June Rate Hike Off The Table, July Uncertain, But September A Possibility
Gold price are soaring on the back of lower bond yields and a weaker U.S. dollar following a massively disappointing May employment report, shifting expectations for rate hikes later in the summer.
Read moreGold Adds to Post-Jobs-Data Gains To Trade Sharply Higher
Gold prices are trading sharply higher, near the session highs, and are poised to close at a technically bullish weekly high close in late-morning dealings Friday.
Read moreMitsubishi: U.S. Jobs Data Boosts Gold; ECB Meeting Also Has Implications
A weaker-than-expected May U.S. jobs report bodes well for gold but this week’s meeting of the European Central Bank also has implications for the yellow metal, says Mitsubishi.
Hope You Were Not Short Gold
As we have indicated for some time now, the US economy does not warrant a Fed hike, notwithstanding the Fed’s insane desire to raise rates.
Gold Surges Following Downbeat U.S. Jobs Report
Gold is trading solidly higher in early U.S. trading Friday, following a big miss to the downside on the non-farm jobs component of the just-released U.S. employment report.
Read moreOuch! U.S. Economy Created 38K Jobs In May, 160K Was Expected
Kitco News reports on U.S. nonfarm payrolls data for April
Read morePrimero Files Notice Of Intent To Pursue International Arbitration Vs. Mexican Government
Primero Mining Corp. (TSX: P; NYSE: PPP) has signaled it will challenge a tax ruling by the Mexican government, reporting that it has issued a notice of intent to submit a claim for international arbitration under provisions of the North American Free Trade Agreement.
Cash, Bonds and Gold
Since the beginning of May when April US employment printed weaker than expected, gold has declined, stocks have gained and Fed tightening expectations have increased. It appears the marketplace is expecting May data to offset April.
Read moreGold Can’t Find Its Way While Yen Charges On as Safest Haven
Today’s figures and one international development added more fuel to the confusion fire. The outcome? We do not believe the FOMC will raise overnight rates come June 15, less than two weeks from now.