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Gold Attempting to Break Higher
Gold prices are almost back to flat on the week after a strong rally yesterday. The move comes amidst a cross-asset recovery following heavy selling at the start of the week. Seismic moves in JPY had stolen the show at the start of the week, driving an outflow of capital from gold as traders rushed back into JPY for safety, buoyed by tighter BOJ policy. An accompanying shift in traders’ USD outlook has also played a factor this week. On the back of a heavy slowdown in US jobs growth last month, and the unemployment rate rising to a 3-year high, traders are now expecting a faster paced easing path from the Fed this ... (full story)
