A tug-of-war between bulls and bears muddling risk indicators

Bloomberg/Michael Hunter and Anooja Debnath/6-1-2020

“For Stephen Gallo, a currencies strategist at the Bank of Montreal, the overall trading pattern implies a use of haven assets as a form of insurance within the return to risk, particularly on global equities. ‘The demand for gold and good government debt may be sophisticated investors seeking insurance against a stock rally that, at times, looks like investors climbing a wall of worry,’ he said by telephone.”

USAGOLD note:  Or better, climbing a wall of serious doubts and reservations ……