Employers added 528,000 jobs in July, as the hot labor market powers on

[BumRushDaShow]

37. The other indicator that is "different"

and this is a major one - the dollar, which is not suddenly "worthless". I.e.,

August 3, 2022
8:17 AM EDT
Last Updated 2 days ago

Gold expected to be contained by interest rates and strong dollar


By Ashitha Shivaprasad and Peter Hobson


Aug 3 (Reuters) - Gold will average $1,745 an ounce in 2023, slightly below current prices, as high interest rates and a strong dollar reduce its appeal, a Reuters poll showed on Wednesday.

The gold price has fallen to about $1,770 an ounce from a high of $2,069.89 in March as the U.S. Federal Reserve and other central banks increased interest rates rapidly in an effort to tame inflation. read more

The higher rates have turned real yields on U.S. 10-year treasuries positive in April for the first time in two years, making non-yielding gold less attractive.

They have also boosted the U.S. dollar to 20-year highs, making dollar-priced gold more expensive for buyers with other currencies. The stronger dollar also attracts money from investors seeking a safe store of value, who might otherwise invest in gold.

(snip)

https://www.reuters.com/markets/commodities/gold-expected-be-contained-by-interest-rates-strong-dollar-2022-08-03/