Wednesday, June 25, 2014

"Perfect Storm" is why Gold rose last week

Dennis Gartman
We had what appears to have been a ‘perfect storm’ of buying as the market was finally reacting to the comments from [Federal Reserve Chairwoman Janet] Yellen the day previous; was reacting to the continued problems in Iraq and was reacting too to the US dollar’s weakness yesterday.

That should have been enough Wednesday afternoon to touch off buying, but it took further strength in crude oil prices and an expansion of the problems in Iraq to set the stage for the perfect storm