World stock markets took a break today, literally. After a fortnight of higher equity prices in most of the world, stocks turned lower Friday on the continuing escalation of tensions in Ukraine. Investors are reluctant to hold big positions over the weekend, just in case things were to really erupt in Eastern Europe. Additionally, there is some disappointment that major market indices failed in their latest attempt to bust out to new highs. To reiterate: With stock prices at their highest levels in years and potential war breaking out in a volatile region, the sidelines look appealing to traders over the weekend.
Similarly, gold traders don’t want to be short over the weekend, as a serious outbreak of hostilities could easily send that market up $50/oz. or more. Does the $30 rally in gold’s price the last two days mean the worst is over and brighter days are ahead for the ... Log in or subscribe to continue reading.
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