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London Gold Market Report from Adrian Ash BullionVault Weds 19 Dec, 07:55 EST
Jim Roger Sees “Overdue Correction” Hitting Gold as Unleveraged Money Buys at 3-Month Lows
PRICES to buy gold with Dollars rallied from their lowest levels since late August on Wednesday morning in London, recovering 0.7% from yesterday’s drop to $1662 per ounce. The drop came as Greece was upgraded Tuesday by the S&P ratings agency from “selective default” to “junk” status, following payment [...] A presentation on March 13th by Corrections Corp of America touted the coming growth of the private prison business. It was geared toward potential investors and had a very bullish outlook on locking people up for profit, which is a good thing for the economy—and since we all want the economy to be good, yay, locking people up for profit! The presentation, in glowing tones, spoke mainly about how the private prison business [...] From Bank of America The risks to our outlook The successful Greek PSI addresses – but does not eliminate – a key contagion risk for US financial markets. Clearly risks are reduced due to the absence of major debt maturities in the coming years as well as the escrow account for interest payments. However, risks remain as the second bailout package for Greece may unravel if the country fails to deliver on [...] by ZH Nomura’s Bob Janjuah has released his latest Bob’s World macro observations which won’t come as a big surprise to most. As per the last time he forecast the future, Bob has a very bullish outlook on the short-term, where he sees the market potentially jumping into the 1400s, however turning very bearish into the longer-term: “In this risk-off phase I expect to see, as [...]
“The action in gold this week will be important as strength here will indicate the beginning of a move back toward its record high. I expect that high to be probed by the end of this month. After all Eric, nothing has fundamentally changed. The dead cat bounce in the dollar has not altered the bullish outlook for gold.” Read the rest @ the ORIGINAL SOURCE Original source by Reggie Middleton About 4 months ago, I claimed that Banks Will Be Forced to Forgo Certain Foreclosures, Even If the Borrower Has Admittedly Defaulted! In summary: Without an economic incentive to foreclose, it would not be in the bank shareholders best interests to pursue foreclosure even though borrowers clearly defaulted & owe money to the lender. The economics of distressed assets in mortgage and [...] |
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