Traders eye stimulus talks for clues on Gold & Silvers next big move [Video]
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With just three weeks to go until Election Day, uncertainty over another U.S fiscal stimulus deal remains the primary driver for precious metal prices.
Currently gold and silver are trending sideways – presenting traders with lucrative back-to-back opportunities to trade the range.
On the stimulus front, the saga continues with U.S Treasury Secretary Mnuchin saying the Republicans and Democrats are still far apart on a deal. However, the Republicans are not giving up with U.S President Trump pressing policy makers to get a deal done.
Either way, traders are convinced that more U.S. stimulus is on the way, even if it may not be unveiled until after the November 3rd election.
The only question now, is how much stimulus will be passed and when.
Expect higher than usual volatility over this next quarter, as we enter a very exciting and event-driven period.
Where are prices heading next? Watch The Commodity Report now, for the latest price forecasts and predictions:
Author
Phil Carr
The Gold & Silver Club
Phil is the co-founder and Head of Trading at The Gold & Silver Club, an international Commodities Trading Firm specializing in Metals, Energies and Soft Commodities.
