June 05, 2020

Gold is trading at $1,677, its lowest level in six weeks after unemployment data released today was surprisingly good, attracting investors away from save haven assets and back to equities.  In May, 2.5 million jobs were added, and unemployment dropped to 13.3% (-7.25 million and 19% expected). Stocks are surging on the news with the Dow up nearly 1,000 points, breaking 27,000 for the first time since early March.  The Nasdaq and S&P 500 are up 2.3% and 3.0% respectively.