Weekly Fundamentals - Gold's Appeal Reemerges with Increasing Chances of QE3
napara111While the financial markets continued to be haunted by the rapidly deteriorating sovereign debt conditions in the Eurozone, what added to investors’ concerns were disappointing economic indicators from the US. The weaker-than-expected payroll addition in May renewed speculations that the Fed would have to implement QE3, probably after expiration of operation twist in June. This was the main reason driving gold’s rebound back above 1600 in NY session Friday. Note that the precious metal complex outperformed others in the commodity sector we covered while the energy complex was the worst performer.
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Weekly Fundamentals - Gold's Appeal Reemerges with Increasing Chances of QE3
