GDP DATA NEGATIVE FOR GOLD AND SILVER
This post was just published on ZYX Buy Change Alert
Gold and silver have been running up on anticipation of the Fed easing and stimulus from the ECB.
The strong GDP number released at 8:30 am EDT makes it difficult for the Fed to ease at this point. Q2 advance GDP came at 1.5% vs 1.2% consensus. Q1 GDP was revised up to 2.0% from 1.9%. These numbers show that American economy is stronger than generally believed.
Today is Friday and bulls are hoping that ECB will make some kind of announcement before our markets open Monday morning. This optimism is providing some strength to gold and silver.… Please click here or the title below to read more.
July 27, 2012