Stop bugging me about Gold
No single asset has the capacity to polarise investor opinion than the yellow metal, and this has certainly been the case in the past 4 years since global central banks turned on the monetary taps.
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No single asset has the capacity to polarise investor opinion than the yellow metal, and this has certainly been the case in the past 4 years since global central banks turned on the monetary taps.
The recent market rally in the euro and equity markets, despite concerns about a Greek default, suggest that the market is becoming more relaxed about the idea of a Greek default.
The recent declines in commodity prices have started to gather momentum in the wake of the recent deterioration in the global growth outlook over the past few weeks.
The key event for today after yesterday’s rise in equity markets is today’s meeting of German Chancellor Angela Merkel and French president Nicolas Sarkozy, this afternoon.
Attention this week is unlikely to move too far away from Europe after Friday’s disappointing French Q2 GDP numbers reinforced concerns about the pace of recovery in Europe’s second largest economy, ahead of tomorrow's meeting between Merkel and Sarkozy in Paris.15
Market Analyst Michael Hewson talks to Canadian TV about UK riots, China CPI and European debt problems.
European markets have retained their weak tone today, putting to one side the final debt ceiling vote in the US, which is expected to pass later today, as fears about Spain and Italy continue to weigh on sentiment.
Michael talks to Canada's BNN talking about the debt ceiling, future IMF funding and Europe.
Michael talks about the after effects of last weeks European summit and Greece bailout, the ongoing US debt ceiling negotiations, rising European bond yields, UK GDP and looks ahead to this weeks inflation data from Australia, Germany and the Eurozone as well as this weeks US jobless claims, and US GDP data due on Friday. Amongst the charts he will be looking at include GBPUSD, EURUSD, USDCHF and gold.
Michael talks to BBC reporter Jeremy Naylor on what's happening in Europe, bailouts, debt burdens, interest rates and gold.