Gold appears to be setting up for a push higher, perhaps a sustainable push as we enter 2020.
We have jobs! So the unemployment data came out and turns out that US unemployment has dropped to a half-century low in September. On the one hand, investors are worried about the broader macroeconomic slowdown, and on the other, you have the strongest job market in the United States’ recent 50-year history. 136,000 new jobs were added, but I assume some will be lost in the next few months as The We Company cuts jobs and the billion-dollar loss-making companies go bankrupt. Despite poor manufacturing data, investors think job growth has cushioned the economy against rising uncertainty, trade tensions, and the changing geopolitical order.