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Precious metals hold their own over Q1
Saturday, April 4, 2015 14:35
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by Alasdair Macleod, Gold Money:
Gold priced in dollars hardly changed over the first quarter of 2015, but silver performed strongly, up 7%.
In generally choppy markets across all asset classes silver was bettered only by the Nikkei 225 Index. This compares with the NASDAQ up 3%, the US long bond up 2.6%, and the Standard &Poors up 1%.
The consensus opinion that the dollar will continue rising is almost total, which is the other side of the gold trade. But while the dollar has risen, gold has not fallen: in other currencies it has gained, the principal exception being priced in yen, which has been consolidating against the dollar after last year’s weakness. Gold priced in the other major currencies is shown in the next chart.
