Gold has rebounded sharply this AM and run right back into a strong level of selling resistance noted on the price chart. If the bulls can push through this region, they stand a very good chance of taking the market to the $1780 level.
What more can you say that "RISK ON" is in vogue today. WAX ON; WAX OFF; RISK ON; RISK OFF.
Wanna know why Silver is so strong today? Look at the following chart of the CCI. Yep, Risk on.
Home Sales Data uptick has copper bulls giddy with delight.
Today is "BUY EVERYTHING IN SIGHT" Day.
Tomorrow, who knows?
The best way to maximize a return trading the price of gold is by trading it with an online trading platform.
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Witness the complete collapse in crude oil, with gold following, after some Fed Head last night started mentioning "containing inflation expectations".
ReplyDeleteNever before in world history has Central Banking been so easy.
Any whiff of commodity price inflation can be instantaneously "whipped" with mere words.
Looks like bonds are still strong also, with munis leading the charge.
Bernanke has created a "Nirvana" financial environment:
- Stocks well bid.
- Interest rates at record lows.
- Commodity inflation stopped dead in its tracks.
Any wonder why retail stocks have been outpeforming the last 3 years?
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