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Bitcoin’s Rebound is Over – Will it Take Gold Lower?
In short, this might really be the case. But since we just saw a rally in the price of gold, let me start by commenting on that. The gold price tends to be volatile before important statistics are released, and today is one of those days. Today, we have ADP nonfarm employment statistics (the leading indicator for nonfarm payrolls) and, 15 minutes later, the initial jobless claims. Then, 1.5 hours after the opening bell, we’ll get the Fed monetary policy report. As investors sometimes try to guess what the report is going to be and then attribute certain meaning to this expected outcome, gold moves up and down. It ... (full story)
