gold

Gold's recent weakness appears to have come to an end,
says Nomura, which suggests "now is a good opportunity to buy," particularly in
the options market. It says one particularly strong signal is the return of
Asian time-zone price appreciation, which indicates a resumption in demand and
"a good time to buy gold." It expects the market will now begin to react to
more traditionally gold-positive drivers, such as the anticipation of further
QE, rather than solely taking its cues from EUR/USD. "There are obviously some
caveats, such as slowing demand for gold from India, given the fall in INR.
However, [data show] a rise in Chinese demand," Nomura says. Spot gold is down
$1.60 at $1,616.40/oz