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Gold and Silver start lower but turned positive anyways!!
US$ is starting to lose that central banker support again as we witness a strong turn around in the metals after the Sunday night attack ended with the dollar now trading at 79.565 down 12.3 points after reaching as high as 75.745, Treasuries are generally weaker with Eurodollars flat with Notes/Bonds lower. Energy Sector is recovering as well with Crude Oil up 60 cents with the trade at $90.62 leading the rest higher. Gold was hit pretty hard in the Sunday night trade going as low as $1,714.40 but is now trading at $1,727.20 with a $3.20 positive handle, Silver is following Gold’s lead with a climb from a $31.70 trade and is now at $32.260 up 16.3 cents, Copper is flat at the moment. All Grains are trading in the positive with the Livestock market closed till the Chicago open, Softs are mixed with Cotton/Cocoa/OJ lower, Coffee/Sugar moving higher. Paper Markets seem to be recovering at the moment as well in what can only be called a no reason rally because of the virtual lack of news coming out during the weekend inside the 3rd quarter profit release period. We find things very odd at the moment as well since the Citigroup CEO walked off without a reason 2 weeks ago. Maybe there’s a connection to a turning point in that stymied story … 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….
2012-10-22 09:00:33
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