pboc

By Jeffrey P. Snider|2013-11-21T11:14:01-05:00November 21st, 2013|Markets|

That gold prices are moving within range of the year’s lows is not at all surprising. We are in the midst of the fourth discrete episode of collateral/liquidity problems in interbank, wholesale “dollars” spilling over into gold markets. It is also not unexpected to see October 23 recur as an inflection in these indications. Gold forward rates ticked higher for [...]

The Gold-China Connection

By Jeffrey P. Snider|2013-07-02T14:00:33-04:00July 2nd, 2013|Commodities, Currencies, Federal Reserve/Monetary Policy, Markets|

Gold sank lower in coincidence with the reappearance of Chinese liquidity issues. Much like the Fed, the PBOC has both denied it would inject liquidity into the interbank markets while at the same time contradicting itself. The latest from PBOC governor Zhou Xiaochuan was centered on the ephemeral concept of “stability”: “The central bank will make comprehensive use of policy [...]

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China-Gold Connection, Part 2

The Gold-China Connection

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