Gold Investments Market Update - Equities and Commodities Tumble - Gold Decoupling? |
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Gold continues to consolidate between $700/oz and $760/oz and looks set to rechallenge $800/oz in the coming days as safe haven buying reemerges on continuing concerns regarding the global financial system and economy. Gold was down marginally yesterday (some 1%). It surged after the Bank of England’s massive interest rate cut of 150 bps but more counterintuitive trading was seen as gold was aggressively sold by US investment banks on the COMEX who did not appear to want to see gold surging
Filed under: Fundamental
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