Global Market Commentary, Analysis and Investments
So far, 2013 isn’t proving much fun, despite fresh eurozone crisis, plus ongoing attacks on the value of currency by central banks everywhere.
How come? Money managers have clearly grown tired of the financial crisis, if not blase. After a full decade of year-on-year gains, gold’s drop is a natural outcome, and by no means does this fall undermine gold’s safe haven appeal. It may well, however, be costing you money you’d really rather not lose.
[Read more...]Yesterday morning I told you that the currencies, for the most part, were flat… That didn’t last too much longer… The US printed what the media and markets thought was a fabulous New Home Sales report, and the rally in risk assets was “onâ€�! With stocks and currencies in rally mode, gold and silver backed off… I’ll talk about that trading theme we’ve seen lately in a minute, but first… Let’s talk about the housing data…
[Read more...]The hits just keep coming for the euro (EUR)… As often as the Beatles put them out from 1963 to 1970, or Elton John put them out in the ’70s…
Well… It’s the same for the euro… Just when it looked as though the euro might survive a day without being taken to the woodshed… The Eurozone officials just couldn’t stand the prosperity! (And I use that word loosely!) German Chancellor Angela Merkel made some proposals to gain control over “destructive” financial markets… Her first move was to place a ban on naked short-selling.
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Defying Gold’s Slump
Gold has gained more than $30 over the weekend. In the early morning hours, the price of the yellow metal is at $1,425 and climbing. And the bets are on the table, Bloomberg reports:
Hedge Fund Gold Wagers Defy Worst Slump in 33 Years…
Undeterred by last week’s crash, some big names are getting back into gold. Nevermind the two-day, 13% drop. These guys want in on the action right now…
[Read more...]Click for detailed story