$GLD and $SLV Prices as of September 10 2018 @moneymetals
9:52 AM
September 10, 2018 -- Gold and silver prices wilted last week under pressure from a rising U.S. dollar and a healthy jobs report.
Fed watchers are all but certain the central bank has the needed justification to raise rates again when FOMC members meet once again in two weeks. The trifecta of dollar strength (at least relative to other currencies), expectations for higher interest rates, and low demand for safe-haven assets is pushing metals prices lower.
One or more of these trends will need to be interrupted before prices are likely to recover. Or, perhaps, we will see the large speculators get taught another lesson by the bullion banks who are positioned for higher prices.
The “specs” – aka the speculator category of traders – have amassed a record short position. This sort of extreme in positioning often, but not always, signals a change in direction is coming.
Check out live precious metals prices here:
https://goo.gl/sggYF1
Fed watchers are all but certain the central bank has the needed justification to raise rates again when FOMC members meet once again in two weeks. The trifecta of dollar strength (at least relative to other currencies), expectations for higher interest rates, and low demand for safe-haven assets is pushing metals prices lower.
One or more of these trends will need to be interrupted before prices are likely to recover. Or, perhaps, we will see the large speculators get taught another lesson by the bullion banks who are positioned for higher prices.
The “specs” – aka the speculator category of traders – have amassed a record short position. This sort of extreme in positioning often, but not always, signals a change in direction is coming.
Check out live precious metals prices here:
https://goo.gl/sggYF1
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