Spreadex Market Update
European stocks inflating
Gold, a proxy to central bank activity and an indicator of fiat currency weakness, has been making gains too. But breaking the $1,300 level has proved one step too far. Investors are all too aware of just how unloved the yellow metal has become by large institutional investors, pointing to a potential near-term continuation. Arguably, gold has underreacted to recent dollar weakness and news that the Fed could keep printing for longer, worrying gold bugs about the health of the market.
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