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Consolidation Until Further Evidence Of Nature Of Fiscal Policy

Discussion in 'Gold Silver (All things Metal)' started by Scorpio, Jan 7, 2017.



  1. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    Consolidation Until Further Evidence Of Nature Of Fiscal Policy

    Friday January 06, 2017 10:45

    (Kitco News) - The employment data was a non-event for the metals today, but the drop in factory orders, albeit a possible temporary event, created some modest buying in the complex. Gold is digesting the recent $40 pop from the December lows but is struggling to maintain momentum. We almost got to our target of $1,192 yesterday, but profit taking overnight ahead of this morning’s numbers created a modest pullback. The metals will be directly affected by dollar movement and the dollar may remain in a somewhat tighter range until there is more clarity on fiscal policy. Would look at the $1,165- $1,182 range until further clarity is provided. A break of either side will create momentum.

    By Peter Hug, Kitco Metals Global Trading Director; phug@kitco.com





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    http://www.kitco.com/commentaries/2...ther-Evidence-Of-Nature-Of-Fiscal-Policy.html
     

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