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Gold reclaims $2,400
In the past few minutes gold has lifted above $2,400 for the first time today. The move higher comes as stocks gain and the Yen has weakened. The move higher is also seemingly ignoring a slight rebound in US yields. That is not usual, but we are in pretty unusual times at the moment and the move lower in US yields is all about a shift out of the safety of bonds and back into stocks. Now of course that may well reverse the other way again, but for now a modest risk-on dynamic is seemingly helping gold. It is worth remembering; that the fall in gold was all about selling the metal to cover losses in stocks. So, perhaps it makes sense; that if stocks rebound so does gold? Gold has just now lifted to a session high at $2,403.51
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Nasdaq 100 slides below 18,500
Well, so much for the higher opening for the Nasdaq 100 earlier this afternoon. The push back above 18,900 looks some way off now, as the index... -
Now risk aversion takes hold of the USD/JPY as US yields fall back again
Well, you were warned about the price action likely to be seen in the USD/JPY this afternoon and it sure is volatile and since the last update noted... -
US stocks slide further into the red- S+P 500 falls below 5,450
As just mentioned in the previous update, the US stock markets have turned sharply lower since opening this afternoon. Hence we now have a fresh...
