The USA non-farm payrolls and unemployment rate are due out later today ie Friday their time. If they disappoint from the expectation of little or no change from the previous months figures, then we may see further falls in the stock market and bond yields. If that happens will the POG head closer to $2,500 spot?
Personally if the numbers disappoint then we are more likely to see a much more significant fall in the stock market and see September rate cuts and a higher POG BUT gold equities may still fall further but will probably pick up a lot more in the short term. That is gold stocks may be good buying over the next few weeks.
Gold and macro environment, page-80
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