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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 8936
Posted: Feb 22, 2010 5:00
Comments: 8936
Forum Topic:
Gold, Oil & Indices (Equity & Bond Indices)
Discuss Gold, Oil & Indices (Equity & Bond Indices)
Hinges all on China credit crunch which isn't over, SHIBOR overnigh and 3 m fell but OIS bank papers doesn't. I think if PBOC
admits shadow bank problem and injects liquidity to troubled banks, gold will rise to 1130 at least.
my source told me 1220 is safe due to big hedge positions by miners. Spot gold will eventually reach 1100 but I think not tomorrow.
the market on 10y yield correlation play, atm, i dont make any guesses on any individual.
read AL's shibor article.
http://www.cityindex.co.uk/market-analysis/market-news/12921722013/bernankes-dollar-bounce-soaring-shibor/?cid=0000215115
btw, FT china said pboc easing is kinda wish from bankers.