In retrospect, action in gold this week has been very impressive as the market has held its ground in the face of periodic and significant outside market headwinds from the flow of periodic higher treasury yields and a consistently strong dollar which might have shifted back into an uptrend.
However, the Middle East flight to quality factor remains in place, and with US airstrikes in Syria, residual fear of the launch of a ground war, possible terrorist attacks inside Israel, or signs that the Palestinians get military aid from Arabs.
Estimates for the core month-over-month PCE report call for an uptick from the prior month which should provide the dollar with support to finish the trading week in conclusion in a vacuum of financial market influences gold and silver could be formal to liquidation...[MORE]
Please subscribe to receive the full report via email by clicking here.
