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Mon, 2017/06/12 - 5:30am | Your editor
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*I have no idea if Trump is suicidal or not but his decision to stand up to Comey while under oath reeks of Mayism. I imagine that there has to be a tape, or otherwise Trump is toast.

*Our pal Adrian Ash wrote to explain the gold sell-off surprise after Theresa May failed to win a Parliamentary majority. The editor of www.BullionVault.com said the UK investors were selling and taking profits as gold rose in sterling terms. Volume in British trading was 4 times that of anormal Friday and the price in sterling of the yellow metal hit £1007 after it opened the week at £993.

Also unexpectedly, the UK index rose, mainly because the FTSE 100 is dominated by companies which operate globally, and are able to offset the terrors of a “hung” parliament thanks to currency factors. The exceptions were outfits like BT, the homeland telco, which mostly earn sterling. And even though oil stocks are under bearish pressure worldwide now, UK oil companies are up because they are dollar-earners.

 

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