Intraday Market Thoughts
On the Fiscal cliff, China, Euro and the Bank of England
by
Nov 7, 2012 17:19
Gold lags behind the sell-off in risk-on instruments (equities, oil and non-USD currencies) as the fear of prolonged budgetary stalemate from the Presidential/Congressional status quo and eventual fiscal cliff threatens to erode 1% from US GDP and give no choice for the Feds but to stay on course into 2014 to the benefit of gold and precious metals. Here's more on EURUSD, China and BoE http://www.cityindex.co.uk/market-analysis/market-news/1889372012/on-euro-fiscal-cliff-boe-china/
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