Gold is the anti-currency. It rises when the market senses that paper currencies are being debased. Today’s data severely crimps the odds of the Fed switching on the printing presses in the near-term and s promoting a repricing of assets linked to that notion.
Bonds are falling and so are metals. It;s more of a mixed bag for other commodities like oil. They are boosted by signs the US economy may not be as weak as feared but hurt by financial investors cutting back on “hard” assets as they try and hide from currency debasement.
Gold is down to 1239 from above 1250 ahead of the data…
