London dealing in gold saw prices retreat toward last night's new four-month lows Thursday morning, failing to rally above $1,250 per ounce as world stocks markets held flat following publication of minutes from the U.S. Federal Reserve's last policy meeting.
Speaking of India, a Holy Man’s dream might provide the solution to the government’s current account deficit. Swami Shoban Sarkar dreamt that he found 1,000 tonnes of gold beneath an ancient temple in the village of Daundia Khera.
Many were surprised at gold’s fall given Yellen’s appointment is expected to be a bullish underlying factor for most markets, including the precious metals. Market speculators are clearly convinced Democrats and Republicans will meet some kind of resolution by Oct. 17.
The political impasse in Washington and wrangles over the U.S. debt ceiling, which is leading to a gradual shutdown of the US government, is yet to seriously rattle market sentiment, but the longer it carries on the greater the risk of extreme market volatility.
If you want an objective view of energy, ask an economist, who can tell you what to expect to pay at the pump in the coming years, and why, as well as what to expect from medium- and long-term economic growth and what the real drivers will be.