| Log In | Register Now
Gold failed to breach September highs yesterday, and the precious metal is declining as investors snap up the Dollar. Investors are presently making a slight retreat from risk as they await the Fed's monetary policy decision later today. While we expect the Fed to keep its policy unchanged, the potential for a monetary shock always exists. Meanwhile, the EU's PMI data came in negatively mixed today, catching investors a bit off-guard. The disappointing data has resulted in a comparatively weak Euro. Underperformance in the Euro is dragging gold lower since the precious metal has recently experienced a stronger positive correlation with the EUR/USD than the GBP/USD. The S&P futures are hovering around even, and gold will likely remain within a reasonable trading range until the Fed announces its decision. We maintain our positive outlook on gold trend-wise since we are optimistic about the precious metal's correlations over the near-term. Additionally, gold has given us little reason to question the uptrend's technical strength.
Who Is Paul McCartney Trends on Twitter; Users Wonder Why
Dad Shoots Laptop Video Goes Viral on YouTube After Daughter’s Facebook Rant [VIDEO]
Free Edition
TAKE A TOURWe value your privacy. Your email address will not be shared.
