GOLD PRICES cut this year’s gain below 9% for US Dollar investors in London trade Thursday morning, dropping to new 4-month lows beneath $1255 per ounce as crypto-currency Bitcoin surged past $15,000 for a 2017 gain of 1,456%.
Commodities today slipped overall after Wall Street stock markets closed lower overnight for the fourth session running from last week’s new record highs.
Protests meantime continued over President Trump’s decision to relocate the US Embassy from Tel Aviv to the Israeli capital, Jerusalem, with fundamentalist Palestinian group Hamas calling for a new intifada
on what it deemed a “declaration of war”.
“While we stand back, aghast at the complacency in Western financial markets,” says investment strategist Albert Edwards at French bank Societe Generale, “it may be China that is re-emerging, almost unnoticed, as an issue.”
Predicting that, as history shows, whatever triggers a crash in global markets will “highly likely be something that investors are not currently worrying about,” Edwards notes the doubling of new credit issued in China this year.
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