The gold markets have found a lot of support recently, mainly because of various debt issues on both sides of the Atlantic. The reality is that the market is somewhat held hostage by the wheeling and dealing coming out of D.C., and when the debt limit deal is finally agreed upon there will more than likely be a selloff in this commodity. It has sold off every time there is even a hint of an agreement, and rebounded every time there has been a denial of the agreement. Because of that, the market has already shown its hand. We are waiting to have the agreement announced, and then will be buying the selloff.
No comments:
Post a Comment