By: Phillip Streible
Weekly Gold Focus – Gold futures are starting to get some wind behind its sails after news that Greece is struggling with bailout terms, and fresh austerity measures are being met with resistance. France is also rattling the European Union’s cage with far-right leader Marine Le Pen reiterating that her party is committed to pulling out of the EU and restoring the Franc as the country’s official currency. This type of “FREXIT” news could dismantle the EU and Euro currency, sending gold to the next level. Gold has also maintained its strength with U.S. and global economic data improving. Generally, this type of data puts pressure on gold, but uncertainty surrounding Trump’s policies has caused some investors to exit the equity markets and voice concern leaving the FED between a rock and a hard place. The next FED meeting is March 15th, and if the FED decides not to raise rates and gives a dim outlook, this could have a big impact on gold.
Now, it’s important to be able to identify these types of events and be able to come up with a strategy ahead of time. I always keep a commodity calendar and monitor RJO’s Market Insights to stay on top of important global events. If you haven’t ordered a complimentary 2017 Hightower Commodity Trading Guide & Calendar, we have some of them available to send out now. This is your “go-to” resource for Government & Industry Report Dates, Futures and Options Expiration Dates and more than 350 charts and graphs. *Available to U.S. residents only.
By: Phillip Streible
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