Louis James, Casey Research managing editor of the International Speculator, is fluent in English, Spanish and French. He has a background in physics, economics and technical writing, and travels the world, evaluating highly prospective geological targets and visiting explorers and producers at the far corners of the globe, getting to know their management teams.
StocksThe stock market volatility remained elevated last week, in part because of the increased worries about the health of the global economy. The much-anticipated U.S.-jobs report failed to inspire a rally either as the unexpectedly sharp drop in the unemployment rate and the stronger-than-expected increase in wage growth kept the prospects of a 2015 Federal Reserve rate rise alive.
Roughly one month ago, the price of a gold futures contract expiring in December was trading at just above $1,200 per ounce. In the past few days a so-called “bear raid” on the gold market in general has driven its price down close to $1,080.
If China were to partially back its yuan with gold it would require a gold price of $64,000 per ounce, 50 times gold bullion’s price today, according to a recent article from respected Bloomberg Intelligence. It seems like an outlandish forecast.