May 08, 2020

Gold is down $13.20, trading at $1,708.60 as stocks surge in spite of the worst employment data on record.  The Dow is currently up 330 points and the S&P and Nasdaq are each up about 1.3%.  Unemployment soared to 14.7% and 20.5 million people lost their jobs in April.  Optimism on states opening and a collective sentiment among investors that things will quickly improve in the coming months are putting pressure on haven assets like metals.  Despite this, gold and silver are poised to end the week up about 0.5% and 3.5% respectively.