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Precious metals, especially gold and silver, have held key support levels all week as rising tensions between Russia and Ukraine has brought us an increase in global physical demand while paper traders with short positions have likely bought some of those positions back.
Precious metals, especially gold and silver, have held key support levels all week as rising tensions between Russia and Ukraine has brought us an increase in global physical demand while paper traders with short positions have likely bought some of those positions back. Gold has traded into the mid $1,290.00s and silver the $19.90s, but a continuation of USD strength and good U.S. economic data has so far prevented further gains.
This morning finds that the U.K. has raised their terror alert status to a level that would indicate they believe a terrorist event is likely. As I finish today’s commentary, Prime Minister Cameron is scheduled to give a press conference shortly to discuss the threat further and the terror group ISIS. Failing any new headlines today, it may still turn out to be a good trading day as month-end positioning could bring volatility.
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