MAY 23 GOLD MARKET ALERT
Yesterday was a particularly volatile and interesting day on the precious metals market. The sector moved slightly higher, then it soared, stayed high for several minutes and crashed. Stocks did more or less the same and the USD Index did the opposite. The likely reason? Comments from Ben Bernanke who said the Fed could decide to scale back the pace of bond purchases at one of the "next few meetings" if the economic recovery looked set to maintain forward momentum.
So, what happened was markets discounted the information about the possible tapering of the stimulus. Will the Fed really decrease the Quantitative Easing? Actually, it could. The Fed has actually been quite good in making people believe that you can really get away with creating money out of thin air...
The above is the first part of today's Market Alert. The following part includes our trading plan for the coming days/weeks, target levels and stop-loss levels. If you'd like to read it and then continue to receive our premium analysis, please log in or sign up for the free trial of our Premium Service.
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