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Dollar falls as the metals gain strength and open interest
US$ lost all of the support given in yesterday’s attempted rally as the trade is now at 79.445 down 36.5 point close to its low of 79.420, Treasuries are still in support mode but Notes/Bonds are starting to show some liquidation at present. Energies seem to have found their sweet spot as the market refuses to move one way or the other, Crude Oil is still trading at $92.11 a barrel with the rest of the sector being held up as well. Gold has recovered some of its loses from yesterday’s trade with the market now trading at $1,745.00 up $7.40 – 80 cents from its high, Silver is up as well with the trade at $33.01 up 26.7 cents with a high of $33.075 with the rest of the sector trading higher as well. Grains seem to be responding to the falling dollar as all food products are moving higher, Livestock sector is mixed with Live Cattle higher, Feeders and Lean Hogs lower. Softs are mostly higher with OJ the only one trading in the negative, Paper Markets are still climbing as we enter into Tuesdays trading in the USA. Yesterday’s attack on the precious metals showed open interest increases which means not many traders cleared their positions. That means buyers are still willing to take on the 2 super shorts who have been trying their best to keep the metals from taking off which would upset all those computerized algorithm traders and the currency markets by exposing the real problem with the current fiat debt based currency system. Many are waiting for March Options in Silver and February Gold to come down a little bit more before buying in again as many are thinking the markets will lose its controlling system days after the election. Of course time proves all things as we watch…. 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….
2012-10-16 15:10:15
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