Market Morning (04-Oct)

If we are to believe what the press and politicians tell us, the Republican leaders have signalled that they ‘will not allow a default’ on U.S. debt. If this is true then the next few days will be full of sound and fury signifying nothing. We have to temper this against the demands of Republican constituents and the right wing of its own party. What we can say for sure is that nothing is for sure!

Market Morning (03-Oct)

The bounce back in the gold price was quick and vigorous as prices below $1,300 proved too tempting to buyers. Work remains to be done at gold prices higher than here, before overhear resistance is broken. We remain of the opinion that a U.S. debt default remains probable.