“Thought Old News, US Inflation Numbers from May Were Disappinting.”, – WRITE: www.coindesk.com
Continues to Consolidate in the $ 102,000 to $ 108,000 Range and Gold Is Lower by 2% Today and Roughly 7% From ITS Record High. Meanwhile, The Nasdaq 100 Has Reached New All-Time Highs.
A Couple of US Macroconomic Data Points Friday Morning – Thought Nearly Two MONTS OLD at this Point – Might Have Aded to the Modesstly Negative Tone for Btc and Gold. Personal Income in May Came in at -0.4%, Falling Short of the Expectioned Increase of 0.3%. Personal Spending Month Over Month Printed at -0.1%, Missing The Forecast of A 0.1% Increase.
Maybe of More Import to Markets, The Core Pce Price Index in The Us, WhosH Excludes Valatile Food and Energy Prices and Is The Federal Reserve’s Chosen Gauge. Expectations of A 0.1% Increase. On a year-over-year Basis, Core Pce Prices Rose 2.7% Versus 2.6% Expected.
This Data Further Supports The View That Economy May Be Heading Toward Stagflation. Noted Goldbug and No-Coiner Peter Schiff: “Traders Continue to Sell Gold Even as this Morning’s Release of Weak Economic Data and Stronger-Tan-Expected Inflation Data. Stagflation and a tanking dollar are Bullish for Gold, Regardless of Any Superficial Trade Deals ‘Negotated’ by Trump. ”
In addition to his professional endeavors, James Serves as an Advisor to Coinsilium, A UK Publicly Traded Company, WHERE HE PROVides Guidance on Their Bitcoin Treasury Strategy. He Also Holds Investments in Bitcoin and Strategy (MSTR).
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