Gold Heading Down Again, Stock Rapidly Turning Soft

Yesterday not even gold could escape the flight to safety trade, as investors strictly pursued liquid, green-coloured US dollars to anything asset.

The selling continues today, with gold struggling to stay above $1165/oz.

chart

Photo: KITCO

Meanwhile, futures are looking soft. Earlier in the day they were looking solidly higher, but that’s been erased. The S&P remains slightly above fair value. The Dow and the NASDAQ do not. Still we’ve got plenty let to go before the opening bell, including the ADP report at 8:15.

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