FEB14 gold’s rally yesterday was extremely short-lived, as it is right back down to $1,219 this morning, down $28! We would not be surprised, as we have been saying, to see gold break below $1,200.
U.S. stocks declined a fifth day after improving economic data boosted bets the Federal Reserve will curb its monthly bond purchases sooner than estimated.
Tomorrow morning markets will react to the release of the November unemployment number. This release will be watched very closely as market participants look for clues for when the Fed might taper its $85 billion a month bond buying program.
The Canadian dollar appreciated for the first time in five days, rising from a more than three-year low, amid speculation employment growth may suggest stronger economic improvement than the Bank of Canada indicated.