This is getting fairly common Suspected favorable US job figures out tomorrow shouldn't drop gold by that much????
http://www.marketwatch.com/Economy-Politics/Calendars/Economic Fun night tonight.... any excuse for a smack-down.
http://www.marketwatch.com/Economy-Politics/Calendars/Economic Fun night tonight.... any excuse for a smack-down.[/quote] hmmm... 162k
It's gonna take some serious news to get back to the days of dollar moves... Keep it up Ben, doing a great job...
I am a bit confused. I assumed that a recovering US economy would trigger a stronger USD and cause the Fed to slow down QE (slow money printing) which in turn would scare investors away from the paper markets (bonds especially) and into commodities like precious metals which in turn would boost the spot prices much higher. But so far, Fed hasn't signaled any specificity that it will slow down and even if it did, would that really mean that investors would rush into commodities when stocks still do well in an up economy? Isn't it really the big investors whose sentiment bends spot price far more to its will than all the demand by industry and all stackers combined? . .
US job numbers are in and they are pretty crappy. +166k but over half are retail and hospitality. Looks like QE will continue for a while yet, hence the spike in PM prices.
But they (jobs #'s) are better than projected so that would cause sentiment to believe recovery is fine. Maybe this is simply a volatile pm market....quick spikes up and down. It will probably spike down by the end of the US market day. .
makes sense to me, 185k expected and we got a lower number. Not going to see any tapering from Benny if that becomes a trend.
Well we haven't seen any sign of tapering since January yet PMs got killed - explain that one So far this year it's been: economy looking bad - PMs down economy looking good - tapering fear - PMs down