As stock prices have outperformed and inflation has not surfaced, traders and investors have lost interests in gold as a safe haven and an inflation hedge.
Deutsche Bank AG and Royal Bank of Scotland Group Plc are among six companies fined a record 1.7 billion euros ($2.3 billion) by the European Union for rigging interest rates linked to Libor.
With the ECB signaling there could be more policy easing in the future, the market reacted by breaking the Euro currency future’s win streak and sending prices lower by 0.70%. Use an options spread to set up a trade with a great risk vs. reward ratio.
The firm corrected accounting errors involving loan cash flows, income taxes and derivatives contracts.