Gold pulled back a touch as market traders appeared to take risk off the table ahead of today's auctioning off of Greek 6 month and one year bills. It would appear that the $1,150 level is providing some support, so with a big week ahead for economic releases, it will be interesting to note if we see a move higher to the $1200 level, or a move back down closer to $1,100.
Gold & Silver
- Alcoa kicked off the US earnings season, releasing numbers after the closing bell in the US. The results were mixed.
- Goldman Sachs lowered their 2010 forecast for gold prices to $1165 an ounce, and $1350 in 2011
- Euro traders should note that tomorrow sees the release of CPI numbers from both Germany and France
- Market watchers should note that tomorrow sees the release of the Beige Book
- The Dow closed over the 11,000 level last night for the first time in circa eighteen months
Major Economic News
US TRADE BALANCE (FEB)