Survey participants who see higher prices said they thought the sell-off in prices this week was overdone and that the market will hold support levels. “Gold prices may see a slight rebound from the lows seen last week after showing a disappointing reaction to the Fed’s (Federal Reserve) announcement to extending Operation Twist. We should see a rebound as gold gets to a value area where traders will re-enter for safety and value,” said Phillip Streible, senior commodities broker, R.J. O’Brien.
To read the full article with Dan comments, please go to Kitco.com
Series 3 Licensed
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
Get a free "Fundamental Perspective of the Gold Futures Market" and learn about the E-micro gold futures contract.
Request the free article