Gloomy Europe Continues to Dull Metals
Posted by Investment Rarities on October 13th 2011 in China, Federal Reserve, General Economy, Gold, Monetary Policy, Short Sellers, Silver, Wall Street | Be the first to comment!
“Precious metals should maintain their upward directions in the near-term, as yesterday’s rally reinforced early signs that a short-term bottom has been formed,” according to a precious metals analyst quoted in Barron’s Focus on Funds column. “But gold and silver traders are looking for more progress on the European debt crisis, he told clients. While normally gold benefits from gloomier times, anxieties remain at high enough levels to tilt futures prices down when optimism about Europe fades. A slowdown in overall global economic growth, particularly in China, has also been a concern of late in metals markets.”
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