Click for full size
I'm not a gold bug, but Rolf Winkler's graph pr0n is interesting. It could imply that gold has further up to go, or that the stock market is overvalued. Your call.
Slow news day today, with biggest news that the People's Bank of China has modified the language it uses to describe its position on the Yuan, which implies that the currency will be allowed to appreciate over the near term.
I'm not a gold bug, but Rolf Winkler's graph pr0n is interesting. It could imply that gold has further up to go, or that the stock market is overvalued. Your call.In Australia employment increased by 24,500 in September, s not inconsiderable number for a country with a total population in the 22 million range.
Meanwhile, Japan appears to continue to be in a deflationary mode, with producer prices falling for the 10th month, down 6.7% year over year.
In currency, driven partly by the Bank of China statements, the dollar weakened to more than $1.50:€1.00, though it settled at $1.4961 when trading ended.
In either case, it appears that people are still betting on a recovering economy, as crude oil rose again today.
And for you gold bugs, as well as for the graph pr0n, gold hit a new record in trading today, $1,121.9/oz (troy).
0 comments :
Post a Comment