The Street - Weak Euro Weighs on Gold Prices
By: Phillip StreibleJanuary 25th, 2012 8:45AM CST
Gold also butted up against some key resistance levels, and prices had climbed more than $20 in the past two trading session, triggering some profit taking.
"I think this $1,670 to $1,680 area is going to be resistance," says Phil Streible, senior commodities broker at RJO Futures. "The last time we were doing this grinding pattern in about 6 trading sessions we fell about $200." Future traders bought back gold in after hours trading, while buying in the physical market remained muted.
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Phillip Streible
Senior Commodities Broker
Early in his career Phillip began trading his own account as a screen trader focusing on the metals, grains, and stock indices. He then became a Series 7 licensed financial consultant with A.G. Edwards. Later, he expanded his trading experience into a Series 3 licensed commodity broker with Investment Analysis Group. Most recently he was a senior market strategist at MF Global before joining RJO Futures in October 2011 as a senior commodities broker.
As a senior commodities broker .... Read More
As a senior commodities broker .... Read More
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