CA put out a piece yesterday on Gold and debt ceiling performance we thought worth sharing. It’s a short read with one fresh insight we thought interesting. Here it is with our summary.
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Comment about CA:
They historically represented some of the biggest futures players in Europe on the clearing side; and their focus now is usually FX-based and technical for traders. We knew them from their Carr Futures biz before 9/11.
This data on Debt ceiling behavior was very good and worth sharing.
Summary of CA Report
Bottom Line for GoldFix:
Gold performs well *before* debt ceiling debates.
It gives some back afterwards, but net remains buoyant surprisingly, given the slamming it usually takes on the day debt-ceiling deals are announced.