Gold Goes From "Ultimate Bubble" To Ultimate Buy For Soros
George Soros, who once called gold “the ultimate bubble,” has resumed buying the gold ETF and shares after a three-year hiatus.
Soros Gets Gold Badly Wrong In 2010 – Gold in USD (2009 to 2012)
Submitted by Lance Roberts via RealInvestmentAdvice.com,
Last Friday the market closed below its 50-day moving average. Theoretically, such a close should have sent traders scrambling for cover Monday morning. As I noted in this past weekend’s missive:
As Goldman famously declared on Sunday night when it boosted its near-term oil prices targets (while cutting its 2017 estimates as a result of what it admits will be a delayed rebalancing of the oil market), the biggest upside risk to oil over the next months remains the threat from unexpected supply disruptions...
One problem with the jobs "recovery" that many people still can't quite figure out, is if jobs are growing, why are wages relatively flat.
As we have explained on numerous occasions, the jobs that have been created can largely been divvied up between leisure and hospitality (our waiter and bartender chart should be familiar to all regular readers of this site), and part-time help, with any wage growth being found at two extremes instead of broadly based throughout the spectrum, as Matt King recently pointed out.
Today's steep selloff was launched by the latest jawboning by Lockhart and Williams who, now that the S&P 500 is back comfortably above 2000, once again hinted that a June rate hike is back on the table. Incidentally, the dynamic of the Fed responding to the market, and the market responding to the Fed, has been the only one worth paying attention to in recent months.
Confused? Don't be. Here is an explanation from none other than Bank of America.