Comex gold posted its third-highest daily close of all time today after the latest JOLTS jobs data showed a rapidly weakening US employment situation. We'll wait, of course, for Friday's BLSBS, too, however the idea of rate cuts as soon as June is now rapidly taking hold.
What a day. Comex Jun23 gold closed at $2038.20 and spot s near $2022. For the sake of comparison, the only two higher closes are:
- August 6, 2020: Dec20 gold $2069.40 with spot at $2063.
- March 8, 2022: Apr22 gold at 2043.30 with spot at $2050.
For today, please revisit...
