The past weeks were the weeks of the recovery in gold prices and the dollar. The EUR/USD rate went up from 1.08 to 1.12, while the gold price went from $1,220 to $1,260 per troy ounce, somewhat in the neighborhood of where gold prices stood a month earlier. After having written frequently about the course of the gold price and the dollar in the past, it might be a good moment to take a step back for a brief update.... »
Where Are the Gold Price and the Dollar Heading?
May 24 2017
Draghi Misses the Point During His Visit to the Netherlands
May 17 2017
The day finally arrived. After ECB Chair Mario Draghi already postponed an earlier meeting out of fear, I speculate, to become subject of fierce election campaigns, the Italian finally found his way to The Hague and finally took time to answer questions of a group of Dutch members of parliament (PMs). After all, Draghi’s meeting was initially scheduled in February, when the election battle heated up. With great pleasure of the author, Draghi was given a hard time by most MPs during his visit.... »
Precious Metals Under Pressure: So What!?
May 8 2017
93.8 percent. That is how likely the market thinks another Fed interest rate hike in June is, after the bank left rates unchanged last week. Because of these expectations, precious metals were hammered down. What could we conclude from this? And is this decline of the past few days a sign of more... »
Where There Is No Will, There Is No Way, and There Is No Will in Frankfurt
May 3 2017
“Incoming data since our meeting in early March confirm that the cyclical recovery of the euro area economy is becoming increasingly solid and that downside risks have further diminished.”... »