WEEKLY MARKET DIGEST: GOLD APPROACHES RESISTANCE AT $1320 AFTER BAD INDUSTRIAL PRODUCTION NUMBERS $GLD $SLV $USO $DIA $SPY $QQQ $TBF $TBT
(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers. )
GOLD APPROACHES RESISTANCE AT $1320 AFTER BAD INDUSTRIAL PRODUCTION NUMBERS
February 14, 2014
January Industrial Production fell to -0.3% compared to consensus of +0.3%; Capacity Utilization for January came at 78.5% vs. consensus of 79.3%. These are very bad numbers.
Gold is encouraged by these bad numbers and now is approaching the resistance of $1320 to $1325.
Oil is falling on these numbers so are interest rates.
In early trading stocks are mildly negative.
Gold futures are at $1318, silver futures are at $21.16, and oil futures are $99.77.… Please click here or the title below to read more.
February 15, 2014