December 03, 2012 at 15:10 PM EST
Gold's Eerie Calm During Euro's New Lows Is a Warning
The following are the latest daily summaries of my ongoing intraday coverage providing context to interpret price action. Any prices listed are for a contract's current "front month." Their direction tends to correlate with any ETFs listed for each. Today’s Highlight: One day following gold’s break under support the dollar followed suit by probing fresh lows. But gold only firmed. That’s either because the euro fulfilled this leg’s target or because gold is preparing to tumble Tuesday. Dollar Basket Dec Contract DX; (NYSEARCA:UUP) (NYSEARCA:UDN) Monday’s low fulfilled the 79.75 target. Having gapped down an immediate recovery would require making ...
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