Gold Is The Clear Winner Today
People are starting to think that it had hit the bottom
As if they haven't heard the old "The market can stay irrational longer than you can stay solvent."
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It's the day after Christmas, and many markets around the globe (especially in Europe and parts of Asia) are closed.
While North American markets are open for trading, volume is light, as many market participants are on vacation.
Naturally, things aren't moving much — except for gold, which is getting a nice bounce today.
Right now, it's trading around $1214 an ounce, up 0.9%.
The charts below show moves in various markets.
Across the top from left to right are S&P 500 futures, the dollar-yen exchange rate, and the euro-dollar exchange rate. Across the bottom are gold futures, 5-year U.S. Treasury futures, and WTI crude oil futures.
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