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Open Interest keeps gaining in Silver and Gold
US$ is still held at the lofty price of 81.055, up 5 points but way off its high of 81.30 in the late night session, we expect this to come undone during the 4th quarter currency rollover due next month. Treasuries are flat to lower across the board with no sign of the Federal Reserve’s reversal of continued purchases. Energy Sector is up with Crude Oil at $87.75 up $1 after Hamas claimed they were near a peace agreement yet Israel kept saying no there was no agreement, Israel wants a war and the waiting till after the election (in the US) is the evidence most will point to. Gold is trading at $1,727.20 up 3.60 close to its high of $1,728.40, Silver is higher as well with the trade at $33.06 up 13 cents as we continue to witness the open interest in both precious metals gain. This means more buyers are coming into the markets to take on the 2 very large short traders at these low prices. This is where the epic battle is when it comes to the currency wars many have read about over the past few years. Too many countries are claiming Silver/Gold are real money, we’re to the point where the G20 can no longer argue against it. Grains are all trading higher, Live Stock sector is mostly higher with Lean Hogs the only exception, Softs are always mixed with Coffee/OJ trading higher, Sugar/Cotton/Cocoa moving lower. Paper Markets are confused with S&P trading lower, Dow Jones moving higher. Tomorrow is Thanksgiving here in the USA but the rest of the world is still trading. There is a possibility that the metals can be pushed lower when the US traders are out on holiday. Fort Wealth, of course, is always open. When it comes to your money, we feel you should be able to access it when as the world trades. If your firm doesn’t feel this way, give us a call and step away from the dark side. Happy Holiday America, and as always …. 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….
2012-11-21 12:41:33
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