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Gold/Silver Subdued as the War Drums Beat
US$ continues to get support during the overseas trading but lost ground in yesterday’s USA trading session, the current trading price for the dollar is 82.50 up 8.3 points from yesterday’s close and 5 points below the high created this morning, Treasuries are also getting support in all areas from the shortest to the longest termed. Energy Sector gained some ground yesterday after Israel posted another threat against Iran in what can only be considered the longest war preparation ever, the sector is trading lower with Crude Oil down 37 cents from yesterday’s close at $95.23 a barrel and seems to be waiting for the US Markets to open so it can continue the climb of worry. Gold is trading lower after that surprised run up in yesterday’s trade with the current price at $1,616.50 down $2.70 after reaching as high as $1,621.90 an ounce in the early trade, Silver is trading at $28.13 after the 33rd attempt to keep the price at or below the $28 mark, Copper this time is trading higher. Grains are mostly trading higher with Corn down 2 cents, Softs are mixed with Sugar/Cotton/Cocoa trading higher and Coffee/Orange Juice trading lower, Livestock Sector is mostly lower with Lean Hogs trading higher. Paper Markets are still getting the overseas support as we wait for more data to confirm how the economic system is in limbo with the drums of war pounding in the back ground …. Regardless of how these markets are run, … Enjoy the weekend and as always … Stay Strong!!
JB Slear
Fort Wealth Trading Co LLC.
866-443-0868 Ext 104
817-717-5489
Fax: 817-764-2537
www.FortWealth.com
Don’t risk what you cannot afford to lose….
2012-08-17 07:59:09
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