The driver for the Gold market currently seems to be sentiment! The safe-haven aspects of the metal may have been a boost for the Gold, but will it be enough to propel it to further uptrends.
The Gold has bounced after the awaited Fed rate hike. It is unusual that Gold would trade up as the Crude Oil continues to slide.
Anyone who has been following Turner’s Take for a considerable amount of time (I started writing this particular newsletter since 2008) knows that as we have more macro-economic uncertainty, I tend to scale back on positions. For now we are in a wheat bear spread and a natural gas bull spread and that is fine… Read more.
From the overnight session the December 30-Year Bonds are up 23, the December Ten Year Note is up 10.5, and the five year note is up 6.5.
Gold prices rose as Asian markets reopened after a week-long holiday.
The English pound slipped in value on Tuesday against the U.S. dollar as the Bank of England chief prepares to present quarterly inflation data later this week, according to Bloomberg.