Global Market Commentary, Analysis and Investments
After Tuesday’s beat-down and Wednesday’s recovery, precious metals are holding steady. At last check, gold is at $1,598.
Of course, the short correction brought with it the usual cries of “bubble” in the gold market. Even here in our own household, we fielded questions on the subject…
[Read more...]Well… I have some thoughts on the price action yesterday, and then there’s news from China with their latest economic data, which should explain a lot of why the currencies have rallied back versus the dollar, and gold heads for its all-time record high… So, let’s get this letter out of the starters blocks!
[Read more...]There is beauty in life, and there is truth. The two are not mutually exclusive, necessarily, though a coincidence can be rare. Often times, the truth is not as attractive as we would like for it to be. And sometimes beauty is but a lie. But every once in a while, the two converge…and the result is rarely displeasing.
[Read more...]Well… Yesterday’s price action was something…really something… The currencies backed off their assault on the dollar for a day, but the slippage was minimal… The real rodeo for the prices was in gold and silver, with silver riding the bull till the horn sounded! As I mentioned yesterday, silver had traded to $49, which represented a $9 rally in less than two weeks. Well, it was as if silver stepped on the trap door and it sprung, with silver falling $3, then gaining it back, only to see it lose $2 on the day… Up, down, all around…
[Read more...]The stock market “rallied huge” yesterday…and it continues rallying today – lifting the Dow Jones Industrial Average to a new three-year high. But the shares of market leader, Goldman Sachs (NYSE:GS), haven’t been doing much of anything.
[Read more...]It looks as though the euro (EUR) is going to have to go through another stretch of beating, from which the single unit will have to tough it out, for sure! Euro weakness this morning, is being driven by a return of Greek debt concerns, and a vote in Finland over the weekend that saw a jump in support for “euro-skeptic” parties… I think this euro reaction has been nothing more than a knee-jerk reaction to what will not amount to a hill of beans in the long run… The Greek debt concern on the other hand, just keeps coming back like that guy Michael in the Halloween movies! Just as scary too!
[Read more...]Gold may well have set another record by the time you read this. The spot price as we write is $1,441 – just $3 off the high set earlier this month. Silver, at $36.81, could burst through $37 by day’s end.
“The precious metals are giving a clear message,” says GoldMoney’s James Turk, “namely, that the dollar is in trouble. Gold and silver are near their recent highs, and this shows both markets – the dollar and the metals – confirming the trend.”
[Read more...]Well… I love it when a plan comes together! I told you months ago, that the markets had given up on a rate hike from the Bank of Canada (BOC) at their 9/8 meeting… I took a different road, and said they would still hike rates… I was alone on this one folks, but… Guess what? The BOC hiked rates 25 BPS (1/4%) yesterday! I had thought they BOC would hike rates but attempt to water the hike down with dovish tones… Here's the BOC statement, you decide if they sound dovish or not…
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Gold Rallies to $1,800 Again!
At one point yesterday, it looked as though the dollar was about to get a root canal, as the euro (EUR) climbed back to 1.45, the Aussie dollar (AUD) $1.05 and so on… The currencies were rallying so much that gold climbed into the back seat and let the currencies drive for a while… But, this morning… Gold is back in the driver’s seat, with the currencies backing off their charge against the dollar.
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