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Strong US January jobs data, with wages up 2.9% year-on-year, fed expectations of higher inflation and more rate hikes. Equity markets then sold off sharply while gold held relatively steady.
Rising inflation and rate expectations are a macro backdrop that pressures precious metals more than feed commodities.
think.ing.comFeb 7, 2018After 4,478 past macro events, US Dollar (Broad) moved a median +0.0% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
