re: us construction data - devil in the detail What is interesting about this data is that it would appear that the burden of economic recovery is STZILL falling on 2 of 3 of the participants that can least afford it - the consumer and the government.
Business (commercial and factories) are still not, in respect of these figures, shouldering the economic recovery with capital expenditure.
Consequently, gold will continue to rally as concerns over the trade and current account deficits together with sustainability of the over-spent consumer continue to cause concern.
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