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Home / Futures Blog / Kurt Pfafflin Discusses Precious Metals Markets and Currency Devaluations with The Wall Street Journal/WSJ.com

Kurt Pfafflin Discusses Precious Metals Markets and Currency Devaluations with The Wall Street Journal/WSJ.com

September 28, 2012 by Daniels Trading

Daniels Trading Senior Broker Kurt Pfafflin was quoted in The Wall Street Journal/WSJ.com article titled “Comex Gold Eases to End Week Nearly Flat.” The article recaps the price performance of the Gold and Silver futures markets denominated in various currencies such as the US Dollar, Euro, and Swiss Franc. The US Federal Reserve’s recently announced “open-ended” Quantitative Easing program, concerns about a weaker Euro currency, and expectations involving a Spanish credit rating downgrade/ ECB bailout programs fueled record-setting all-time highs in the Euro and Swiss Franc as some investors believe gold and silver to be safe havens that may protect wealth against inflation that could follow monetary easing.

We’re going to see competitive currency devaluations continuing,” describing potential effects of easing measures being implemented all over the globe by central banks (US Federal Reserve, European Central Bank, and Bank of Japan). “The prime beneficiaries are going to continue to be the hard assets, the precious metals,” said Mr. Pfafflin.
 
While Gold priced in Euro and Swiss Francs recently hit record highs, a new high in US Dollar terms has yet to be attained. Mr. Pfafflin said, “We’re going to knock on that door again in the dollar.

Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

Filed Under: In The News

About Daniels Trading

Daniels Trading is an independent futures brokerage firm located in the heart of Chicago’s financial district. Established by renowned commodity trader Andy Daniels in 1995, Daniels Trading is built on a culture of trust committed to the firm’s mission of Independence, Objectivity and Reliability.

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Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

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