Gold Prices Rejected At July Highs After Stellar NFP

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Commodities often play an opposite role to the US Dollar, give that is the base currency from which they’re priced. An oversimplified example is when Gold high $1,920/oz in September 2011 and Oil was ~$114/bbl was near the US Dollar’s nadir. Friday’s Non-Farm Payroll Print +255k, which exceeded all forecasts by Bloomberg economists. Now, we will look to next week to see if commodity weakness is beginning again, or if the first week of August was a simple one-step back after two steps forward over the past few months. Where are gold and crude oil prices heading in the second quarter? See our forecasts here! As of mid-day ... (Read the full story)