Gold was down 1.72% at the end of 2014, but things are looking up for the yellow metal. Last week I returned from presenting at the Vancouver Resource Investment Conference, where sentiment for gold was through the roof.
In a documentary that aired recently on the Canadian Broadcasting Corporation's popular The Fifth Estate program, an allegory of Vladimir Putin was presented. The wily Russian president was described growing up in a shabby St. Petersburg apartment, where he would often corner rats.
Russia gets a downgrade to junk and UK growth misses expectations as the Obama administration once again moves against the U.S. energy revival while continuing to take credit for the crude oil revolution that President Obama opposes.
The current macroeconomic situation indicates that U.S. dollar will be rallying, at least in the near future. We have already pointed out in the last Market Overview, that Bank of Japan and European Central Bank are now considered as more dovish, so the greenback is seen as “the best looking of the ugly sisters.”