All metal future prices up a lot overnight - gold up 3,36%,...

All metal future prices up a lot overnight - gold up 3,36%, copper 8%, silver 7.64%, etc,

Was Fridays action in the US on Friday an indication of what will happen to POG when the Fed reduces the size of its rate increases then stops them?

Bond yields were down but not materially so but the US dollar index was down 1.9% and all metal futures were up a lot.

This is what CNBC reported;

“Gold prices surged 3% on Friday as the dollar fell after data showing an uptick in the U.S. unemployment rate in October raised optimism the Federal Reserve w
ould be less aggressive on rate hikes going forward.”

In my view the Fed will pause to assess the impact on inflation (when I don’ t know but probably after March 2023) and POG will probably rise a lot with US dollar much lower.

However, given how much the money supply increase from Feb 20 to Jan 22 by about 37% (unbelievable) way above any past trends, and has fallen by only about 1.5% to end of October, I anticipate the Fed will be back increasing rates again after a pause as there is just so much money still in Consumers pockets to keep buying goods and services pushing inflation. I will publish a chart to illustrate my views.