The Dow took a nice hike upwards on the back of Hillarys perceived victory over Trump in yesterdays live debate. Having watched some of it I felt she displayed a genuine political pedigree against someone who has been an extremely effective battering ram up unto this point but when placed under the glare of one on one seemed genuinely threadbare of ideas and totally bereft of the finesse to communicate and the knowledge to implement them. Looks like I wasn't the only one.
On the back of this and the highest consumer confidence reading in the US since 2007 gold went down faster then Monic......, well lets just say that gold finished down $1327 US. Sorry Jim - we need you back. Just to compound things for Aussie gold miners our dollar went up and is lately trading at 76.66 cents.
And Donald......, the Peso bounced 2% higher mate. Maybe its time to buy shares in Taco Bell.
Oil dumped again overnight on the back of more bickering ahead of the OPEC meeting on Wednesday with the Saudis and the Iranis apparently not making the noises people are wanting to hear. In fact Iran underlined their intent to pump higher. Good one guys. Why do these guys even have meetings? For the camel jerky and the candied dates...?
The base metals gang: Copper -1.12%
Nickel +1.14%
Zinc +1.29%
Nickel still going up on the back of supply threat over environmental concerns in the Philippines. Locally this has affected the shares of OceanaGold.
Can't find an Iron Ore price, sorry folks.
Locally we didn't manage to end green after yesterdays debate and lately futures have us minus 6 but not really anything more then idle chatter by the indices. Markets seem calmer and it seems they feel they've found an earth mother in Hillary , whatever it is we are in a sweet spot with the specs at the moment as some of the hard running mid caps perhaps take a bit of breather and the lower end plays catch up with multi day runners.
Just to compound things for Aussie gold miners our dollar went up and is lately trading at 76.66 cents.
