Market Commentary – July 7, 2014 The metals started in week in quiet fashion today, with indecision as to where next take the market in light on little outside influences impacting gold trading today. A range bound session in Asia and most of Europe, opening at $1316and slipping on a little bit of long weekend liquidation, falling to $1312 before rebounding back to $1315 as New York opened. Not much more activity ensued during most of the North American day, trading in a summer like $1313 - $1316 for most of the session. A spark of buying in the last two hours lifted gold to finish the day on its high at $1320. Eyes are on the FOMC minutes later this week for insight about the future path of U.S. interest rates. Michael Mikolay Disclaimer – Statements of news and current events on this web site, and financial, economic, political and market information on this web site (individually and collectively “Content”) are not intended to and do not constitute investment advice and are not intended to and do not constitute a prediction of the future course of the economy or the market for precious metals. The accuracy, completeness, adequacy or currency of the Content is not warranted or guaranteed in any way. Your use of Content on this web site or materials linked from this web site is at your own risk.
Posted on: Tue, 08 Jul 2014 01:07:01 +0000