Phil Carr
The Gold & Silver Club
Summary
Join professional traders Phil Carr and Nik Kalsi of The Gold and Silver Club LIVE as they analyse the commodity markets and identify highly profitable trade set-ups on Gold, Silver, Oil, Natural Gas & the Commodity Currencies. This week on Wednesday, Gold Prices slipped to a three-week low, following the highly anticipated FOMC Statement, which signalled the Federal Reserve could hike interest rates in 6-months after the current bond-buying program ends. By Thursday, Gold prices fell to a low of $1320 an ounce, during Gold biggest one-day sell-off in 3-months, which presented commodities traders with a highly lucrative sell short opportunity. Overnight Gold price were back above $1330 an ounce as bargain hunters stepped in to buy on the dip. On Wednesday, the FOMC announced they would taper monthly asset purchases by a further $10 billion to $55 billion-a-month, which the markets expected. However the FOMC shook the financial markets by announcing an upward revisions to its benchmark interest rate forecasts. The market become nervous on the prospect of rates being raised as early as March 2015 – something traders were not expecting. Based on the current pace of taper, the Fed predicates – its bond-buying program could be completely unwound by October. The USD surged following the FOMC Statement, which in turn has been a bearish for the Precious Metals. The big question now is: Will Gold price make a comeback or continue to fall next week? Watch Phil and Nik as they review the commodities markets, analyse charts in real-time and provide a trading plan for the week of 24 – 28 March 2014.Latest Live Videos
Editors’ Picks
AUD/USD risks a deeper drop in the short term
AUD/USD rapidly left behind Wednesday’s decent advance and resumed its downward trend on the back of the intense buying pressure in the greenback, while mixed results from the domestic labour market report failed to lend support to AUD.
EUR/USD leaves the door open to a decline to 1.0600
A decent comeback in the Greenback lured sellers back into the market, motivating EUR/USD to give away the earlier advance to weekly tops around 1.0690 and shift its attention to a potential revisit of the 1.0600 neighbourhood instead.
Gold is closely monitoring geopolitics
Gold trades in positive territory above $2,380 on Thursday. Although the benchmark 10-year US Treasury bond yield holds steady following upbeat US data, XAU/USD continues to stretch higher on growing fears over a deepening conflict in the Middle East.
Bitcoin price shows strength as IMF attests to spread and intensity of BTC transactions ahead of halving
Bitcoin (BTC) price is borderline strong and weak with the brunt of the weakness being felt by altcoins. Regarding strength, it continues to close above the $60,000 threshold for seven weeks in a row.
Is the Biden administration trying to destroy the Dollar?
Confidence in Western financial markets has already been shaken enough by the 20% devaluation of the dollar over the last few years. But now the European Commission wants to hand Ukraine $300 billion seized from Russia.