View Full Version : Gold Is FED Up

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09-04-2015, 06:11 PM
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Gold Is FED Up (http://info.kitco.com/gold-is-fed-up)

The biggest news on the commodities front this week might be the impending egg shortage crisis. That’s right folks, McDonald’s plans to sell all-day breakfast sandwiches (rejoice!)…While the news has delighted many customers, the move might lead to a serious egg shortage in America, with egg prices expected to rise. That’s no yolk.

And now back to our regularly scheduled program…

Gold was heading into the long weekend under pressure, following a U.S. employment report that was weaker-than-expected on the headline number. If you missed it, the non-farm payrolls number for August was up 173,000 -- 220,000 was the consensus forecast. Our technical analyst, Jim Wykcoff said this morning that, “all in all, the jobs report appears to tilt slightly in favor of the monetary policy hawks and suggests a Federal Reserve interest rate hike remains on the table for this year.” This, as he notes, is bearish for the precious metals markets.

As of newsletter time, spot gold on Kitco.com (http://info.kitco.com/e1t/c/*W3qTCQb1qV1HtW386vc93_nnCr0/*W3j56X24dR6YvW9g3Xxv1KYWdg0/5/f18dQhb0S5fn8XJ8hgW84Rxhh2qwv1yN2shlFLJwFgtMf5qvWX D6prW39Dr-N8pCDM_W5C9kk74vgKM1W90G7th8S3yR5VbY02S4s8cQ2W8dVd Vl5rC4BgW70v_5j5LrK1dW7Mz3zC5GCC_nW5ZpycS57-ZBTW83C5JP37RjRHW5V3Sv-80MMfGW5DFWr25mKjF6W3m2rGX2x-ccwW7d094f6G7FblW4DFfS36Q8T89W734-Sr3JLgGRV2cph0368tzqW36FW_874l9BwW6nWT225jgrLCW2T3 LmQ2TrQpLW8SlZS42pvGHDW24MKgb6bD7N7W2pdgfw7ZJb0TW5 0yrLj6PLBCFVPX-3w3LD2bSW7xC1FD9hR8HXW8w-XYY1VtdWZN4BZXHMVR6H2N4q1tJT8t987W2MDb8S6wfFRqVFht Q-8j1V_qW6yY8Kw1YMHG5W4m9SyF8GBb4rW7gg7d11YKBynW6Hl1 mm6bYwkhW2ZkDpK8d2skGf1WCRGg04) was trading at $1,121.40 an ounce, down $3.60 on the day.

But it’s not all gloom and doom for the metal; the sell-off in the U.S. stock market, the long holiday weekend, and uncertainty about China's stock market are worrisome elements for the marketplace, which is likely to help gold next week.

For the full report, and many more exciting and relevant news stories,

Read the Full Kitco Newsletter (http://info.kitco.com/gold-is-fed-up)

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