Markets bounce back! So does Gold, finally!
September 29th was indeed a major turning point in global financial markets, +/- 1 day. That was my target date, so predicted in my previous post. From those low levels, markets moved sharply, some even returning to previous highs. USD goes soft Having started on September 29, and recording its first peak on October 8th, this well supported equity rally was accompanied by a weakening US dollar (-3% against global currency basket) as more and more investors convinced themselves that the FED would not raise interest rates until next year. It is important to see the US stock performance in this light, too, especially if you normally place your investment in EUR or some Asian currencies like the Singapore Dollar (*SGD), all of which saw their local currencies strengthen. Curiously, I noted that USD investors quickly switched to Asian equity and - gold funds in the last week of September, thus avoiding the trap of remaining stuck in a weakening dollar environm...