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Open Interest in Gold/Silver hasn’t changed since the hit
US$ is still trading at a lofty height of 80.750 which happens to be down 9.3 points from the close of Monday, Treasuries are still in a very tight trading range as we enter the final day of the presidential election. Energy Sector is steady with Crude Oil at $86.13 a barrel up 47 cents a barrel as we start to hear about Israel’s leader saying he can attack Iran at any time. Gold is recovering nicely with the trade adding a second day’s value with the market at $1,692.50 up $9.30 after that Jobs report attack on Friday. Silver is recovering as well with the trade at $31.380 up 25.2 cents, what we find most bullish is the attack on Friday only netted an open interest change of 26 contract in Silver with Gold’s Open Interest changing by 1358. This is the most bullish of data out there because it shows the resilience the bulls have at these prices. Grains are adding value across the board, Live Stock Sector is flat to slightly mixed, Softs are all trading in the positive as well as the paper markets. Everything is fine during the election period and many can hardly wait to get back to reality from all the lies that have been spewed out by both parties and the remembrance of how Ron Paul was pushed out of the elections by nefarious means. Ron Paul was the only candidate that spoke about the debt problem in the USA, while the others looked weak and unable during the debates. Regardless who wins, the problems are still here and are getting worse. When reality finally hits the drug induced general public, there will be hell to pay, especially if one doesn’t hold Silver and Gold which will make the landing a bit smoother … 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 17:00:36
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