Strong Jobs Report Abates Fears of Recession

Last week, the jobs report was released. Economists were expecting an additional 258,000 new jobs added last month. The Labor Department’s report revealed that the U.S. economy has had robust job growth last month adding over 500,000 jobs in July.

The exceedingly strong numbers of the report diminished concerns about the United States entering a recession. While this optimistic report bodes well for economic growth, it certainly does not address inflation.

However, it does change market sentiment which had been intensely focused on the last two GDP reports. On July 28 the government released the advance estimate of the second quarter GDP. The report revealed that the GDP had decreased at an annual rate of 0.9% during the second quarter of 2022.

Earlier this year the BEA reported a decrease in the first quarter GDP of 1.6%. The widely accepted definition of a recession is an economic contraction over two consecutive quarters. Continue reading "Strong Jobs Report Abates Fears of Recession"

Will Gold Fall Further?

By: Street Authority

Imagine a bullet fired at the sky.

It climbs higher and higher until gravity overcomes its upward momentum. The bullet begins to fall.

Now, imagine small wings on the bullet that flap while it is falling. The wings are just enough to create a series of slight upswings while on the downward trajectory.

Known as "bear flags," this wavelike cycle recurs until the momentum ends and the bullet drops to the ground. Bear flags are thought to signal additional downward moves to come.

This is exactly what has happened with the price of gold since it hit its high near $1,900 per ounce in August 2011. More recently, this action has been exaggerated, with gold trending downward since striking highs in the $1,800 range back in October. Continue reading "Will Gold Fall Further?"

Here's The Gold ALERT I Received In My Email From MarketClub Today

MarketClub Smart Scan Alert for XAUUSDO Price Breakout Above
Gold Spot (FOREX_XAUUSDO) has broken above your preset level of 932.00 and is now trading at 940.22 +28.64 (+3.14%)

XAUUSDO Streaming Chart
http://club.ino.com/members/charts/?s=FOREX_XAUUSDO
XAUUSDO Chart Analysis Details
http://club.ino.com/members/scan/analysis/?s=FOREX_XAUUSDO

Gold Spot (FOREX_XAUUSDO)

Last        940.22    Net Change +28.64 (+3.14%)   Score +100

Open        911.58
Day High    946.60
Day Low     910.30
Prev Close  911.58

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http://club.ino.com/members/scan/alerts/?snoozeid=16108

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