$GLD and $SLV Prices as of December 9 2019 @moneymetals
8:59 AM
December 9, 2019 – Gold and silver prices fell sharply on Friday. The move downward followed the release of a strong jobs report. Stock prices rallied along with the dollar and bond yields. It was a bad combination for metals prices, and down they went.
The jobs report raised a few questions, but the algorithms weren’t asking them.
The data included 54,000 additional manufacturing jobs. The bulk of these can be explained by 41,000 striking General Motors employees returning to work.
The reality is that manufacturing is slumping. Last Monday’s ISM report was dismal.
The FOMC will hold its final meeting of the year this week. The announcement on policy is due out Wednesday and the overwhelming consensus is for no rate changes.
Check out live precious metals prices here:
https://goo.gl/gy5XMA
The jobs report raised a few questions, but the algorithms weren’t asking them.
The data included 54,000 additional manufacturing jobs. The bulk of these can be explained by 41,000 striking General Motors employees returning to work.
The reality is that manufacturing is slumping. Last Monday’s ISM report was dismal.
The FOMC will hold its final meeting of the year this week. The announcement on policy is due out Wednesday and the overwhelming consensus is for no rate changes.
Check out live precious metals prices here:
https://goo.gl/gy5XMA
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