Gold prices closed on Obama's inauguration day at $857.25 per ounce. Exactly 12 months later on January 20th, 2010, gold had risen to $1,111.05/oz for a gain of nearly 30% in the first year after Obama’s inauguration.
Contrary to some media, Prince was no crazy “gold bug” or “Scrooge McDuck” who was “hoarding” gold for Armageddon. Prince’s hard asset portfolio had an allocation to gold of about 2% of his overall portfolio.
– Gold gains in USD, GBP, EUR, CAD, AUD, NZD, JPY – Gold gains in CNY, INR & most emerging market currencies – Gold surges 31.5% in British pounds after Brexit shock – Gold acted as hedge and safe haven in 2016 … for those who need safe haven
“140 characters of unfiltered Trump is likely to create tensions .... Markets that are already shaken by the fallout from Brexit, the coming elections in Europe and indeed the increasing specter of cyber warfare could again see a safe-haven bid.”
Venezuela’s central government has issued new dollar debt for the first time in more than five years, selling $5 billion in notes effectively to itself, using China's Haitong securities as underwriter, in what has been dubbed a "mysterious" transaction.
"Markets don’t have a purpose any more - they just reflect whatever central planners want them to. Why wouldn’t it lead to the biggest collapse? My strategy doesn’t require that I’m right about the likelihood of that scenario. Logic dictates to me that it’s inevitable..."
The Royal Mint in the UK, had beaten the Royal Canadian Mint and GoldMoney to it by announcing at the end of November that they were launching a blockchain project, one which will be in direct competition with the Euroclear project.
"After a year in which reality has managed to surpass even seemingly unlikely calls, 2017 may be a wakeup call which sees a real departure from the 'business as usual'..." Will this be the year when China exceeds growth expectations, Brexit turns into Bremain, the Mexican peso soars and Italian banks turn out to the best performing equity asset class?
Following a November to remember, which saw tremendous market gains following the election of Donald Trump, December has started off on the back foot, with US equity futures lower, European stocks halting a two day advance ahead of the Italian referendum, US Treasury yields higher and the US dollar backing away from a 9 month high.
Since Drahi's infamous "whatever it takes" warning in the summer of 2012, European bond yields have been a one way street lower, and until the recent Trumpflation rally, had tumbled to all time lows, in many cases well below 0%. There are two catalysts, however, that may be ending Europe's QE-driven free ride, and according to a recent report by Barclays, their names are Donald Trump and Mario Draghi.