Loading ...#Greece just joined the negative yield club. Today’s €487ml 3-month T-bills issuance got a -0.02% yield.
https://twitter.com/YanniKouts/status
*Dennis Gartman…
Finally regarding gold, we note firstly that gold made it through Friday but stumbled rather badly on Monday. However, it regained its footing yesterday with spot gold trading pleasantly and technically importantly above $1505. It shall require a movement upward through and a close above $1520 to truly put the gold bears on the defensive and to raise the confidence level of gold bulls such as we to the point where even our last and highest prices paid are insulated from random market noise.
…regarding our gold position, following the PMI “news” early last week we bought a bit more gold. The monetary authorities of the industrialized world really haven’t any choice but to continue to err in favor of monetary expansion, all things being otherwise equal, and thus unless the very rules of monetary policy have been wholly rescinded that shall be bullish of gold. Mr. Powell’s comments yesterday only serve to underscore that notion.