Is the macro picture for oil and gold changing? The softer-than-expected U.S. jobs numbers for June sent both crude and the yellow metal rallying on Friday as the dollar tumbled its most in a day percentage-wise since February. All eyes are now on the coming week’s reading on inflation, which, if tame, could unleash more risk appetite. Yet, there’s no sign that the Federal Reserve - which is the point of all this fuss - is having a rethink about raising rates at least twice more before the year is out. The Fed, as we know, has brought rates to a peak of 5.5% from the 0.25% they stood at prior to the pandemic. While ... (full story)