Bearish Gold Reaction To The Jobs Report

George Milling-Stanley joins Ben to discuss the recent weakness in gold despite high inflation and a jobs report that proved better than consensus estimates. He is a bit troubled by the daily new highs in equities on the back of a potential taper tantrum. More physical gold demand is probably a couple more months off considering economic data which appears better than reality due to low base effect comparisons. With earnings not following price inflation, there is a higher likelihood of transitory inflation which fits the FOMC narrative.