new_trader
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Gold stocks are rallying, which isn't a bad thing because I added a few more to my portfolio when they were cheap. However I've seen this price action before with gold stocks and gold just before a Central Bank meeting. The ECB and the BOE are meeting and will make their announcements tomorrow, Thursday 5th July 2012.
The market appears to be anticipating further easing but I am sceptical. I think they are going to carry on the pretence that everything is O.K for the moment but that they stand ready to act just in case...or whatever.
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Draghi Says Officials Agree on ECB Unlimited Bond-Buying
Draghi Says Officials Agree on ECB Unlimited Bond-Buying - Bloomberg
“Governments must stand ready to activate the EFSF/ESM in the bond market when exceptional financial-market circumstances and risks to financial stability exist -- with strict and effective conditionality,” Draghi said
Central Planners...