Loading ...R6 – 20% correction takes us back to $1200. I don’t know if the guys that said they would buy it will or not but I’ll bet against a 20% correction. Whatever got gold here above $1500 in the first place is still with us, I don’t think it has suddenly gone away.
As for the jobs report, it’s a crapshoot. I’ll bet on a miss, and below ADP’s number of 195K
Not the close I was hoping for to be sure, so maybe everything is done. If the Fed is back to buying treasuries, I doubt gold is done. The debt cannot be serviced with higher rates. JMHO