pivotal week for markets, page-22

aimone, India has said they will review gold import duties in March. There is an election in India this year & the duties on gold have been very unpopular & potentially an election losing policy.

Besides that I think it will depend on where US equity markets head. As per the title, they are at a pivotal point.

Other factors are numerous, however none more stands out to me than what is going on in the Emerging Markets. That has no season & will be one country after another. Russia has just put 150k troops on exercise in case they are required in the Ukraine, probably sabre rattling but it creates tension. Romania is now having its own political battles. Then there is Turkey, Argentina, Venezuela & possibly South Africa & I'm sure quite a few more to boot. We are going to see crisis after another evolve over the coming months - year.

I don't think market will be willing to aggressively short gold in the current volatile global political climate.