With a definitive upside breakout extension in the #dollar to the highest levels since March 27th this morning the downside pressure in gold and silver is expected to extend today.
Strength in the dollar is likely the result of emerging hawkish views toward the US Federal Reserve stance in the June 13/14th FOMC meeting.
While reports of progress on the debt ceiling negotiations lower the prospect of default, until an actual deal is inked traders should fear a breakdown in talks and a last-minute drama of some sort...[MORE]
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