Loading ...-good news! This should pop gold=but the bad news: every jobs report gold pop gets reversed in a few days=different this time?
ADP Shows Weakest Job Gains Since Sept 2017 As Manufacturing, Construction Shrink
Following last month’s weak ADP print which front-ran the dismal “must be an outlier due to weather, shutdown, or anything else” payrolls data, expectations were for a slightly weaker ADP employment headline in March.
However, despite the apparent emergence of ‘green shoots’ around the world, ADP disappointed, adding just 129k jobs in March (well below the expected +175k and only just above the 125k lowest estimate of analysts). This is the weakest growth in employment since Sept 2017…
[LET’S PUT IT THIS WAY: if this report is correct…and one took some positions on Thursday, I’d think there’d be little risk of the downside/gold liquidating…the only question would be how much upside would there be before “someone” dropped a zillion contract sell order on the Comex?]
