Loading ...Pretty quiet in the overnights. Gold was down earlier, but now only down $3. Silver up $.04. Industrial metals are up across the board, 1/2 to 1%. Oil is down $.66, back below $80
USD is down a little, rates down 4 bips to 3.27% and continuing to weaken, SM futures basically flat, world markets up slightly across the board. Soft commodities mixed, notably lumber is up another 2% after yesterdays’ gains. Bitcoin is down two hundy’s – hanging out around $28K.
Bloomberg reporting that there is a 97% chance recession starts in July. Probably already started, at least according to the eco data we’ve seen over the last week.
Eco data today is light, the weekly unemployment is out a couple hours from now. Don’t see that as a threat to gold.
Another flat to slightly down day makes sense before ripping higher Monday after the jobs report. SM closed again tomorrow.