Recap: Gold Closes up $171; Up Another $20 Today

This is a free preview of a paid episode. To hear more, visit vblgoldfix.substack.comHousekeeping: Good MorningFeatured Analysis: In Other News: Data on Deck: UnemploymentMONDAY, AUGUST 3* 9:45a Final Manufacturing PMI (prev 53.8 → est 53.8)* 10a ISM Manufacturing PMI (prev 53.3 → est 54.0)* 10a ISM Manufacturing Prices (prev 73.0 → est 70.0)* 10a Construction Spending m/m (prev 0.1% → est 0.2%)* 10:15a Omdia Total Vehicle Sales (prev 16.5M → est 16.3M)* 2p Loan Officer SurveyTUESDAY, AUGUST 4* 10a JOLTS Job Openings (prev 7.59M → est 7.44M)* 10a Factory Orders m/m (prev -1.3% → est 0.2%)* 10:13a RCM/TIPP Economic Optimism (prev 45.5 → est 47.5)* 8:15p FOMC Member Schmid SpeaksWEDNESDAY, AUGUST 5* 8:15a ADP Non-Farm Employment Change (prev 98K → est 68K)* 9:45a Final Services PMI (prev 53.6 → est 53.6)* 10a ISM Services PMI (prev 54.0 → est 54.5)* 4:05p FOMC Member Cook Speaks* 4:30p President Trump Speaks* 8:35p FOMC Member Daly SpeaksTHURSDAY, AUGUST 6* 5:30a Challenger Job Cuts y/y (prev -4.5%)* 8:30a Unemployment Claims (prev 197K → est 203K)* 8:30a Prelim Nonfarm Productivity q/q (prev 0.8% → est 0.6%)* 8:30a Prelim Unit Labor Costs q/q (prev 2.3% → est 2.2%)* 5:30p FOMC Member Musalem SpeaksFRIDAY, AUGUST 7* 8:30a Average Hourly Earnings m/m (prev 0.3% → est 0.3%)* 8:30a Non-Farm Employment Change (prev 57K → est 85K)* 8:30a Unemployment Rate (prev 4.2% → est 4.2%)* 10a FOMC Member Barkin Speaks* 3p Consumer Credit m/m (prev -0.2B → est 11.4B)***Please support Independent Media Buy a hat, mug, or hoodie today*** or Buy a Coffee for the GoldFix internRECAPYesterday was one of those fascinating sessions where almost nothing happened on the surface, yet gold delivered one of its biggest rallies in years. Stocks finished slightly lower, the dollar slipped marginally, bonds were basically unchanged, and there wasn’t a major news event to explain it. Gold, however, surged $171, or 4.2%, to around $4,248, while silver gained $2.53, also about 4.3%, to nearly $62. What’s remarkable is that gold and silver rose by almost identical percentages. Usually, silver dramatically outperforms during rallies like this, so that stood out.