OT: Gold Up, Oil Soaring
posted on
Aug 27, 2013 01:40PM
....not to mention the large commercials went net long gold. We might see silver through $25 and beyond this week. SMF
A flurry of Reuters headlines climaxing with:
has sent investors scrambling for cover and added war premia to risk assets. Gold is now up over 20% from its 6/28 lows to $1,418.90; WTI jumped to over $108.50 - its highest since early March - collapsing the Brent-WTI spread back to $4. S&P futures are at their overnight lows -12pts (as all-important AAPL loses the $500 level and Icahn's dreams); 10Y yields have slid to 2.76%; and the JPY is surging back to 97.50 as carry-unwinds escalate.
Oil prices are surging...
as gold breaks away from Mikael's grip...
to a new bull market...
as a safety bid drives Treasuries higher (yields lower) and carry-unwinds smash stocks...
and the all-important AAPL loses its post-NASDARK/Icahn gains...
Charts:Bloomberg