Posts Tagged ‘China’
Gold and Oil News - September 10, 2013 18:36
Syria Bombing Fears Recede Along with Gold Prices
Now that Vladimir Putin has played most of his hand at the G-20 meeting, getting the Assad government to agree to placing its chemical weapons stockpile under international control, the Obama administration has to back down from unilaterally bombing Syria in the name of Qatari and Saudi gas pipeline interests. This has gold seeing profit-taking […]
The FOMC Talks and the Markets Shriek
The Fed held its monthly meeting to determine the course of the world over the past two days wherein it was decided that the current QE program would continue indefinitely. But, the rhetoric surrounding said indefinite time frame was apparently hawkish enough to send everyone scrambling for cash. In the wake of the press conference […]
Bond Markets Gyrate While China is on Holiday
For anyone trying to figure out why Gold cannot rally in the face of spiking bond yields and an appreciating Yen, look no further than your calendar. The Chinese markets are closed for the first three days of this trading week and with that one of the major sources for gold demand. For those that […]
Upheaval in the Yen Pushes Gold over $1400
Last night while the Yen was breaking down I found myself laughing at the stubborn refusal for the futures market to allow gold to print a 14 handle for hours, even though the Yen carry trade was breaking down. Finally this morning the bulls could be held back no longer but only to pop as […]
Gold Pops Back Over $1470 On German Data
The resetting of the Euro back near $1.30 coupled with a drop in oil and base metals prices saw German industrial production jump 1.2% in April, far exceeding the estimates and surprising markets. The Euro responded in kind and the selling in the Dollar it engendered was positive for Gold. It didn’t hurt that right […]
China and Australia Set to Cut Dollar out of Trade
I’ve been saying for a long time that the Petrodollar system will not die all at once. It will do so by a thousand tiny cuts. In the past 18 months or so China has signed more than 30 bilateral trade or currency swap agreements with countries around the world. Last year the big one […]
Cyprus Risk-Off Trade Pulls Equities Lower
The S&P 500 and the Dow Jones Industrials both closed off slightly today as this was a risk-off kind of day in most every way. Following up Friday’s weakness into the close with today’s drop is creating a pause in equities as fresh fears over the stability of the European banking system have been raised […]
Gold Continues to Hold $1600
There’s little doubt that the current sentiment in Gold is as bearish as it has been since the worst days after the tech bubble burst while prices would continually attempt to break higher but were constantly rebuffed and people bailing of winning positions because of fear. Today we have much the same thing. Since the […]
Gold Ends November Down $4 for the Month
A continued assault in the Gold pits today ensured that Gold ended the month of November down $4 over the opening price. For the technical guys out there that’s a 2 month downtrend which will have the longer-focused momentum players expecting a down December. Given how tight the spread between the November open and closing […]
China, Japan Do the QE Thing While U.S. Markets Sleep
On Monday the Bank of Japan announced another addition to their near-limitless QE program, Â¥11 trillion to be precise. The market was hoping for Â¥15 trillion and as such the Yen promptly rose by 40 basis points. This is what passes for markets these days.  The front-running of what traders expect central banks to do […]
Most Popular Content
- Pressure Mounts on the British Pound Following Autumn Budget
- Impact and Outlook for the U.S. Economy on Rate Cut
- Gold and Copper Markets Respond to Powell
- US Stock Market Faces Turbulence and Mixed Commodity Reactions
- Pound Holds Strong as Labour Wins with a Landslide
- Crude Oil Prices Rally as Inventory Declines and Rate Cut Hopes Emerge
- Strength in Gold and Copper Continues – But for How Long?
- Weak Payroll Data Sends Stocks Higher