Advertisement
U.S. markets closed
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow 30

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Russell 2000

    2,124.55
    +10.20 (+0.48%)
     
  • Crude Oil

    83.11
    -0.06 (-0.07%)
     
  • Gold

    2,254.80
    +16.40 (+0.73%)
     
  • Silver

    25.10
    +0.18 (+0.74%)
     
  • EUR/USD

    1.0800
    +0.0007 (+0.06%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • GBP/USD

    1.2631
    +0.0009 (+0.07%)
     
  • USD/JPY

    151.2200
    -0.1520 (-0.10%)
     
  • Bitcoin USD

    70,067.81
    -365.39 (-0.52%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Nikkei 225

    40,369.44
    +201.37 (+0.50%)
     

ANALYST: All My Clients Are Wondering If What Happened To Gold Happens To Stocks Next

Kit Juckes
Kit Juckes

Bloomberg TV

Kit Juckes

The last few days have seen a total liquidation in the gold market.

Yesterday, the metal was down more than 10 percent, marking its worst one-day drop in 30 years.

It's stabilized a bit this morning, but is still trading below $1400, around $200 less than it was worth just a week ago.

Stocks had a nasty day yesterday as well, as weakness from the commodity markets seeped into the equity markets.

Société Générale FX strategist Kit Juckes says this morning that a lot of his clients are asking whether what just happened to gold will happen to stocks next.

"I rather sense that today we're all waiting for some new news while nervously wondering if there is more liquidation to come," wrote Juckes in an email. "The majority of the mails I get wonder less about gold and commodities (the damage is done), and more about whether we will see a repeat in equities."

For his part, Juckes doesn't think so – but the thought is definitely floating around out there, nonetheless.



More From Business Insider

Advertisement