Prieur Perspective: Investors Search for Safe Havens
Fears about the intensity of the global recession and renewed skepticism regarding the beleaguered financial sector fueled a flight to safety during the past holiday-shortened trading week. President Barack Obama’s inauguration offered only a brief respite from the dreadful economic and earnings data and pounding of the stock markets. Commentators were in agreement that Mr. Obama commenced his tenure against the worst economic background in living memory and had his work cut out to resurrect America from its economic morass. I wish him well with this daunting task. As investors piled into the perceived safety of gold (+6.9%) the US ...
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