Spreadex Market Update
Markets subdued
Although there has been news reports that Democrats have rejected a budget proposal by Republicans with the potential for tax hikes and spending cuts looming closer every day, investors are now expecting officials to find a common ground and ensure the US economy does not start 2013 in economic tatters.
Gold is also finding it difficult to attract much confidence today after dropping to a one-month low and breaching the psychologically important $1,700 level. Clearly investors seem to be shying away from Gold amidst uncertainties as to how the precious metal will react to key policy official’s announcements in the US over the coming weeks.
Thus, in the present market where not even Gold can be deemed attractive, which it arguably should be during uncertain times, investors should ponder whether in today’s turbulent economic times whether many assets can actually be deemed to be a ‘safe haven’.
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