This is your weekly reminder that the US labor market remains secularly tight.
Continuing claims ticked up, but still on the low end of the range of the last couple years. CC holding stable below 2mln. No signs here of recession.
It would certainly seem that there is room to go a lot higher. The price of an ounce of gold in dollars/S&P level is still only 0.435. It was 1.69 as recently as August 2011. With the S&P at 4,781, a comparable ratio would make the price of gold $8,079 per ounce.