World markets maintained their 5 year highs, finishing the week on major gains after the US Federal Reserve’s shock decision to keep its flow of stimulus steady. European markets dipped into the red on Friday as investors locked in some of the gains we have seen this week. US markets remained little changed, pointing to…
By Investment Contrarians Silver has been one of my favorite precious metals. One of the reasons I like the white metal is because not only is it used as a store of value, but it also has industrial uses. With that said, this shouldn’t suggest that I don’t like gold. The yellow metal has its…
Risers Land Securities, +1.24% Shares in Land Securities have edged higher after the company confirmed that it has agreed to acquire an additional 35.6% interest in the X-Leisure Unit Trust for £104 million in cash, taking its total ownership of the trust to 95%. The X-Leisure portfolio comprises 16 schemes, totalling 300,000 m2 of prime…
To paraphrase Winston Churchill, with reference to yesterday’s taper non-event, “never in the field of financial markets have so many analysts, got it so wrong, for so long!” As we all know, the consensus in the run up to yesterday’s FOMC meeting was that the Federal Reserve was about to scale back its bond purchasing…
Risers: RandGold ResourcesWith the Federal Reserve refusing to taper their bond buying programme last night, this sent the price of Gold jumping which has helped shares in gold miners this morning. RandGold was top riser in the FTSE 100 with shares trading 10 percent higher on the open. They have since trimmed gains. Glencore XstrataBNP…
By Filipe R. Costa & Ben Turney European central banks have been around for over 300 years. The Bank of England was formed in 1694. On the other side of the Atlantic, however, the Federal Reserve is a relative newcomer to the world of monetary policy, soon to celebrate its centenary on December 23rd this…
By Ben Turney. So, hands up if you expected the Fed to do nothing? Are there one or two hands at the back there? No, I thought not. Last night, there was a valuable lesson for all of us. No matter how strong a consensus is, it can often still be wrong. Judging by the…
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Ever since Thales first cornered the olive market in the 6th Century BC, commodities have been susceptible to manipulation by canny operators. As markets have matured, this ancient practice has survived all attempts to regulate it out of existence, even in the modern error. Back in 1955, two CME traders effectively cornered the market for…
By Ben Turney. We’ve been quite categorical about our position on gold over the summer. We are bullish and believe the current pullback represents a buying opportunity. It is true that many die-hard gold bugs loudly proclaimed their allegiance to the precious metal from the top, all the way to the bottom, losing fortunes in…
