The market gives a U.S rate hike a 100 percent probability of occurring mid-December. As a result, the gold market continues to struggle as equities rally. The Trump rally is in full swing, as America's probusiness president nominates experienced businessmen to replace politicians in his administration.
Is the U.S stock market in a Trump bubble?
In Europe, political uncertainty runs high, and while a Brexit-style 'Quitaly' is unlikely, the Italian referendum adds to uncertainty about the European monetary union. The Italian banks are in a crisis, with massive amounts of bad debt and help far away.
In the Islamic world, a 'gold standard' has been approved for Islamic finance, as Shariah-compliant regulations for trading the metal have been developed. These new rules open gold to an almost $2 trillion-dollar market and should boost demand for gold-denominated securities like the SPDR Gold Trust (GLD). The gold spot price rests at $1,160.90 as of December 13, 2016
