Monday, November 18, 2013
A quiet morning in the commodity markets with metals trending slightly lower.
A quiet morning in the commodity markets with metals trending slightly
lower. Gold and silver tested the $1275 and $20.50 respectively this
morning and found decent support on light trading volumes. Global equity
markets are also taking
a wait and see attitude after the record run up in the US Equities last
week on Fed Chairwoman Yellen’s Senate confirmation hearing in which
she pledge to continue QE until significant better US economic data.
Markets will be waiting for more data later this
week on US CPI, retail sales, and existing home sales on Wednesday.
Traders will also be watching the FOMC meeting minutes to see if there
are any clues about potential Fed tapering talk for December or into
2014. We sense hesitance on the part of traders
to commit fresh capital into establishing a new position while metals
are treading within the current trading ranges. Thanks.
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