It has been uncommon for gold to score single-digit percentage moves either way over the last decade; we see 2014 being an exception. Gold could be described as the 'Marmite' asset class — investors love it or hate it.
After a strong round of profit-taking selling , the oil complex is starting the New Year in negative territory once again. Heading into 2014, the oil complex will continue to focus on the ongoing geopolitical issues.
Brent crude prices, the benchmark for half the world’s oil, will weaken for a second year in 2014 as U.S. output expands and threats to Middle East and North African supply ease, the most-accurate forecasters said.
In today’s essay we look at three gold-related charts, each will tell a different story about gold’s performance, but ultimately, they will all point in the same direction – the direction of another move lower in the price of gold.
U.S. stocks fell, pulling the Standard & Poor’s 500 Index down from a record, and the yen strengthened as concern American lawmakers will fail to reach a budget deal overshadowed better-than-estimated economic data. Oil, gold and coffee led commodity gains as the dollar weakened.