…gold bears are scared to go home short for the weekend. They are especially nervous when the Dollar can’t rally despite better macro and global tensions.
Gold continues to see pressure from the US economy as the spring thaw is yielding strong macro from the formerly frozen US economy.
On March 13th we pitched the trade to buy copper miners on the drastic pullback in spot copper prices.
A recent leading economic indicator, published by Torcuato Di Tella University, put odds of a recession in the Argentine economy at 95% for a second consecutive month. Over the last 18 years, the indicator has forecasted recessions 4.3 months in advance and growth periods 2.7 months in advance.