Amazing day of trading in gold overnight with another 'fat finger' crash and market halt occurring after prices plunged circa $30 in seconds, only to recover...
Amazing day of trading in gold overnight with another 'fat finger' crash and market halt occurring after prices plunged circa $30 in seconds, only to recover above the USD $1240 range at present A mixed set of data out of Australia and China, as well as Europe (Spain improving, France and Italy still poor and the UK/Germany slowing), were followed by the release of the US ISM non-manufacturing data for Dec 2013, which missed expectations and highlighted slower growth, particularly in new orders which fell into contractionary territory for the first time in years. The data posts question marks over the ability of the Fed to continue tapering QE on a monthly basis in 2014, as per the expectations of Bernanke after they committed to a $10bn taper at their December 2013 meeting All in all a tough day to be coronated QEeen More info here (VIEW LINK) and here (VIEW LINK)
Gold bull since early 2000. Have spent +20yrs working in investment analytics, research & portfolio construction. Author of two books on investing in gold and the causes of the GFC. Lover of markets, competition & technology