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Craig Hemke at Sprott Money: Breakouts for gold and silver are coming this year and may have already started
By Craig Hemke
Sprott Money, Toronto
Tuesday, April 4, 2023
The final leg of the Fed's stool was kicked out from under them Tuesday morning when the latest JOLTS job openings report showed a dramatic slowdown in the U.S. labor market. It's now not a question of "if" the Fed will cut rates, it's a matter of "when".
How many times have you heard Fed chairman Jerry Powell describe the U.S. labor market as "robust" or "firm"? Just go back to his latest, post-FOMC press conference, and you'll find several mentions of this alleged signal of economic strength.
However, employment is always a lagging indicator and often the final economic datapoint to collapse prior to the start of a recession. Will Tuesday's JOLTS data finally make it clear for all to see that the U.S. economy is in contraction?
... For the remainder of the analysis:
https://www.sprottmoney.com/blog/Gold-Jolted-Higher-April-4-2023
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