The final Non-Farm-Payroll report from the U.S. Bureau of Labor Statistics led with a headline drop of 0.3% in the U-3 Unemployment Rate in September, allowing President Obama the opportunity to crow about how many McJobs he created in his 4 year term and that’s why we should give him another 4 years to finish the job of turning the entire workforce into contract day laborers who have to pay for his vision of an ever inflating public welfare system; funnelling even more money into the pockets of his campaign donors.

Not that the Republicans want to do anything less.  It’s the surreality of the numbers that is insulting.

This gave the algorithms all the ammunition they needed to whack Gold back down from near $1800 per ounce delaying the inevitable for one more week.  In the end, however, Gold ended trading with its highest weekly close since early November of 2011.  This sets up the rest of October perfectly for a potential assault on the all-time high, believe it or not.  Closing at $1782.65 on the December contract was an enormous accomplishment considering the ferocity of the capping action that took place at times all week.

But the markets didn’t really believe this report any more than I do.  Equities were flat, because they are not allowed to go down, while Silver was pushed back from $35 (again) and WTI crude futures gave up the $90 level and yet Brent crude was flat, taking the WTI/Brent spread to just under $22.  Again, anyone who doesn’t think this is all politically-driven to create a false reality is doing better drugs than the guys at the BLS.

The only good news was that coffee futures were off more than 7% on the day.  Hurray for cheaper stress management tools.