Gold rises after biggest sell-off in five years
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
UK inflation was unchanged last month, defying expectations of a rise to 4%, with food price rises finally slowing.
What goes up has to go down. You’ve had a market that’s gone parabolically higher, at some points it’s going to get some relief.
Gold had run ahead of the ‘debasement’ story. We had flagged that prices were stretched to levels previously associated with pullbacks and had reduced our long position accordingly.
Continue reading…Gold rises after biggest sell-off in five yearsGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.UK inflation was unchanged last month, defying expectations of a rise to 4%, with food price rises finally slowing.What goes up has to go down. You’ve had a market that’s gone parabolically higher, at some points it’s going to get some relief.Gold had run ahead of the ‘debasement’ story. We had flagged that prices were stretched to levels previously associated with pullbacks and had reduced our long position accordingly. Continue reading…
