The FTSE 100 has slumped by 8.3% following the UK’s vote to leave the European Union in yesterday’s referendum, while government bond yields have fallen to record low levels. Markets will also now be digesting the news Prime Minister David Cameron has announced his resignation. He said this morning he hopes a new leader will
Gold traders and analysts were bearish for the first time in seven weeks, a Bloomberg survey showed, with seven bulls outnumbered by 10 bears, and four sitting on the fence. That’s a shift from last week when there were 16 bulls, four bears and one neutral. Gold rose 14 percent this year to $1,207 an ounce
Gold’s explosive start to 2016 has lifted prices to the highest level in a year as investors flee a bear market in global stocks, a weakening dollar and the fallout from the spread of negative interest rates. Futures in the metal posted the biggest weekly jump in seven years even as prices fell on Friday,
The gold market has gone quiet before the Federal Reserve meeting. Volume was about 47 percent below the 100-day average for this time of day, and Monday saw the lightest trading all year, according to Comex data compiled by Bloomberg. Gold futures for December delivery slipped 0.3 percent to $1,104.70 an ounce at 10:26 a.m.
Having spent some time catching up on our Gloom, Boom & Doom reports, from the honourable Marc Faber last week, one always has to ponder the bearish case. In his August report, Faber analysed the 15 largest bear markets since 1929, which makes interesting reading. According to Faber, on average, bear markets give back 21
