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08-07-2015, 04:02 PM
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(Still) (http://info.kitco.com/still-stuck-in-the-middle-with-you) Stuck In The Middle With You

The jobs data has come and gone and surprise, surprise -- nothing has really changed. A September rate hike (yep, talking about the Fed again) is still on the table but it was never really off the table.

Gold prices fell on the “solid” jobs report but the drop appeared to be less than expected and there was some repositioning in the marketplace. According to market sources, a 100,000-ounce buy order went through the market at the U.S. equity open, which caused gold to pop $10 higher Friday morning. Kitco’s technical analyst Jim Wyckoff said that the push higher Friday could suggest that markets have now priced in September’s rate hike.

“While the overall technical posture of gold remains fully bearish, the bulls can also put forth the argument that the recent sideways price action on the daily chart begins to hint selling pressure has been alleviated,” he said.

However, investment demand for gold remains out of favor but some analysts have suspected that this could also turn around if there is another sharp drop, signaling a much-anticipated bottom – where that will be is anyone’s guess. In the meantime, negatives continue to grow; Natixis has now joined the ranks calling for $1,000 gold. They have jumped on the same bandwagon as Goldman Sachs, ABN Ambro and Deutsche Bank. Natixis probably won’t be the last to join either.

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Atlas Shrugged
08-07-2015, 06:46 PM

I seriously doubt the market has priced in a September rate hike.

Chump Change
08-07-2015, 08:01 PM

I seriously doubt the market has priced in a September rate hike.

Right now, any rate hike maybe anticipated, but certainly is not guaranteed and certainly the size of the "anticipated" hike is not known, either

I'm trying to wonder how any "price-in" could be garnered from any of that


But he could be correct, I just can't figure out how...

08-07-2015, 08:35 PM

I seriously doubt the market has priced in a September rate hike.

Even if it has not – it still seems to be a range bound and not moving in either direction. $10 bucks is nothing.
I think the Republican debate had more to do with the bounce and anything that was mentioned here. But that's just my opinion. When Republicans get riled up - metals move north.

Atlas Shrugged
08-07-2015, 09:01 PM
I agree with Jim that it is currently range bound...at least for the last week. I watched from clips; more of a debacle than a debate. And the blue team isn't any better.