Gold gets stimulus boost
There’s nothing like another huge hole in the US deficit picture to make the case for buying gold. Headlines have been quiet today but it was clear on the weekend that Congressional leaders are working towards a deal on another round of stimulus in the $1.5T to $2.2T range.
Gold dipped in Europe and touched $1187 but has stormed back to $1917 on broad optimism. It briefly ticked above Friday’s high of $1917.16.
The Aug-Sept lows are starting to look like a double bottom but it still a tough seasonal period.