The Phaserl


Gold Slips; Silver Steady

from Dan Norcini:

Gold had a double whammy working against it in today’s session. The first was stability in the US equity markets. Every single time stocks have moved higher this week, gold has lost ground. The opposite has also been true; when stocks have dropped on emerging market fears, gold has moved higher. It is acting like a safe haven can be expected to act, at least for now.

This emerging market thing is providing some support to the gold market and preventing it from moving sharply lower as lingering fears are bringing in some dip buying. However, when the US Dollar firms, it attracts selling.

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