Buy, buy, buy… gold

02-Oct (FT) — Buy gold.

That’s been the market’s reaction to the ugliest US non-farm payrolls report in many months, which some commentators say lowers the likelihood of any Federal Reserve interest rate hike in 2015, reports David Sheppard, deputy commodities editor.

The precious metal, which moves inversely to the dollar and sometimes gets a lift from bad economic news, rose 1.6 per cent to $1,133 an ounce in London. It recovered post the disappointing NFP data after earlier threatening to dip below the $1,100 level for the first time since Sept. 9.

Gold remains down 13 per cent so far in 2015, but has stabilised since threatening to crash towards $1,000 an ounce back in August.

[source]

PG View: That last sentence is patently false. Gold ended 2014 at 1183.81 and is presently trading 1134.00, so gold is only down 4% so far in 2015. Fairing better than stocks I might add . . .

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