Goldman Sachs says that the price of gold may reach $ 5,000 if Trump continues to interfere with the Federal Reserve Bank

It is clear that the White House wants its people on the Federal Open Markets Committee. Trump and his allies have requested criminal investigations into the President of the US Federal Reserve Jerome Powell (accused of misleading Congress) and Federal Reserve Governor Lisa Cook (accused of false demands on real estate mortgage documents). He tried to launch cooking. Powell publicly insulted and made it clear that he would replace him with a more political compatible person with his desire to drop interest rates.

With investors unable to rely on the independence of the Federal Reserve Bank, this changes the game for safe assets, Samantha has been told by Goldman this morning.

She wrote: “It is possible that the scenario in which the independence of the Federal Reserve has been affected to high inflation, high long rates (low bond prices), decrease in stock prices and erosion of the state of reserve currency in dollars. On the contrary, gold is a value of value that does not depend on institutional confidence.”

The “tail risk scenario” expected $ 4,500, but indicated that it would not require a very big shift in demanding gold for more than $ 5,000. She said that the ETF gold market is only 1 % of the market size for the cabinet. And the opposite is true, “We appreciate that if 1 % of the US Treasury Market owned a special ownership flows to gold, then the price of gold will rise to approximately $ 5,000/Toz, assuming everything else fixed. As a result, gold remains the highest recommendation to our support in the commodity area.”

At the same time, in the job market …

ADP will report special salary numbers today. This poll is only a segment of the labor market and is not considered a reliable evidence of the job economy as a whole, but it is expected to be a weak number in light of the Jolts number. “The job opportunities have decreased more than expected to 7.2 million,” said Francesco Besole of Engi. “Christopher Waller, the dissident of the federal reserve (and the president, said that the weekly reports received from ADP showed a constant deterioration. The consensus on slowing from 104 thousand to 68 thousand today.”

Non -agricultural salary statements– Large jobs number – Tomorrow.

Nutrition is skipped in: The CME Fedwatch provides a basic interest rate in September by approximately 98 % this morning. The only dispute between the Wall Street analysts is the number of cuts that the Federal Reserve Bank will offer and when.

“The head of the Federal Reserve at Atlanta Rafael Postic said on Wednesday that the high inflation is a greater risk to the double mandate of the Federal Reserve than the deteriorating labor market even with the slowdown of employment, and that the average capacity of 25 basis points this year will reflect in an appropriate manner that there is an increasing risk to waive the full camps.” Peter Chaverick of RBC said: “The phenomenon in the short term.”

in German bankJim Reed and his team indicated that the Federal Reserve Governor Christopher Waller “reiterated that the Federal Reserve Bank should reduce the next meeting and prefer multiple discounts during the next few months. In addition to the launch of Jolts, the labor market fears have received some support from the weakness or uncertainty in demanding seven of the twelve areas that are reports” companies that are frequented by workers to workers Use it due to uncertainty.

Here is a snapshot of markets worldwide this morning:

• S & P 500 futures contracts 0.22 % rose this morning. The index closed 0.51 % in the last trading session.
• Stoxx Europe 600 0.61 % increased in early trading.
• FTSE 100 in the United Kingdom It was 0.23 in early trading.
• Japan Nikki 225 It was 1.53 %.
• China CSI 300 It was a decrease of 2.12 %.
• South Korea Cuban It was 0.52 %.
• Elegant India 50 It was flat before the end of the session.
• Bitcoin He drowned to 110.7 thousand dollars.