The last time markets were defending against sovereign defaults in the same way they seem to be doing with EM concerns so high was summer of 2012.
Happy New Year from Emerging Money!
We start you off with four charts that matter today and will matter this year –
As we rapidly approach 2014 Emerging Money has your 2014 emerging markets outlook.
The spot price of gold continues to remain basically flat as gold trades in a tight range this week ahead of today’s conclusion of the Federal Reserve two day meeting.
This has been the trading call on Gold for last 6 weeks. U.S. default/shutdown.
Ahead of the FOMC statement / decision to whether to taper or not and by how much gold prices dipped below the all-important $1,300 level struggling to keep its head above the $1,300.
Gold prices are basically flat this morning as gold bugs begin their two day Fed watch. Market participants are anticipating the Federal Reserve to announce the start of its unwinding process to its monthly $85 billion bond buying program at the conclusion of the two day meeting.