still have a long way to go economically to get back to pre-COVID levels.  Stocks are up across the board with the Nasdaq leading the way, up 1% and looking to gain back some of this week’s losses.  The Dow and S&P 500 are up 0.65% and 0.80% heading into the final hour a trading.