Today’s markets started off with something of a bang. Renewed concerns about Ukraine, along with China’s slowdown, put the bears in charge early and sent stock markets lower around the world. Safe haven investments – especially gold, the euro, and the Swiss franc – rose sharply in response. Later, as stock prices rallied somewhat, those three markets remained quite strong, suggesting that the bigger fear on investors’ minds is Ukraine after all.
Spot gold is close to its highest levels of the last four months, while swissie hit new 2-year highs. Even my lethargic Swedish krona has stirred a bit, scoring new 3-month highs today. Rather clearly, people are looking for safe places for their funds, as a precaution against possible further tensions in Eastern Europe. Will the Swiss franc, recommended here for months, continue moving higher with the euro or choose its own path? Either way, the trend is our friend, ... Log in or subscribe to continue reading.
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