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Metals: ADP Private Jobs

When we take a look at the gold, you can see the gold market is up so far for the week, 2.97%. Right now, you're up $20 tonight. The market jumping one more time up here as you can see, you've got a pattern that's higher and lows, still very much in the bowl camp. You're over the key moving averages and you're probably now attacking the Bollinger Band. No, you're well over them (you're day 1, 2, 3). Now typically, the most you go is 5.

Can you go more? We'll look at a Cocoa chart and you can see that when you get some unusual event, but this isn't what I'd call at this point yet in an unusual event. It is a breakout of a market that was going sideways and gave you the pop for a number of reasons.  Number one to me: You're looking at other central banks that are getting very much ready to start cutting rates. Is it June? Is it going to be the end of the summer? We're all waiting to see but it appears to me that the race sticks to cut interest rates is in investor's minds...

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