$GLD and $SLV Prices as of May 29 2018 @moneymetals
8:20 AM
May 29, 2018 -- Gold and silver markets eeked out slight gains in last week’s trading despite the ongoing rally of the Federal Reserve Note "dollar" relative to other major currencies.
The dollar, as measured in the DXY index, reached its highest levels since November. The surge was driven in large part by weakness in the euro.
Renewed concerns over the PIGS countries in Europe weighed on the EU’s common currency and drove a bit of safe-haven buying in gold and silver. Events there are familiar, but worth paying attention to. Support for the EU continues to wane.
Italians who grow weary of austerity are demanding that officials in Brussels relax rules on borrowing and budgets. Populist leaders are increasingly popular and could soon begin steering the nation out of the union. A similar story is developing in Spain.
Deutsche Bank is also back in the headlines. Share prices have made new lows and executives there announced the firing of some 7,000 employees worldwide – about 7% of its workforce.
Investors are worried by the bank’s high leverage, continued losses, and exposure to mountains of bad debt. A collapse at DB would dwarf the collapse of Lehman Brothers or Bear Stearns in terms of significance to the global financial markets.
Check out live precious metals prices here:
https://goo.gl/sggYF1
The dollar, as measured in the DXY index, reached its highest levels since November. The surge was driven in large part by weakness in the euro.
Renewed concerns over the PIGS countries in Europe weighed on the EU’s common currency and drove a bit of safe-haven buying in gold and silver. Events there are familiar, but worth paying attention to. Support for the EU continues to wane.
Italians who grow weary of austerity are demanding that officials in Brussels relax rules on borrowing and budgets. Populist leaders are increasingly popular and could soon begin steering the nation out of the union. A similar story is developing in Spain.
Deutsche Bank is also back in the headlines. Share prices have made new lows and executives there announced the firing of some 7,000 employees worldwide – about 7% of its workforce.
Investors are worried by the bank’s high leverage, continued losses, and exposure to mountains of bad debt. A collapse at DB would dwarf the collapse of Lehman Brothers or Bear Stearns in terms of significance to the global financial markets.
Check out live precious metals prices here:
https://goo.gl/sggYF1
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