Stocks and Precious Metals Charts - Paper Chase - Jobs Number: Desperately Seeking Goldilocks

By Jesse of Jesse's Cafe Americain

Jul 7, 2022 at 5:07 PM EDT

Stocks managed to stage a relief rally and hold the gains into the close. The Dollar chopped sideways around the high 106 handle.

Stocks managed to stage a relief rally and hold the gains into the close.

The Dollar chopped sideways around the high 106 handle.

Gold and silver managed a bounce off the deep low of yesterday.

Non-Farm Payrolls tomorrow morning can move the markets based on perceptions of the performance of the economy and its effect on the Fed's decisions.

As we can see from the Comptroller of the Currency chart below, derivative bets on precious metals held by US banks exploded in notional value.

What could go wrong?

Have a pleasant evening.

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More By This Author:

Stocks And Precious Metals Charts - Stocks Come Back
Stocks and Precious Metals Charts - Europe Agonistes
Stocks and Precious Metals Charts - Churn and Burn Friday - Non-Farm Payrolls Next Week

Disclaimer:

These are personal observations about the economy and the markets. In providing information, I hope this allows you to make your own decisions in an informed manner, even if it is from learning by my mistakes, which are many. As a standing policy, I never provide individual investment advice to anyone. I will only occasionally disclose my personal positions for the purposes of illustration. Understand that my own circumstances could differ greatly from your own, and therefore what is suitable for me may not be suitable for you. My comments are intended to be reflections on general macro financial and economic events and trends.

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