View Full Version : Are You Losing Sleep Over Gold Prices?

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09-01-2015, 01:40 PM
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Are You Losing Sleep Over Gold Prices?

The U.S. stock market indexes pulled lower on Friday, but they remain on track to finish, one of the most tumultuous weeks in recent memory, with modest gains. Overall, they are in negative territory after Monday’s plunge sent them into correction territory.

We can thank comfort signs from China (China’s central bank was again intervening heavily to buy domestic shares) and upbeat U.S. growth data for the sharp rebound on Wall Street. Or maybe we should thank a parade? Kitco's Jim Wyckoff reports that next Thursday, China celebrates 70 years since its victory over Japan in World War II. “There will be a big military parade on that day. Market watchers speculate that China’s government does not want a slumping stock market to take the luster away from the big parade, and thus this week’s heavy government intervention to support its stock market,” he said.

Wyckoff also noted that gold prices are higher Friday as there is some skepticism that equities will continue to rally.

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Count Stacula
09-02-2015, 07:18 PM
Nope, not a wink.