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Well, it looks like gold will not close down for the quarter after today's majestic move up some $50.
I certainly concede that gold could get slaughtered in the days ahead. But, today's move (and reports of people lined up around the block to buy gold in London) hint that gold is becoming more attractive to the masses. Physical gold that is.
Well, it looks like gold will not close down for the quarter after today's majestic move up some $50.
I certainly concede that gold could get slaughtered in the days ahead. But, today's move (and reports of people lined up around the block to buy gold in London) hint that gold is becoming more attractive to the masses. Physical gold that is.
As JPM guy explains, interesting to note people are not fleeing to the safety of paper or bank deposits, but gold.
The anchor in the video also mentions that every defensive trade is so crowded right now, the reply is that people are just treading water. To me this is another small sign of the crowding into sovereign bonds.
http://www.zerohedge.com/news/2016-02-11/jpm-ficc-head-people-have-more-confidence-gold-bank-deposits-or-paper-money