US Dollar continues to get the old paradigm traders attention when reports of war come into play, US$ has been rallied again overnight with the trade at 81.220 close to its top of 81.310, Treasuries are being reversed with the majors buying up the Eurodollar positions and selling further out years, we expect this to continue for another few weeks before Eurodollars trade lower. Petro Products benefit from the rumors of war as well, but gets confusing when people listen only to media and not to the Currency Wars, Crude is higher by 34 cents and is trading at $99.85 after the beating in yesterday’s push down. Gold has been hammered once again with the trade at $1,528.00 after hitting another new low of $1,523.90, Silver is just as bad with the trade at $26.345 down another 88.9 cents with a current low of $26.145, leading all metals lower as well. Grains/Softs/Meats are mixed with most trading lower and our Paper Markets are trying their best to close above last year’s settled price. This shift is a tough one, no doubt, no different than a cornered wild animal who knows the end is near and will fight to the bitter end, that I applaud, but the simple fact in all of this is every single nation on this planet is demanding a currency exchange that has real backing and that cannot be watered down because of the irresponsible. We have history when it comes to currency failures, one was in Egypt, as written in the Bible. Re read Genesis (the starting of the currency failures) when the money was no longer of value, after Jacob (a slave(?)) interpreted the King’s dream. We have another day before the new year and I would expect January to be the starting point of real tension both in the markets and in the rearrangement of borders in the middle east, regardless the events, Precious Metals are the ONLY safe haven out there regardless of the day to day manipulations …… Stay Strong!!
Fort Wealth Trading Co LLC.
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