Loading ...[Heck, gold’s little bounce is just some worry over the sovereign downgrade of Japan–O! Really! Since when has gold been responding to the degradation of fiat/bonds these past many years–through a downgrade or through QE? His attitude and bias–like a zillion other gold bears–is what will keep the majority out of the once in a lifetime bull run in PMs]
Monday, December 1, 2014
Moody’s Cuts Japan’s Credit Rating
Moody’s Investors Service, a credit ratings firm, cut the credit rating of Japan one notch this morning to A1, down from Aa3.
This has further spooked gold bears and we are seeing a rash of short covering in the gold market as a result.
Let’s see how long the impact from the Moody’s decision will last and whether or not it can attract any concentrated NEW buying.