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Stagflationary signs and the precious metals sector
Both employment and inflation numbers were worse than expected. Stagflation approaches. Or is it already here? With 263k of initial jobless claims (the highest number in two years!) and MoM CPI at 0.4% instead of the expected 0.3%, the market doesn’t know what to focus on. The USD Index is moving back and forth today, and other markets seem to be simply perplexed. Gold Shines in Stagflation—But Not Always: Stagflation is generally positive for gold – that’s what we had during the great bull market of the 1970s. BUT, it’s also true that gold declined profoundly in the middle of that bull market – in 1976. ... (full story)
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