I think the chief trigger for the "profit taking" on the US markets was the OPEC meeting reaction to crude oil. I still maintain that there is more to this oil collapse than just a bit of pull back in the US markets as many guru funds commentators as well as headline newsletter gurus will have us believe. Laszio Birinyi is the latest who reckon oil collapse is a black swan event and once the market recovers from the shock, it is hunky dory for the bull trend again!
Second trigger is watch the space with the Greek parliament leadership turmoil. Maybe afterall the Euro will have a natural tendency to sell off without QE intervention! Japan now having their recession and China on wobbly feet, I am not sure where world growth is coming from.
I also suspect the current gold rally is in response to the natural tendencies of the natural hedge of gold to fear in its various forms. Is Russia/China anticipating world financial upheaval in 2015 if all the debate on their physical gold accumulation is indeed a fact or are they just diversifying away from the USD with their T Bond holdings? There was already plenty of 'talk' years ago post GFC that China was looking at not just physical gold hedging/diversifying minus their large T Bonds base but all consumable commodities whether stockpiling them or exposure to foreign direct/indirect mining operations.
Skol, how are you doing with your long trades in US stocks?
Is turmoil in world markets favorable to gold? I have not been studying or invested in this metal long enough to understand the mechanics of its multi personality.
