Over the last month, gold companies have been among the weakest performeres in the MSCI World Index. On average they are down 9.4% over the last 30 days. They also top our ranking for the biggest drop in 30 day relative strength.
The latest data from the OECD leading indicators shows that growth in Europe seems to be gaining momentum (except for Sweden and Switzerland) while in Asia growth is below trend (except for Japan and South Korea).
There has been much discussion in recent years of the leverage buildup in the Chinese corporate sector and the problems (or not) that this will (or won’t) create, so we thought we’d chime in with some quantitative data and let the reader make his or her own conclusions.