Shaw Capital Management News

GOLD continues to move to the upside as debt woes continue in both the US and Europe. Recent data confirms that bullish bets on Gold are rising in the hedge fund space and as much as this is a positive it could show that a temporary top is in sight. Gold has moved higher form the US close this morning and we briefly touched on $1,598 before easing back slightly. Gold is currently trading higher by 0.40% at $1,597 in early trade.
We would be cautious getting too bullish in the ST as our ST objective has nearly been reached at $1,600. As investors are now getting increasingly bullish on Gold it would not surprise us to see a temporary pullback towards $1,550/60 before the next leg higher. In the MT we remain firmly bullish and target $1,750 by the end of Q3. We look to sell out of ST longs today on the approach to $1,600 and await a pullback.

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The UK and the Budget: Shaw Capital Management Korea. The UK cannot delude themselves that rapid resumed growth will lead to a rapid return of the previous revenue streams. UK growth in most forecasts, ours included, is projected as slow. In our view there is a good reason: the continuing shortage of oil and raw materials worldwide prevents rapid growth for the world as a whole and since emerging market economies are continuing to grow rapidly that restricts the growth possibilities in countries like the UK and other developed countries.

We are already seeing inflation spread into China and otheremerging countries, forcing a tightening of policy.

It seems likely that this tightening will be enough to restrain world growth to rates that will not push commodity prices much higher. So even the fast-growing world economies are being forced to limit their growth ambitions; as for the UK they are achieving 'recovery', but hardly enthusiastic growth.

All this will only change when innovation in raw material use has freed up net world supplies.

Shaw Capital Management News:The UK And The Budget: Shaw Capital Management Korea
The UK cannot delude themselves that rapid resumed growth will lead to a rapid return of the previous revenue streams.
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Gold continues to move to the upside

GOLD continues to move to the upside as debt woes continue in both the US and Europe. Recent data confirms that bullish bets on Gold are rising in the hedge fund space and as much as this is a positive it could show that a temporary top is in sight. Gold has moved higher form the US close this morning and we briefly touched on $1,598 before easing back slightly. Gold is currently trading higher by 0.40% at $1,597 in early trade.