With commodities in general taking a hammering in the markets at the moment, neither silver or gold have escaped. In the last two days, the dramatic falls in silver, have also been reflected in gold futures, with the June contract trading lower once again overnight on Globex as we test the $1540 per ounce level.
Morning Coffee Break – Tuesday April 2 April what is thought of being a strong month historically began the month and second quarter at a slow snail pace. The Dow and the bulls have look to April as the best month of the year as far back as 1950 with an average 2.7% gain for the month.
Gold continued to trade in a narrow range once again yesterday, with the April gold futures contract closing marginally lower and ending the gold trading session with a narrow spread down candle, closing just below the psychological $1600 per ounce level at $1594.80 per ounce.
Morning Coffee Break – Monday April 1 In today’s Morning Coffee Break we find as traders come to their trading systems after a 3 day weekend and the start of the second quarter have several milestones to build on from record closes on the Dow and S&P 500.
Morning Coffee Break – Wednesday March 27 Today’s Morning Coffee Break is finding U.S. equity futures are indicating a lower open this morning after yesterday’s push higher towards an all-time high of less than two points in the S&P 500.
Gold continued to ease higher once again yesterday, with May gold futures on Globex closing at $1613.80 per ounce, up just over $8 per ounce in the session and ending with a narrow spread up candle, supported by average daily volume.
Gold bugs finally had something to cheer about today as April gold futures finally awoke from their recent slumbers, trading higher in today’s session, and moving to test the $1600 per ounce price level. The catalyst for this modest recovery for gold was from the ECB, with suggestions that inflationary pressure was easing in the Eurozone, but hardly sufficient to spark a reversal in the longer term trend!
Welcomes to today’s Morning Coffee Break – U.S. markets are coming of the largest single day gains since early September. Depending on which analysts have the airways the move was due to an extreme oversold condition while others point to the growing confidence in a deal to avoid the fiscal cliff.
Welcome to today’s Morning Coffee Break – U.S. markets are coming off a beaten up week with last week Friday the only trading session to see all 3 index in the green. The Dow Jones Industrial Average loss more than 1,000 points last week with 5 out 6 days to the downside.
Welcome to today’s Morning Coffee Break – U.S. markets are getting ready for the final session of a losing week. Markets suffered on increasing focus and concern over the looming fiscal cliff. Opinions surrounding the fiscal cliff differ from one extreme to the other.
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