Some bank is going under? Precious metals futures are up strongly in the morning today. Gold futures are up 1.75% while Silver futures are up 2.4% as of now.
Expecting a surge in GDX and HUI today as they take out current resistance at 42 and 610 respectively.
The Greek tragedy is now in Act unknown, and the drama has not yet ended. European banks are on hook, and thee is no way out except a default. Let it happen, Europe, and get over it Europe.
Dow futures at 11607 with the low at 11534 when Europe weak manufacturing numbers came in. So a healthy move up from the lows.
Gold futures are consolidating around 1800-1850 level. And Silver futures biding time around
So much for the past 3 days sell off in gold. The gold futures just thrusted past 1800 while the equity indices rise to resistance on vapor volume again.
My fav gold stock, RGLD, at another all time high.
Dow Jones futures are down -84 before the open at this time. Gold and silver futures up 1% and 1/2% respectively. Banks remains under pressure.
As Gold futures sit comfortably above $1900, and targeting $2000, perhaps this week, those who are long spam and short gold may want to consider unwinding that trade at this point those who are long USD and short gold may want to consider unwinding that trade at this point.