Daily Close | Forex, Metals, Oil, Agriculture June 08, 2021

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Currencies

The dollar hardened slightly, putting pressure on the precious metal, while anxieties over inflation also weighed. It looks like the dollar’s endless decline is entering an acceleration phase. The Dollar was marginally higher.

Metals

Gold prices briefly topped $1,900 on Tuesday, before pulling back and snapping their three-day win streak. August-dated gold dropped $4.40, or 0.2%, to settle at $1,894.40 an ounce for the day. Arkadiusz is the author of the monthly Market Overview reports and Gold Monitor News at Sunshine Profits. The gold bugs might be ready to rally again. Gold and silver were off a bit.

Oil

Plus, looking ahead, analysts are expecting a third-straight weekly decline of 4.1 million barrels in crude inventories ahead of tomorrow’s EIA report. Oil prices rose to their highest level in over two years, rising above the $70 level for the first time since October 2018. July-dated crude added 82 cents, or 1.2%, to settle at $70.05 per barrel.

United States

It requires rules and risk management along with the ability to adapt to changing market conditions.” less Investing.com Follow Google parent Alphabet (NASDAQ:GOOGL) is a star performer this year. When Covid came into the equation last February and March, the Fed threw the kitchen sink at the matter, allaying inflation worries for another day. Legendary investor, economist, and money manager Mohamed El-Erian is horrified by the US central bank’s relentless “We know it’s transitory!” inflation narrative.
That means the Fed will just watch inflation surge and leave it to the government to solve the problem. Since then, it has remained weaker than during the Trump years, albeit it has also improved almost every month this year. Real estate inflation is a Fed creation that has made “debt for life” the hallmark of being a homeowner. It means that the April report wasn’t just an accident, and the US labor market has to face some serious problems.
The Nasdaq saw the most substantial wins, brushing off news that multiple global websites were experiencing outages earlier in the day. He believes that the Fed needs to act sooner rather than later to stop inflationary winds from becoming a hurricane. Research from our team of in-house analysts has been quoted by The Wall Street Journal, Bloomberg, MarketWatch, USA Today, Kitco, Reuters, US News & World Report, CNBC, and more. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post.
Google parent Alphabet (NASDAQ:GOOGL) is a star performer this year. Compared to the US$ value of exports sent abroad in May 2020, this was a 27.9% increase. Amazon, Microsoft, Facebook and Alphabet all make the list of Wall Street favorites with a potential increase in value. In my professional opinion, the Fed doesn’t need to do anything… because the Fed needs to be shut down. Private enterprise doesn’t need the “Financial Markets Welfare Office” that the Fed has become.
Vaccines + Massive Fed Support ($9T) + Gargantuan Fiscal Stimulus ($5T) should equal generational job growth. He is regularly cited in the Wall Street Journal, on CNBC and in the Financial Times. The Fed.Mother of bubbles.

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