Gold prices shot higher over night, as a huge miss to the US Manufacturing ISM report cast doubt over the supposedly strengthening US economy. Janet Yellen is...
Gold prices shot higher over night, as a huge miss to the US Manufacturing ISM report cast doubt over the supposedly strengthening US economy. Janet Yellen is certainly going to get a baptism by fire. USD gold is currently trading at USD $1259 per ounce, whilst AUD gold is at $1438.75. Silver is sitting at USD $19.49 Global markets were fell again overnight, with the Dow Jones and S&P500 down over 2% each. Damage was also seen in Europe (where PMI's broadly came in ahead of expectations, which is not to say strong), with the Euro Stoxx down 1.66%, the FTSE down -0.69%, and Spanish and Italian markets down 1.96% and 2.63% respectively. Asia wasn't spared either, the Nikkei down 2%, trading at 14,619 points, down 2,000 points on previous highs. Gold stocks have held up OK amid the continued broader equity market sell off, with GDX and GDXJ essentially flat today. more details 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