The Phaserl


Gold showing more signs of Resiliency

from Dan Norcini:

Gold was under pressure for most of the session today as the weakness in crude oil and most of the commodity sector – some of which was related to news out of China that their authorities were forcing curtailed manufacturing production – tended to undercut any inflation fears.

After the close of the pit session when the only thing that was open was the screen trade, the metal slowly garnered additional strength and began pushing higher. As I type this, it is now $4.00 higher on the day, a push of some $11 off the pit session close.

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