Is US Apprentice star Donald Trump a new contrarian indicator?
On September 15, it was revealed that the forthright entrepreneur had agreed to accept gold bullion as a security deposit on a lease for a floor of the Trump Building on Wall Street. The gold was estimated to be worth about $180,000 (£115,704).
"The legacy of gold as a precious commodity has transcended to become a viable currency and an accepted universal monetary standard," Mr Trump said.
However, since the man nicknamed "The Donald" unveiled the decision the gold price has slumped by about $175 an ounce. Did his characteristically bold statement mark the top of gold's bull run?
The price falls were prompted by a sharp reversal in risk aversion boosting the dollar. This was caused by the debt crisis in the eurozone and the US Federal Reserve's decision not to launch a third round of quantitative easing. Read on and comment » | Garry White | Monday, September 26, 2011
FRANCE SOIR: L’or en chute libre : Le métal jaune perd son statut de valeur refuge. » | Mardi 27 Septembre 2011
