⛏ Gold falls as robust U.S. jobs data cements bets on higher rates

Gold falls as robust U.S. jobs data cements bets on higher rates
Gold fell on Friday after a stronger-than-expected U.S. jobs report reinforced ​expectations that the Federal Reserve ​will keep interest rates ​higher for longer amid inflation concerns fuelled by the war in the Middle East. Read on »

Europe Just Bragged About Losing to Gold
When the euro launched on January 1, 1999, it was sold as the future. It would be a single currency to knit Europe together — to wipe out the exchange-rate friction between member states, complete the continent’s single market, and bind a dozen squabbling nations into one economic bloc with one money. And in the grander ambitions of its architects, it was meant to do something more: to grow up into a true global currency, the first serious rival the US dollar had faced since World War II. Read on »

Watch the Cement Trucks, Not the Missiles
When a war winds down, you sell the war trade. Crude just had its worst month in a year, and a deal to reopen the Strait of Hormuz is all but done. Every reflex you’ve got says lighten up on energy. Cheniere went the other way. On May 28, the same week oil fell apart, it handed Bechtel $4.69 billion to build more export capacity. Gas that won’t reach a single buyer until the back half of the decade. Energy companies don’t write a $4.69 billion check on a guess about next quarter. It’s what a company that lives and dies on this trade believes about the next ten years… Signed into a falling market by people who read it better than anyone on the tape. Read on »