Gold's Double Edged Rally The recent break above a multi week congestion pattern in gold has sent a ripple through markets, sparking debate about whether this is the start of a larger recovery or just a temporary reprieve from an established downtrend.
The latest employment report, which showed weaker than expected hiring, has undoubtedly played a role in gold's ascent, as investors seek safe haven assets to shield themselves from potential economic turbulence.
The reduced market expectations for a Federal Reserve rate hike in September have given the yellow metal a boost, particularly with this week's CPI and PPI reports on the horizon.