Opinion with Peter Hug
Markets Looking For A New Catalyst
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
(Kitco News) - Metals bound in a tight range as traders await fresh catalysts. The G-20 meeting over the weekend was uneventful but there was certainly a suggestion of a protectionist bias from the U.S., which may lead to a more aggressive trade policy. This week, almost all Fed members will be expressing opinions on the financial landscape, which should create some whip-saw action in the markets. The administration appears bogged down with health care, which may resolve itself this week, but until it does, it pushes the president's agenda on tax reform further into the future. Remain neutral on gold, unless we can get a break above the $1,237 level. Support remains at the $1,222 level.