“The joint action by the world’s major central banks to boost dollar liquidity and provide cheap dollar funding to European banks facing a ‘Lehman moment’ spurred ‘risk on’ rallies in commodities and equities,” GoldCore wrote in daily commentary. “The dawning realization that money markets were very close to complete collapse will likely lead to increased risk aversion again and continuing safe haven demand for gold.”
ETFS Physical Swiss Gold Shares (NYSEArca: SGOL)
Tisha Guerrero contributed to this article.
Full disclosure: Tom Lydon’s clients own GLD.