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Silver/Gold correct but not the dollar
US$ didn’t get the support it normally gets when the Euro-boys normally act with the trade now down 20.3 trading at 80.830 close to its low of 80.790, Treasuries have reversed and are trading lower across the sector as well. Energy Products have turned positive again after yesterdays bi-polar move with Crude leading the confusion up 61 cents at $96.13 a barrel with the byproducts up as well. Gold is correcting after breaking thru $1,700 for 2 days and is now trading at $1,698.00 down $7.60 with a low so far at $1,691.30, Silver is correcting too being down 32.4 cents at $32.350 after dipping as low as $32.005, the only market in Metals that is trading higher is Copper. Grains are mixed with Corn/Wheat trading higher, Soy and its products are lower, Softs are mixed with Sugar/Coffee/OJ in the positive, Cocoa/Cotton trading lower. Paper Markets are adding to yesterday’s stellar rally in what could be considered the election rally as we see politics being painted (or is it tainted) with broad strokes trying to get everyone to forget how bad the last 8 years have been financially. We expect the metals to correct more after the jobs report is posted a little later today. The metals are normally slammed no matter how bad the jobs numbers are. We will look at re-entering the trade later next week. Enjoy your 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….
2012-09-07 06:48:54
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