7,844. The S&P 500 printed that number on Tuesday — its highest level in history — before settling the week near 7,807. Six months after the June correction low of 7,238, the index has gained 8%, made fresh records in August, September and now October, and done it all against a macro backdrop that most […]
Here’s the question every gold bear is asking this week: the dollar hasn’t fallen — so why is gold surging? The metal has climbed from 3,955 to near 4,600 in seven weeks, and the usual inverse correlation with the dollar has decoupled. USD/JPY is still elevated, the dollar index is flat rather than down, and […]
Here’s a market oddity worth unpacking: this week, both gold (bouncing around 4,381) and the euro (at 1.146) fell against the dollar simultaneously — but gold’s bounce off the lows came while the dollar was still firm. Occasionally, everything falls together. What’s going on? The liquidation explanation When leveraged macro funds unwind crowded trades — […]