Gold prices edged toward USD $1245 overnight, after falling as low as USD $1235 in a fairly uneventful Thanksgiving Thursday

Jordan Eliseo

The Perth Mint

Gold prices edged toward USD $1245 overnight, after falling as low as USD $1235 in a fairly uneventful Thanksgiving Thursday. Only country specific economic data of note was from Germany, where unemployment rose by 10k (rate unchanged), and CPI picked up slightly too. Whilst news from Germany was OK, private loans in the Eurozone as a whole continued to fall, down 2.1% y.o.y, with lending to individuals picking up slightly, but more than offset by loans to business, which fell by 12 billion Euro. Money Supply growth also declined, all of which will only add to negative interest rate talk heading into next year. Undoubtedly the most interesting (and honest) comment overnight came via Pascal Blanque (article below), CIO at Amundi, who stated We are all long central banks as an industry It's a trade that's worked well in 2013, but i wouldn't be betting my whole portfolio on that continuing (VIEW LINK)


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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

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