While the gold and silver markets have managed to respect yesterday's spike low, classic fundamentals remain bearish with the best hope of bottoming action coming from significantly oversold technical conditions.

However, given the largest month-over-month jump in US job openings since July 2021, the trade is anticipating positive US jobs sector news again today which in turn is expected to produce even higher US treasury yields and even higher US dollar exchange rates.

In fact, Fed dialogue regarding the potential for sharp gains in long-term interest rates suggests the Fed sees ongoing normalization of the yield curve as a sign their tightening policies are working...[MORE]

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