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Gold Market Recap Report
Fri 28 Dec 2012 14:26:05 CT
Related Keywords: Metals
Related Keywords: Metals
The gold bulls must think that a stop gap measure that technically averts a full fall off the US fiscal cliff is almost as bad as no deal at all. Some might also suggest that a deal that leaves further spending cut negotiations looming over the market could be seen as deflationary toward gold and other physical commodity markets. The bear camp might also think that a poor deal or no deal will result in a flurry of US economic downgrades for the 1st quarter of 2013 and that in turn might spark some adverse currency market action ahead. In retrospect February gold simply forged a coiling pattern this week and that might increase the odds of some type of range extension next week in prices.
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*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
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