Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

In this Discussion

Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

    Support MFO

  • Donate through PayPal

Gold Over 200 Day Hurdle


Joe Deaux
Ranjeetha Pakiam
October 14, 2015 — 2:50 PM CDT
Updated on October 14, 2015 — 8:52 PM CDT Bloomberg

image
http://www.bloomberg.com/news/articles/2015-10-14/gold-comes-back-to-life-as-prices-top-200-day-moving-average

Gold at Over 3-Month High on Bets Fed To Delay Rate Hike
Thomson Reuters | Last Updated: October 15, 2015 07:27 (IST)
Gold is a non-yielding asset and tends to benefit from ultra-low rates.

It also benefited as the dollar on Wednesday slumped to its lowest since late August against a basket of major currencies. A weaker dollar makes gold cheaper for holders of other currencies.

Elsewhere, Elliott Management Chief Executive Paul Singer said on Wednesday every institutional portfolio should be 5-10 percent invested in gold to protect against zero interest rates that are degrading the value of paper currency.

Among other precious metals, silver hit a 3-1/2-month high of $16.18 an ounce on Thursday before easing slightly. Platinum climbed to a five-week high of $999, before giving up gains to trade down 0.2 percent. Palladium edged up.
http://profit.ndtv.com/news/market/article-gold-at-over-3-month-high-on-bets-fed-to-delay-rate-hike-1232386

Comments

  • Well it "broke down" in June. Let's see what happens. Hindsight is always 20-20
  • In a related article:

    "with demand growth for zinc and other metals waning in China somewhat, with a notable downturn in new construction there among other things, you wonder if, or to what degree, Glencore is chasing down a declining market (in growth terms).

    With this question in mind, we asked BMO analyst Jessica Fung her view on how much of a difference Glencore’s zinc cuts make to the zinc market.

    She responds, “Glencore’s cuts do matter.”


    zinc-turning-bull
Sign In or Register to comment.