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Election is over with the US Dollar & Gold rallying – Silver hit again
US$ is now trading higher with the current price at 80.945, 2 points from its top as we also see the US Treasuries trading higher when there are no real buyers. Energy Sector is trading sharply lower against the dollar move with Crude Oil now at $87.39 down $1.32 pushing the rest of the sector lower as well. Gold is trading higher at $1,720.00 up $5 dollars yet Silver gets hit being down 7.4 cents with the trade at $31.955 after trading as high as $32.42 during the European Session pushing the rest of the sector lower as well. Grains are mixed with Corn/Wheats trading higher, Soy Bean/Meal/Oil/Oats moving lower, Livestock is mixed with the Live/Feeder Cattle moving higher, Hogs trading lower. Softs are mostly higher with Sugar/Cocoa the exception, Paper Markets are sharply lower as we’ve finally come out of the fiasco called the US Presidential Election. With the vote being so close the courts will eventually make the decision in what is now being called a gridlock. Regardless of all the drama being cast by the Talking Heads from the living room Cyclops, nothing is being done about the deficit or debt settlement, which is what we predicted months ago. How long will it take for the courts to decide the winner? is still part of this melodrama. In the meantime, many foreign investors should start to doubt how much US Treasury Debt is good for their portfolios and maybe start to realize that the precious metals are a far safer bet than the promise not to default while the devaluing of the currency occurs. The next few weeks should be very interesting and should be beneficial to the precious metals ….. Stay Long and 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….
2012-11-12 17:00:36
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