Metal Markets Report For Tuesday, Oct 7
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In this video, Ira Epstein discusses the current state of the metal markets, highlighting the unusual behavior of gold, which has reached $4,014 despite a stronger dollar. He notes the recent dollar increase typically correlates with a decline in gold prices, suggesting other factors are at play.
Epstein also covers the decline in silver, copper, and platinum, mentioning potential stabilization as entry points for traders. He provides insights on upcoming economic data releases, such as the Mortgage Bankers Association numbers and FOMC minutes, and analyzes consumer credit figures, noting a pullback in consumer spending.
Epstein concludes by examining technical aspects of the gold and silver markets, pointing out challenges for traders in setting stop levels and anticipating market corrections.
Video Length: 00:05:33
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