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Gold jumps to a new record high
A short while ago fresh buying through $2,350 saw gold lift to set a new record high at $2.356.93, just surpassing the previous record by around $3. There appears to be no fresh news based catalyst for the move and it could be just technical on the break above the previous record. The fact that Gold is rising again even as the USD/JPY remains elevated close to the 152 handle is further evidence of the significant unwind in the hitherto long standing Yen/Gold dynamic. There is no material change in US treasury yields right now either, not that it has made much difference lately anyway. Gold is just now trading at $2,353.30
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Dissecting the US data as US stock futures fall- check out the Nasdaq 100 futures right now
Following on from the previous update, noting the fall in US Q1 flash GDP at the same time as prices have risen, here is some more colour and opinion...
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US flash Q1 GDP falls and core PCE prices rise more than forecast- USD/JPY rises and falls
The very important US Q1 GDP estimate and core PCE price index have just been released. The flash estimate for Q1 GDP has shown a fall of 0.3% . That...
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US April ADP report misses estimates rising by only 62k- S+P 500 futures slip
The April US ADP private payroll report has just been released. As noted here earlier, the markets were looking for a lower number this month around...
