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Bullion’s Wall Street Boom: Technicals Suggest All-Time Highs Might Be Hit Soon

Gold is having another strong week of gains, breaching the important psychological barrier of $2,000/oz and now nearing its August 2020 record high of $2,075/oz.  The SPDR Gold Trust ETF (ARCA: GLD) is barely 3% away from its all-time high of $195.  A series of bullish catalysts has fueled the precious metal's recent climb. 

GLD

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Recession Playbook In Action: Cooling Labor Market Triggers Rally In Treasuries, Gold; Stocks Decline

Recent economic data has prompted investors to hedge against the rising likelihood of a recession.  In February 2023, there were 9.9 million job openings, which was the lowest level since May 2021 and below market estimates of 10.4 million, suggesting that the labor market may have begun to weaken. 

$XLM

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Five Economists React to Core PCE Numbers: What Will The Fed Do Next?

Core PCE inflation, the Federal Reserve's preferred gauge of inflation, rose by 4.6% year on year in February 2023, the lowest rate in 15 months and below market expectations of a rise 4.7%. Core PCE prices rose by 0.3% month over month, following a 0.5% surge in January and falling short of market expectations of 0.4%.

TLT