Tuesday, 27 September 2011

Have We Seen the Top of Gold's Bull Run?

THE DAILY TELEGRAPH: Despite the slide, gold remains one of the best-performing asset classes of 2011 and recent falls have merely reversed the gains seen in August.

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