Well, actually you can argue with facts, but in the case of economic data, they'll only call you a crazy fool.
Data released yesterday, and thoroughly discussed in our email, pointed toward a slightly more positive U.S. recovery, with one very important rider. The Fed said that the March stats were better than expected and thus had a very optimistic outlook about the rest of this year. (January and February were abysmal, mostly due to bad weather.) Also ADP said job growth was significant in March and it is anticipated that the Labor Department's report will echo that when released on... Read more
If we believe the Commerce Department, the U.S. economy stalled in the first quarter of this year, scantly growing by 0.1%. Maybe it will be revised upward to a more robust 0.2%? You get the picture.
Yet today, ADP, a private company that reports on private sector employment said that in April, 220,000 new jobs were added. Even more contradictorily, ADP revised its totals for March up to 209,000, an enhancement of about 17,000 extra hires.
Tomorrow's Labor Department report is expected to show around 210,000 new jobs. ADP and the Labor Department use different methodologies to compile... Read more
Equipoise is one of those $2 words that's really simple and elegant.
And it reflects exactly where we are today in the gold market fundamentally. Forces are almost perfectly balanced, watchers are watching. Like the moment when a trapeze artist seems to attain weightlessness and we are all breathless.
Today and tomorrow, we have on the docket the meeting of the Federal Open Market Committee (FOMC), which is widely expected to stay on the same path it has been on. However, it is also thought that it may very well offer a more optimistic assessment of the U.S. economy on Wednesday when... Read more
Bigger-than-expected gains in existing home sales helped push gold down today.
A report from the NAR (National Association of Realtors) showed contracts for the purchase of existing homes increased 3.4% in March, topping estimates that foresaw a stagnant to slightly up market.
Before the report sank in, gold had reached a one-week high as escalating tensions in Ukraine spurred haven buying.
The Ukraine is simmering, without a doubt. Today a moderate, middle-way mayor was shot and almost killed in an eastern city.
The West also imposed a second round of sanctions on... Read more