Weekly Gold Update – Gold In Dollars Lower Despite Poor US Jobs and Other Data
Weekly Gold Update by Daniel March for GoldCore (May 6, 2018) • US dollar strength amid weakening fundamentals and poor US jobs data Friday • Gold buyers in other currencies see gains – gold in EUR and GBP rises 0.7% & 0.9% • YTD performance table suggests stagflation coming as Fed eyes inflation, lower growth • Seasonal effect – gold to bottom this summer? (see charts) • Silver is nearly 70% below it's 1980 high and technically looks very good (see charts) • Speculators cut long positions, GLD holds strong • Boost for rural India – demand to benefit in Q2 • [...]