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In thin holiday week trading, the precious metals including the non-monetary metals of platinum and palladium are tumbling down hard, copper having already done so from a non-frothy peak earlier this year. Platinum and copper are now back within their 2007 trading ranges. Re the key internationally-traded physical commodity, oil, the bellicose talk around [...] The fear brought about by today’s employment report is almost palpable. Reports express “surprise,” ”shock,” and “disappointment” at the news that employers only added a net 18,000 jobs in June, the slowest pace in nine months, and that the unemployment rate increased to 9.2%, the highest level since December 2010. This is not a surprise to [...] |
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