On the Commodities Front: Gold, Silver, and Crude Oil
In the overnight trade Gold futures rallied to a new all-time high of 1923.70 oz, on news that the Swiss National Bank pegged the franc to the euro, and concerns about the state of the Global economies.
Support for futures faded there on profit taking, and Dec Gold closed with a 0.1% loss at 1872.30 oz.
Dec Silver shed 1.2% to finish at 41.87 oz, was not included in the flight to safety; futures traded in negative territory all during the session finishing just above lows of 41.60 oz.
Oct Crude Oil rallied into the close for about 2 pts, that helped recoup losses. Despite that rally, Crude Oil was unable to trade into positive territory and finished off by 0.5% at 86.02 bbl.
Oct Nat Gas rallied for 1.8% to close at 3.94 per MMBtu
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.