– Gold Hits 3-Month Highs Amid “Frenetic Liquidity” (ZeroHedge, May 18, 2015):
Gold topped $1230 this morning – breaking to 3-month highs and up over 4% year-to-date – up 5 days in a row for the best run in 4 months. The surge comes causally or correlatedly coincidental with China’s explicit shift into extraordinary measures (LTROs) but, as The FT reports, market participants are concerned that algo-based funds have created a “frenetic liquidity” environment as everyone from real money to central banks “aren’t trading the gold market the way they used to.”
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