US Dollar is trading lower at 80.250 down 10 points after hitting a low of 79.955, Treasuries are back in normal swing with the Eurodollar lower and the back years supported. Petro Products are on the verge of breaking thru $100 again with the trade currently at $99.38 a barrel leading all energy products higher. Gold is at $1,615.70 up $2.10 with a high so far at $1,618.60, Silver is trading at $29.395 up 14.6 cents after reaching an early morning high of $29.685, Copper is stronger as well however, Palladium & Platinum are trading lower. All Grains/Softs/Meats/Paper Markets are trading higher (with Cocoa the exception) in our early morning trade report …. rumors are swirling around the pits that major buyers (think China and other majors) now circumventing the exchange system to buy their physical Gold/Silver directly from the refiners and miners without the banker clauses that seem to do nothing but screw the miners into the ground. If this rumor has a thread of truth to it, these buyers are soaking up all the exchanges precious metals and drying up the pipeline as well, could be very interesting in the exchanges price discovery eh? …. Stay Strong!!
Fort Wealth Trading Co LLC.
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