They see scope now for a move back to $45, and I hope they’re right as I’m long They see Gold stalling near $1802 in short term but scope for a move to $2070 in near term.
Iranian tensions continue to bolster the oil price and any rise in oil prices is usually Yen-negative and positive for any oil producing countries. If the oil-producer also happens to have a AAA+ rating, then that’s even more positive. Hence the … Continue reading
I’m just reading the latest overall update from CitiTechs on their technical viewpoints and they remain very bearish EUR/USD, expecting 1.10/1.15 in 2012 and possibly much lower. They are bullish on Crude Oil and Gold, expecting big moves higher in … Continue reading
Reuters are reporting that a surprise fall in crude stockpiles, against expectations of a rise, have led to a 1% rally in the oil price today. WTI is up over $101.50/bbl and Brent is trading near $111.50/bbl. The CAD is … Continue reading
It seems no market is safe from the scourge of the stop-loss hunt. The Nikkei is almost 1.5% higher today whereas other markets are much more sedate, +0.25% on average across the region. Gold is pretty flat on the session … Continue reading