The near-term in Europe might be darker than many currently anticipate (as reflected in January’s asset-buying euphoria) if we take note of certain underlying trends. An injection of liquidity has not resulted in an injection of loans into the region’s faltering economy, for example.
Gold prices touched lows not seen in over six weeks overnight and they were heading towards finishing this week with their worst performance since the commodity meltdown of early May. Spot quotes showed the yellow metal trading near $1,486/oz.
New York spot precious metals dealings opened with relatively small losses on this last day of June, and appeared to be in search of fresh drivers to countervail ebbing interest and participation by speculators and professionals.