Silver and Gold Pop as the BBC claims Russians have entered the Ukraine
US Dollar is up again in the overnight session with the trade at 82.560, up 11.1 points with the excuse this time being that Russian Troops/Rebels have entered the Ukraine. Treasuries are climbing again making us think there is more of an immediate rush to exit the European markets as it’s now being reported that there are shootings between the Kiev backed rebels and the Russian backed ones. It’s hard to believe anything the media says these days as this has been reported before with no evidence being used to back it, so we suggest patience and more observations. The Energy Sector is mixed overall with Crude Oil now at $93.78, down 10 cents with the by-products trying to keep a positive bias as we get closer to the point of no return for the Germans manufacturers. They need Russian Energy and as time rolls by, Winter weather becomes the concern as the US continues its “phuck Europe” attitude as things seem to be spiraling out of control at the moment. Gold is being whipsawed back and forth with the trade now at $1,295.10, up $10.70 with a high so far at $1,296.40. The Open Interest showed some good gains in yesterday’s trade as more and more buyers are coming in. Silver has rallied as well with its trade now at $19.80.5, up 33 cents with its high so far at $19.950 with the overall OI falling a bit yesterday as the rollovers from September to the December contracts continue. The OI in the Sept contract remains at 22,239 (close to Tuesday’s numbers) after yesterday’s reported early morning OI was at 27,253. It seems an entity is/was trying to Pump and Dump the contracts before today’s spike as we are days away from finding out how many tons of real demand there is for the most suppressed market in commodities. Bitcoin has been left behind with its trade at $510, down $12 inside a 24 hour trading range between $523.10 and $502.30. This is the first time in over a year that the Precious Metals has had a strong rally before the Crypto did so we’ll have to see if the Crypto catches up, Ripple Coin is lower as well with its trade at $0.004949. Grains are trading higher, Softs are mixed to flat, and the Live Stock Sector is negative across the board as the US gets ready for its 3 day holiday after tomorrows close. The Paper Sisters are lower as we prepare for the US GDP and Jobs Reports to come out within the hour and as we get more and more data about Russians entering into the Ukraine. BBC is reporting that up to 4,000 Russian soldiers are inside the Ukraine fighting alongside the non-Kiev rebels. There is this giant fence placed in the heart of Britain for a major meeting that was planned for what is left of the NATO committee regarding the Ukraine as it seems that Russia simply went ahead and took action instead of waiting for FUKUS (France, UK, and US) to try another attempt at creating the war it needs to blame the future collapse of the economies of the West. We are reporting the events of the early morning so more time is needed to see if this was simply another BBC bullshit story like our media services give, or if it’s a real event. Regardless, Silver and Gold’s spike seems to have been a surprise event. Still, there is no better place to be than in physical Silver and Gold, with some Crypto-Currencies as another way to get out of the current system. So keep them close and as always … Stay Strong!!
JB Slear
866-443-0868 Ext 104
817-717-5489
Fax: 817-764-2537
Don’t risk what you cannot afford to lose….
There is significant risk involved in trading futures and/or options on futures. Futures and/or options of futures trading may not be suitable for all investors. Investors should consider these risks and evaluate their suitability based on their financial conditions. Past performance is not indicative of future results.
Source: http://fortwealth.com/blog/?p=5866
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