The Street - Gold Prices Gain Despite Firmer Dollar (Update 1)
By: Phillip StreibleFebruary 3rd, 2012 8:30AM CST
"Over the past few months, we've see domestic and international bank continuously adding to their short position in gold," says Phil Streible, senior commodities broker at RJO Futures. "I would expect with the recent $100 move higher, the actions by the Fed and the inability [for prices] to stay below the 200 day moving average for any extended period of time, for them to start covering their short positions."
To read the full article with Phil's quote, please go to TheStreet.com.
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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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