Gold Climbs From One-Month Low After Strong U.S. Jobs Data
Comment of the Day

March 30 2022

Commentary by Eoin Treacy

Gold Climbs From One-Month Low After Strong U.S. Jobs Data

This article from Bloomberg may be of interest to subscribers. Here is a section:

Gold climbed from its lowest in a month as real yields declined following a strong U.S. jobs report that underlined inflationary pressures in the economy.

ADP Research Institute data indicated higher wages are helping fill a near-record number of vacancies in America, potentially stoking price pressures. Market-based measures of inflation expectations climbed after the report, trimming real bond yields and supporting gold.

The Federal Reserve’s increasingly aggressive approach to curbing inflation is still weighing on the non-interest bearing precious metal. Philadelphia Fed Bank President Patrick Harker said Tuesday that he expects a series of “deliberate, methodical” rate increases this year, but is open to a half-point move in May if inflation accelerates.

Eoin Treacy's view

The yield curve inverted during yesterday’s trading session. That started the clock on the beginning of the next recession. It’s a reliable lead indicator for future trouble with anything from a six to eighteen-month timeframe.

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