Vladimir Putin is almost as popular as Kim Jong Un

Jordan Eliseo

ABC Bullion

Vladimir Putin is almost as popular as Kim Jong Un. The impressive bounce in precious metals continued into the end of last week, with gold prices trading above USD $1380 an ounce. The situation in Crimea, more questionable US economic data, more bullish futures positioning and a positive technical set up all indicate that the path of least resistance is up for gold right now, with many thinking that a test of USD $1400 per ounce could be seen this week. Crimea situation may actually calm down now that the referendum is done, as i can't see any major desire on anyone's part for it to degenerate further. Bigger news was US Treasury data, showing over $100bn worth of bonds divested by foreigners. Whilst Fed will taper this week, they'll be watching that closely. Someone needs to fund Washington in their absence Full details here (VIEW LINK)

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Jordan Eliseo
General Manager
ABC Bullion

Gold and precious metal bull since early 2000. Have spent +25yrs working in investment analytics, research & portfolio construction, with a primary focus on the role of precious metals in investor portfolios. Author of two books on investing in...

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