I have been telling my colleagues that a continued rise in risk aversion would likely see gold outperform equities and other commodities as cautious investors moved into safe haven assets such as gold, US Treasuries and German Bunds. This view has played out with gold holding up relatively well compared to cyclically driven commodities such [Read more...]
Precious metals have been hit particularly hard in recent trading and I see potential for further downside in the coming days, as I suggested recently. Weaker equity markets, a rise in risk aversion and a concomitant rise in the US dollar have weighed on commodities. Currently, daily momentum indicators are firmly into oversold territory and [Read more...]
Precious metals across the board have performed well in 2009, but I note that gold and silver have underperformed relative to platinum and especially palladium. As illustrated by the chart, palladium has outperformed, up 49% since January, followed by platinum (up by 30%), silver (up 23%) and gold (up 8%). This relative performance, I believe, [Read more...]
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