Oil up 4%, gold up 2.2% and silver up 1.6% this week. Stocks down sharply with Nikkei down 4.5%, S&P down 4.3% & Nasdaq down 5.5%. Gold outperforming stocks YTD (see tables).
Dollar LIBOR rises to highest level since November 2008 – $200 trillion worth of dollar-denominated financial products including mortgages based off LIBOR
Rising and record U.S. debt load may cause financial stress, weaken dollar and help gold. Massive government and consumer debt eroding benefits of wage growth (see charts)
London property is in an eleven-month long slump thanks to Brexit jitters and rampant inflation. Norway remains bullish but few others feel the same way.
Are interest rate hikes bad for the gold price? Recent increases in interest rates have seen price upticks. Why? Gold sees beyond interest rate promises.