Today's Gold session traded a technical $12.50 range. It appeared that traders were a tentative around the $1255.00 plus levels and took some profits prior to the economic data due out tomorrow morning. Gold traders are also concerned about the possibility of a strike by the National Union of Mineworkers in South Africa. South Africa is the number two Gold producer second only to China.... Traders are looking at a possible supply and demand issue....
Once again the Gold and U.S Dollar are coupled as the inconsistency of the Euro is fueling Gold / U.S Dollar strength. Gold ended the month of August higher by 5.6%....
During a Television interview Philadelphia Central Bank boss Charles Plosser stated the Fed can do more to affect the jobless rate this year....
PREVIOUSLY....every price dip was met with a surge of Asian buying........
*please feel free to contact me with your questions and comments........
REPORTS: 9/2
EXPORT SALES.........................7:30 AM (CST)
INITIAL JOBLESS CLAIMS.... ....7:30 AM (CST)
PRODUCTIVITY ........................7:30 AM (CST)
