Market Insights
By Walter Pehowich
December Gold broke thru the well-supported $1,073 area yesterday, reaching a 5-year low. For those who are short the yellow metal, they all await the Wall Street trader’s next technical level of $1,050 to be tested.
On the other side of the ledger we all await the FOMC minutes to be released this afternoon to hear if they give any clues that would indicate that a rate hike in December is a done deal. Silver finally catching the falling knife that Gold experienced of late, trading this morning down to $13.99 in the December contract, just above the next level of support at $ 13.95. Silver coin demand continues to moderately increase along with the premiums.