Profit Confidential’s George Leong explains why it still looks too early to get overly excited about gold.
The Dow has closed below 15,000 after the Fed minutes suggested tapering is a given with only timing and quantum the unknowns. Dow down 105. (Accessible only for subscribers before 10:15 AEST)
The S&P rebounded last night while the Dow hangs perilously above 15,000, down 7 on the session. (Accessible only for subscribers before 10:15 AEST)
The rush to exit US Treasuries continued last night, again weighing on stock markets. Dow down 70. (Accessible only for subscribers before 10:15 AEST)
This week ATW’s Jerry Simmons notes the US dollar is in bearish mode but could reverse. Gold is nearing resistance.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
The “good news is bad news” dam broke on Wall Street last night despite mixed data and weak corporate outlooks, setting off the inevitable “summer swoon”. Dow down 225. (Accessible only for subscribers before 10:15 AEST)
Jonathan Barratt of Barratt’s Bulletin remains longer term bullish on gold despite tapering given inflation expectations.
Not everyone believes the Fed will begin tapering next month, but enough do, sending Wall Street drifting south. Dow down 113. (Accessible only for subscribers before 10:15 AEST)
An up and down day on Wall Street featured a suggestion from a Fedhead initial tapering would be mild. Dow up 33. (Accessible only for subscribers before 10:15 AEST)