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Inflation AND Deflation?

Daily Recap

Lots of action today, starting with the British deciding to push the Brexit issue to next year, reminding us all that the drama there is far from over. The pound got pummeled as a result, hitting its lowest price compared to the dollar in 30 years. The dollar as a whole did well, its index up above 96 -- its highest level in 2 months. Selling pushed over into the bond market, but most of all into the precious metals, which just got hammered.

 

Asian markets are almost MIA for much of this week, and in their absence traders were able to push gold below several key support areas. That in turn triggered lots of sell orders, with few buyers willing to step in. The result was gold down $40, silver down a buck, platinum down $20, and XAU down 8 points. 

 

Major Asian and European stock markets were all higher ... Log in or subscribe to continue reading.


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