Stock futures slumped and the safe havens rocketed higher on Sunday evening, as the implications of the assassination of a high ranking Iranian figure weighed on risk perceptions. But never fear, the markets managed to shake off all these concerns, and reverse their losses and retake much of the losses from Friday.
Huzzah, we win again. So stocks boldly stated that there is no fear. But your friendly financial adviser may have neglected to mention that gold just hit a new all time high in euros. Gold and silver managed to hold on to a chunk of their gains as the dollar moved lower.
I would keep an eye on the former resistance for gold at $1550 to see how things may go into the Non-Farm Payrolls report on Friday.
Trump and his merry band of bankers keep pointing to the stock markets as vindication and validation of their greatness. So we might expect some serious attention to be given to keeping up the 'confidence' in the integrity of our US financial markets.
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