"The spot price of bullion has jumped by over 1% today to $3,944 per ounce, as it closes in on the $4000/oz mark. This means the gold price has jumped by 50% since the start of January, on track for its best annual gains since the Iranian Revolution. Gold has been driven higher this year by several factors, including rising concerns that government debts are unsustainable."
"Japan's stock market has surged to a record high today, while the yen is plunging, after the leadership of the country's ruling party was surprisingly won by fiscal dove Sanae Takaichi. Predictions that Takaichi will be a pro-stimulus prime minister has sparked a wave of enthusiastic buying has pushed the Nikkei 225 share index up by 5%, as it gained 2315 points to close at 48,085. But the yen is very much moving in the other direction."
Gold spot price reached $3,944 per ounce, rising over 1% and approaching $4,000/oz. The metal has gained roughly 50% since January, on track for the best annual increase since 1979 and the Iranian Revolution. Investors have driven gold higher amid growing concerns about unsustainable government debts and expectations that inflation will erode debt value. Japan's election result increasing expectations of fiscal stimulus and looser monetary policy reinforced those concerns by implying higher borrowing and lower interest rates. Japanese stocks surged while the yen weakened sharply as markets priced in pro-stimulus policies.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]