Current Thoughts 2/2/2017

From the Trading Desk Ahead of yesterday’s FOMC decision, the precious metals were on the defensive after better-than-expected manufacturing and private sector employment data weighed on the complex.  The ADP jobs figure widely beat expectations, with an increase of 246,000 jobs versus the consensus of 165,000, and the USD rallied while gold slid lower.  Gold moved higher as the FOMC …

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Current Thoughts 1/26/2017

From the Trading Desk After failing at $1,220 on four separate days in the last week and a half, gold gave up on pushing higher and has now traded lower for three consecutive days.  Unsurprisingly, gold’s move south coincided with the USD gaining ground and with the Dow pressing above 20,000 for the first time ever.  The bevy of contentious …

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