June 3, 2020

Gold dipped below $1,700 today for the first time in three weeks as growing economic optimism caused by states reopening and better than expected ADP employment data are causing equities to surge.  ADP employment showed a drop of 2.76 million jobs in May, while a decrease of 9 million was expected.  Friday’s employment report will give better insight into the pandemic’s effect on jobs in May. The better than expected data sent stocks booming, hopefully signaling the worst is behind us.  The Dow is up nearly 500 points going into the final hour of trading.