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Market Report: A Steady Start for 2015
by Alasdair Macleod
Gold Money
Gold and silver started the year at a muted point, with gold at $1168 and silver at $15.50, from which modest rallies have developed, with gold up 4% and silver 6%. These rises were against a background of high volatility in equity markets, a strong US dollar and very weak oil prices.
The firmly entrenched bearish opinions in recent months for the outlook for gold and silver have backed off from recent extremes. There is confusion in dealers’ minds, brought about by the threat of deflation and the collapse in oil prices. Whereas hedge funds would automatically sell gold whenever they detected dollar strength, this is no longer the case. Precious metals now seem to be responding more to the threat of global financial instability triggered by a strong dollar, and fund managers are selling other commodities instead. Indeed, it is remarkable that despite the USD hitting new highs against nearly all currencies, gold has not only held its ground but is actually rising.
Continue Reading at GoldMoney.com…
Source: http://financialsurvivalnetwork.com/2015/01/market-report-a-steady-start-for-2015/?utm_source=rss&utm_medium=rss&utm_campaign=market-report-a-steady-start-for-2015
