Job openings slump, gold consolidates

Estimates on job openings in the US failed to impress this month, with a total drop MoM from 8.2Million to 7.6Million (realised). With many CEO’s and business leaders citing a new term ‘attrition to AI’ perhaps we are starting to see the future many predicted where AI looks to replace our jobs. While most commentary around attrition to AI revolves around the tech industry itself, there is a certain logic to the process. Many large companies have a staff attrition rate every year. Larger tech companies are not hiring to replace, but training retained staff to use AI agents to complete the work a human would have otherwise done. If these tech companies have an existing attrition rate of 10%, we’d assume that 10% of their workflow would move to AI based agents, every year. 

And Trumps tariffs continue to dominate headlines over the past week. While the long term logic around placing tariffs is obvious, the short term affects on currencies and pricing is devastating. Yes - encouraging local manufacturing in the US can only be a good thing for local economies; however for tariff-hit countries devastated by currency devaluation the coming year doesn’t look great at all.

And Gold has maintained its all time high while consolidating briefly. With its RSI sitting around 73 we’d expect a little pullback in pricing over the next week before Gold considers its next move.

Enjoy today’s forecasts.

Gold daily chart, with 200MDA

Silver daily chart, with 200MDA

US500, with 200MDA

ASX200, with 200MDA

Gold Futures Technical Analysis

Gold Futures monthly analysis continues to recommend a STRONG BUY with Weekly analysis a STRONG BUY signal.

Technical indicators - Monthly Projections

 Summary for Monthly forecast: Strong Buy

*Not financial advice, please DYOR prior to any investment decisions you make.