Central Banks & The Week in Gold

by Gerardo Del Real
Outsider Club

What central banks giveth, central banks taketh away. Gold enjoyed the best first half in nearly four decades this week before Friday’s unexpectedly strong U.S. jobs report which trimmed nearly 2% off the gold price and over 3% off the silver price.

The U.S. created 255,0000 new jobs in July, outpacing expectations of 185,000, and marking the second-straight healthy jobs figure in a row.

The prospect of the Fed possibly raising rates in September, or signaling a willingness to do so in December, was enough to send money out of gold, silver, copper, platinum, palladium, and oil.

The dollar meanwhile was up 0.5%.

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