Gold bounced around in a narrow range yesterday as the market consolidated the impressive gains of the previous week.
Traders are now anticipating Ben Bernanke's speech at the Jackson Hole symposium on Friday, for either an announcement of further economic stimulus or, at the very least, further clues to the timing of any such stimulus. and we expect markets to tread water until then in the absence of further market moving events.
Although it is likely that Bernanke will provide further details regarding economic stimulus, there is potential for some disappointment if nothing is forthcoming, as the markets are in full QE anticipation mode.
Today's video looks at our strategy for the next few days and further thoughts on Friday's meeting.
Traders are now anticipating Ben Bernanke's speech at the Jackson Hole symposium on Friday, for either an announcement of further economic stimulus or, at the very least, further clues to the timing of any such stimulus. and we expect markets to tread water until then in the absence of further market moving events.
Although it is likely that Bernanke will provide further details regarding economic stimulus, there is potential for some disappointment if nothing is forthcoming, as the markets are in full QE anticipation mode.
Today's video looks at our strategy for the next few days and further thoughts on Friday's meeting.