So, were 93% of these new 'jobs' in May created out of thin air using the time-honored computerized birth/death model? And what about the tens of thousands of small businesses across America that have had to close their doors permanently due to the enforced lockdowns? We're not even going to consider the impact of the riots...

93% Of All Jobs "Created" Since 2008 Were Added Through The Birth/Death Model
ZeroHedge | June 3, 2017

Gold prices sharply down after shocking rise in US jobs in May
Jim Wyckoff
June 5, 2020

[snip]

(Kitco News) - Gold prices are sharply lower and hit a six-week low in early U.S. trading Friday, in the immediate aftermath of a stunning and completely unexpected big rise in U.S. jobs in May. The employment situation report from the Labor Department showed a rise of 2.51 million in non-farm payrolls in the month, which is way above market expectations for a decline of around 8 million.

In the April jobs report, there was a 20.5 million drop in non-farm payrolls. The unemployment rate of 13.3% in May was also way better than market expectations. Risk appetite is now very keen late this week, and that’s bearish for the safe-haven metals. August gold futures were last down $37.00 an ounce at $1,690.20. July Comex silver prices were last down $0.516 at $17.55 an ounce.

It's all smoke-and-mirrors...