Gold has now rallied over 10% since December 31. This, in the words of one analyst who achieved widespread publicity was meant to be “a slam-dunk sell”.
While majority of the traders and the financial media is focused on the US stock market, stuck in a argument between whether the recent correction is finished or not, the real action is….
Tiho Brkan provides plenty of charts for you to decide….
The U.S. dollar remains mixed against major currencies after Federal Reserve Chair Janet Yellen signaled that recent soft economic data haven’t swayed the central bank from a strategy of trimming its monthly bond purchases by $10 billion at each of its policy meetings this year.
Since Monday financial markets have consolidated following the emerging market currency shocks of the previous week.
In the past years, the Federal Reserve dropped many inflationary bombs on the markets.
We discussed the state of the precious metals markets in these three interviews….
The second tapering reduction, a further $10bn per month, was announced this week. It was we are told by the news channels fully expected.
It seems as if all the major Wall Street institutions are bearish on gold, even after a 2+ year bear market and a major pullback.
t transpired last week that of the 43-odd tonnes per annum the Bundesbank expects to be returned from the New York Fed only 5 tonnes arrived in 2013.