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Gold Prices Reflect Nervousness Over Government Shutdown

Commentaries & Views

(Kitco News) - The markets continue to reflect nervousness about the possibility of a government shutdown at midnight tonight. The rhetoric ratcheted higher overnight as Democrats continue to demand a deal on DACA as part of the funding extension. Dollar selling accelerated and gold pushed higher before the Asian close. Volatility will increase throughout the day and traders are likely to go into the weekend long as a “just in case” trade. It is difficult to put a true value on the overnight move when it is predicated on a hedge bet. A funding agreement could reverse the move quickly but there is also considerable upside should the Federal government shut down. Place your bets.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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