The price of yellow metal broke over $2,000 on Tuesday, reaching its new one-year high following the release of data on the United States’ labor market, which showed a large drop in the country’s job openings. The lower-than-expected job openings figure in February could indicate that the United States labor market might be slowly cooling off following Federal Reserve’s aggressive monetary tightening to tame the raging inflation in the country. The traders will now shift their focus to nonfarm payrolls, slated for release later this week. Gold jumped 1.62% to go for $2,016.40 per ounce at 10:16 am ET, hitting its highest level since March last year. Silver surged 2.73%, selling at $24.64 per ounce at the same time. Platinum gained 1.84% to $1,011.91 per ounce and palladium rose 0.86% to go for $1,464.13 per ounce. NN: Gold is screaming out sell me. We are at the ending stage of inflation because the FED knows it has got to raise rates to kill inflation. the gold rally is ending its peeking….. FED FUNDS will be north of 6%. We are within 200 bases points of fed funds peeking….. its closer to the end of the inflation cycle. IF you trade as you should you need to look over the horizion. And it tells me soon its time to lock in higher rates, sell stocks and prepare for the coming real estate and stock market crash. And yes oil will peek between 100 to 150 a barrel.
so we want to:
be long oil
short gold
short stocks
short real estate
and get ready to lock in long rates on treasuries