Negative Interest Rates, Excess Reserves, And Gold

摘要

The rising precious metals prices since January are startingto show signs of exhaustion. Gold prices, for example,are still up $180 from their December low of $1,046,but at $1,226 on 6 April they also were off $54 from theirearly March intraday highs around $1,280. Similar pricepatterns exist in silver, platinum, and palladium. Pricesremain volatile and within striking distance of their early-March highs, but they have lost upward momentum overthe past few weeks.