Iraq's central bank has been steadily buying gold as part of its strategy to diversify its foreign assets but recently added 2% to its gold reserves in a single day.
The U.S. Treasury has to do a lot of funding! needs to sell $1 Trillion by the end of the year to refund the treasury, that is going to be a headwind if the money comes from bank deposits.
The debt ceiling finally passed (as expected) but then next comes the fallout. It's just a suspension then in a year and half they get to do it all over again.
The bottom line is gold’s hawkish-Fedspeak-driven May pullback has likely mostly run its course. Top Fed officials have been talking tough on future rate hikes, but now they have to..
A super dove at the Fed speaks yesterday but ADP was super strong. The jobs report out this morning will be a market mover. How strong of a number will it be? Gold had a bounce..
