The
DJIA crossed the 16000 mark for the second time this week during
intraday trading, but fell .4% after the Fed minutes were released
yesterday afternoon. Officials have indicated that tapering is coming in
the next few months if economic
data meets expectations. Investors are not concerned if tapering is
coming, but are more concerned of when it will indeed happen. St. Louis
Fed President James Bullard mentioned a solid November jobs report would
increase the possibility of the Fed paring
its bond purchases at next month’s meeting. Gold hit a four month low
of 1,240.69 yesterday as nervous investors were in a sell off mode.
Silver fell through its $20 level after 3.5 months putting additional
pressure on the metal this morning. Platinum hit
a new one month low yesterday of 1391.70. The PPI (MoM) for October
fell .2% and the initial jobless claims fell by 21,000 with a figure of
323,000 from the previous week’s claim of 344,000. Palladium is the only
metal trading in the positive territory at
the moment. Have a great day!
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