Well the USSA puts up dicount window interest rates 75BP and thats enough to casue alot of the Carry Trade to unwind and send FX markets into a tail spin.
IMF announces pending Gold sale
GReece and other Goldman Sachs problems all add up to a near term outlook that does not look good for NCM and the Gold Sector.
These bits of news and Data are probably going to drain alot of liquidity, casue forced selling in markets and cause a rush to the US dollar,,,,,and as a result pull down GOLD and other commodites near term..
Trade safe and wait for it to blow over imo, new range seems to be 31-33 but any sudden move down in POG may casue a belting as the shorts move in to ingite FEAR....
Hoping market will bounce after Tuesday next week,,DOW futures looking ugly.....
NCM Price at posting:
$31.75 Sentiment: ST Sell Disclosure: Not Held
