June 04, 2021

Gold recovered from yesterday’s closing at $1,873.30 (a 3-week low) to finish for the day up $20.80 at $1,894.10 (+1.1%).

Today, weaker than expected U.S. job’s report for the month of May promoted the prospect of no near term raising of interest rates by the Federal Reserve resulting in a weakening of the US Dollar.  With inflation pressures surfacing across many consumer goods categories, and relative strength in other currencies, gold found new momentum heading into next week.