• Gold: 1,521.31 5.24
  • Silver: 18.53 0.58
  • Euro: 1.099 -0.003
  • USDX: 98.661 0.148
  • Oil: 58.17 -0.28

Europe in Focus

Ranting Andy
|
Monday, June 4th

SilverSeek.com Comment Wire

Over the weekend, the European political/economic conflagration worsened further, with the Spanish Prime Minister forced to re-assure the populace on national TV that “this is not the eve of the Apocalypse” – which it is, of course, from a financial standpoint.  European equities were flat to down, although Spain and Italy enjoyed a brief respite by BEGGING the EU to create some cockamamie “governing board” to take over their finances.  It will never happen, but allowed those two markets mild dead-cat bounces.  Following Friday’s major PM up day, prices have been holding their own all day with the Dow down yet again – particularly gold, now just $6 from its Friday close.  With Wednesday’s ECB meeting and Bernanke’s Thursday speech before a Joint Congressional Economic Committee about the near-term outlook, be prepared for ANYTHING this week.

 

Andrew C. ("Ranting Andy") Hoffman, CFA

Marketing Director

Miles Franklin Ltd.

ahoffman@milesfranklin.com

www.milesfranklin.com

 

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