Become a Patron


Subscribe on
iTunes    Android
YouTube    RSS

Market Report: Is This a Major Turning Point?

by Alasdair MacLeod
Gold Money

The period of consolidation for gold and silver appeared to have come to a dramatic end yesterday (Thursday) in heavy futures volume, with gold rising $30 and silver by thirty cents. There was more than a touch of bear squeeze involved, particularly for gold. In this morning’s trade in Europe (Friday) prices were steady, leaving gold up a net $21 on the week at $1221, and silver unchanged at $14.62.

[…] We need to look at this week’s performance in a wider context. Yields on US Treasuries rose sharply, and a number of analysts issued research notes forecasting even higher yields to come, based on technical analysis. It triggered a sharp slide in equities, with the Dow falling 1,400 points (5.3%) in only two trading sessions, and the dollar lost ground as well. In recent weeks, extreme speculative positions across a number of markets had built up: short precious and base metals; short euro, short US Treasuries, all long dollar. It required little to trigger a dramatic reversal.

Continue Reading at GoldMoney.com…

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

  

  

  

Time limit is exhausted. Please reload the CAPTCHA.