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Tuesday, September 23, 2014

An air attack on ISIS in Syria by allied forces caused gold to spike on safe haven demand.

An air attack on ISIS in Syria by allied forces caused gold to spike on safe haven demand. Yet it was short lived as the world is now used to this constant geopolitical angst and is more concerned with economic news. Fed Governor Kocherlakota intimated that inflation will remain low and that they will be cautious about raising rates. This tone is not really a strong signal in either direction and will still keep gold bugs at bay. Positive news out of China as their Manufacturing Index beat estimates at 50.50 gives an overall positive signal for the continued improvement of the world economies. The recent upward move has not changed overall trajectory as yet and only the PGMs will find some support on recent news, due to their demand for catalyst in the exhaust systems, from the automotive sector which is doing well in all markets.
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