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Gold: Rallies After Weak US data
Gold markets have rallied a bit during the trading session on Tuesday, as we have broken above the $1930 level. After all, when you look at the US economic numbers during the day, it suggests that perhaps traders are thinking that the Federal Reserve will have to loosen monetary policy. The JOLTS Jobs Openings number came out at 1 million less than anticipated, and then of course the Consumer Confidence numbers came out 10 points underwear they had anticipated seeing it. This suggests that perhaps the US consumer will stop spending so much, and that could in theory bring down the inflationary pressure in the United ... (full story)