US$ continues to get overseas support with the trade at 82.490 down 5.8 points after yesterdays miraculous recovery from being down over 60 points at one time before the miracle occurred, it must be God’s work. Treasuries are showing negativity across all years, it may be that there are too many markets that need support and only so many digits to work with, the exposures are popping up everywhere. Energy sector continues its bipolar run as well with Crude oil trading back at $82.50 a barrel after running as high as $86.64 in the Monday trade confusing the rest of the sector into compliance. Gold is down $5.40 with the August Gold contract trading at $1,591.50, again close to its low of $1,586.40, Silver is down only 12.60 cents with the July contract trading at $28.490 with its low of $28.315, the rest of the sector is held down as well. Grains are mostly higher with Corn/Oats/Rice trading flat to lower, Softs are mostly higher as well with the Coffee/Sugar the exceptions, Meats are all trading higher with the Paper Markets trading sharply higher in the early morning/overnight trade review. Please consider idea that the Volker rule is in place already, but it’s not the controlling mechanism we think is working. Mr. Volker claimed his only mistake in the 1970 & 80’s was that he didn’t control the price of Gold enough, it’s obvious that its movements have been controlled to the point of absurd this past decade. With all the banking events happening around us we should really consider this to be a Godsend because those that realize the failures of many more banks, Gold is still very cheap …… Stay Strong!!
JB Slear
Fort Wealth Trading Co LLC.
866-443-0868 Ext 104
817-717-5489
Fax: 817-764-2537
www.FortWealth.com
Don’t risk what you cannot afford to lose….