Markets move to safe haven assets


Today the markets responded continuing unrest in the Middle East with a move to safe havens such as the US dollar, gold and silver. Silver hit a 30 year high of $33 an ounce and brent crude oil hit $104, up $2. Risk aversion meant that AIM stocks are looking pretty sick today apart from silver and gold plays. A stronger dollar could mean that commodity prices will drop as they are sold in U.S. Dollars.

Rockhopper (RKH) dropped as much as 5% this morning with a seller clearly in the background and with as much as a month to wait until results from the 14/10-4 well are known. I put some today into my SIPP pension fund at 252p together with some more of copper stock, Weatherly International.