Today, oil fell 1%, and natural gas 1.2%. But gold rose 23 bucks to hit $1272. By my reckoning, that’s a new high – at least partly driven by the fact that even central banks have now decided they need to buy its shiny safety. All over the Western half of the planet, property prices are in the doldrums. Safe haven the Swiss franc hit parity with the US dollar, and Greek under 25s unemployment rose to 30%.
Despite these blindingly obvious signs, the FTSE rose to 5600, the euro strengthened, the UN announced that World hunger is set to fall 9.6%, and Warren Buffet told investors that the American future is bright.
In an unrelated incident, Buffets traded lower, FTSE hunger looked set to solidify, the euro weakened against the UN, and bright Americans sold Warren futures.