SPDR Gold Trust (GLD)

[alexander77]

Actually there's a payroll drop of 1,030,000

"Underneath the hood, there may be cause for concern looking at the non-seasonally adjusted numbers, which show a payrolls drop of 1,030,000 in July. To be fair, there is a fairly regular seasonal drop twice a year: from June to July, and from December to January.

To normalize the non-seasonally adjusted data, a year-over-year comparison for July payrolls shows an increase of 1.70%. But this annual growth figure has been in a downtrend since February 2015, having peaked at 2.3%. The bottom line is that trend growth in payrolls has been declining for the last year and a half. "