Gold jumped above $1,800, and it’s the disappointing jobs data that added fuel to the fire. The gold market is a funny place. On Thursday (May 6), I complained that the yellow metal couldn’t surpass $1,800:
“Knock, knock, knockin’ on heaven’s door”, so sing Bob Dylan and Guns N’ Roses. Now, inflation is knocking on the golden door. According to the BLS, the U.S. CPI inflation rate recorded a monthly jump of 0.6% in March, while soaring 2.6%...
There’s no inflation … None at all. Only, completely by accident, lumber prices are skyrocketing. Gold is likely to remain silent, but it may catch up later.
Last week was full of big events. The FOMC released its newest statement on monetary policy meeting, while Powell held the press conference. On the same day, President Joe Biden made his first speech to Congress . Let’s take a look at his...
Although spring has begun, we can still find ourselves in winter, or even summer. Gold may benefit from such a seasonal aberration. Oh, how wonderful, spring has finally started, hasn’t it? We have April, after all. Well, in calendar terms...
On Wednesday (Apr. 28), the FOMC has published its newest statement on monetary policy . The statement wasn’t significantly altered. The main change is that the Fed has noticed the progress on vaccinations and strong policy support, and...
The Governing Council of the European Central Bank met last week, keeping its monetary policy unchanged. The inaction was widely expected - no surprises here. The June meeting could be much more interesting as the ECB will have to decide...
We live in turbulent times. The pandemic is still raging and will most likely have lost lasting effects on our society. But a revolution is also happening right before our eyes. And I don’t mean another storming of the U.S. Capitol or the...
The price of gold rebounded further, despite hawkish Powell’s letter to Senator Rick Scott. The second quarter of 2021 started much better than the first one for the gold bulls. As the chart below shows, the yellow metal rebounded from the...
Several economic indicators have surprised us on the positive side. Nevertheless, the price of gold has rebounded.