1. The Markets are reacting very negatively to the FED's announced position. People are selling currencies and stocks like the end of the world came tomorrow. Especially hard hit the emerging markets, their currencies and the US Stock Market.
2. Gold has done well yesterday and so far it withstood all attempts to push it below 1,260. In fact, a mini short squeeze developed yesterday as it was rumored that India will lift its rather silly restrictions on buying gold.
India is having elections and in case you are curious about the official issues, go there:
http://en.wikipedia.org/wiki/Indian_general_election,_2014
However, another issue is the repeal of the restriction on gold sales. While, India's Finance Minister denied that his govt plans to loosen restrictions, the country is in the last stages of scramble for votes.
Friday, January 24, 2014
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment