Just a quick observation on today’s new all time high in the price of gold on news that the IMF has sold 200 metric tonnes of gold to India’s Central Bank.
Usually, when the IMF sells gold, the price of gold goes down.
Historically, central banks sell their gold. (Tin foil hats aside on the reasons why)
Instead gold went up today, typically, when gold goes up, the US dollar goes down. Not today, it went up too.
Usually, when the USD goes up, the Canadian dollar goes down. Not today though, the CDN went up even more than the USD.
Even Warren Buffet’s Berkshire Hathaway went up on news that they would be undertaking their largest buyout ever and splitting the Baby B’s 50-to-1.
(When a company announces a takeover of another company, their stock often goes down while the target companies spikes higher.)
Just one of those zany days in the financial markets.