Why the Jobs Disaster is Splendid News for Gold

While the disastrous monthly jobs report reflects poorly for the U.S. economy, it is splendid news for gold. New job creation tanked in March, and that news plus the prior month revision is causing a reevaluation of the economic situation altogether. The repercussions of this and how it affects gold may be complicated, though the immediate effect should be significantly positive. See my full report on gold here.

Precious Metals Relative Security	YTD	TTM
SPDR Gold Trust (NYSE: GLD)	+1.1%	-8.2%
iShares Silver Trust (NYSE: SLV)	+6.4%	-16.4%
Market Vectors Gold Miners (NYSE: GDX)	+3.3%	-21.2%
Direxion Daily Gold Miners Bull 3X (NYSE: NUGT)	-12.8%	-71.9%
Goldcorp (NYSE: GG)	+1.6%	-20.3%
Newmont Mining (NYSE: NEM)	+15.6%	-6.9%
Rangold Resources (Nasdaq: GOLD)	+3.8%	-6.8%

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