US Economy near/ in Contaction The FED is supposed to hike 50 BP on Wednesday , hence the overhang on gold and commodity prices.
EU is already in defined recession, and imo that the US is already functionally in or this quarter, will meet the definition of a quarter...two successive quarters when the economy contracts.
Today , employment saw one of the most marked drops recently , with the ISM manufacturing employment subindex declining to 50.9 in April from 56.3 in March.
Thats a substantial drop which is not unexpected , as inflation ..and it is the highest in 40 years..erodes disposable incomes which means reduced consumer spending.
So, it won't take too long until the FED has to cease QT and begin QE to infinity.
Along with this is the accelerating move away from the petrodollar which inevitably will weaken the USD.
Gold has been an alternative or primary source of weath/ currency for over 5 centuries or more at a time when fiat currency have come and gone.
At some point, it's manipulation by Imperial London will cease .
So ignore these artificial whipsaws in the POG