Gold has been well and truly under the hammer since dropping below $1900 last week. The metal had already crumbled into the monthly and quarterly close on Friday, when it ended the week at $1,848.63. It took a further hit yesterday and more again so far today, as the combination of a weaker Yen and higher US yields continues to weigh on its attractiveness. This all about the cost of carry for wholesale positions and it is biting for sure. Gold closed in the US last night at $1,828.03. It has fallen back to as low as 1,815.30 so far this morning, as the Yen continues to weaken gradually. The earlier high was set at 1,829.61. Gold is just now trading at $1,819.50
FTSE 100 still choking on banking stocks
Last week the UK government announced it plans to sell all its remaining holdings of Nat West (RBS group) and that has seen the share price rebound...
Dow Jones futures slip after Moodys lowers Chinese outlook to negative from stable
Some days back I ran a series of updates looking behind the scenes at what is really unfolding in the Chinese economy and it is not positive at all...
DAX in the driving seat again this morning?
Yesterday the major European stock markets all set lower daily closes, but with one notable exception.That was the DAX, which only narrowly avoided...