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Gold/Silver rally as the dollar continues to get overseas support
US$’s seemingly endless support carries on with the dollar being rebounded and is trading once again at 80.040 up 5.3 points after 2 days of negativity supposedly because no one was trading during “Sandy’s” dance on the east coast, Treasuries are still range bound with Eurodollars trading higher, Notes/Bonds moving lower. Gold is up for a second day in a row which is amazing especially during this election period with the trade now at $1,725.0 up $5.90 with a high so far at $1,726.10. Silver has gained ground as well with a current price of $32.550 up 23.4 cents and is the virtual top so far in this early morning report guiding the rest of the sector higher. Grains are all trading in the positive, Live Stock Sector is mixed with Live/Feeder Cattle trading lower, Lean Hogs moving higher. Softs are mostly ignoring the dollar support by trading higher with Orange Juice it’s only exception, Paper Markets are trading in the positive as we see the support come in an hour before the New York markets open. I can hardly wait for next week, I’m getting tired of the puppet show called the US Presidential election where both candidates continue to lie endlessly to win people’s votes. My hope is we see the metals become unleashed from its 2 month prison sentence of sideways to lower movement ….. 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….
2012-11-12 17:00:34
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