This Trader Prefers To Be Flat Ahead Of Tomorrow
(Kitco News) - Metals consolidate ahead of Thursday's events. The British election, the ECB meeting and former FBI chief Comey's testimony all line up to create a volatile day tomorrow. Gold hit our target of $1,292 and silver managed a print at our $17.75 level. The metals could go either way from here. If Comey's testimony suggests that the President may have obstructed justice in the FBI probe into Russian election hacking, it may derail progress on tax and health reform, which may create issues with the equity market. Should the British elections swing in favor of the Labour Party will Brexit become more complicated? Will Draghi reverse interest rate policy? Enough uncertainty to force this trader into a neutral position. Any major surprises will offer a new opportunity to engage.
By Peter HugContributing tokitco.com
Follow @KitcoNewsNOW
newsfeedback@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities,securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.  |