FLASH GAGE – Gold and Silver Higher This Morning

Flash Gage - News Headlines that Impact precious metals as they happen.

Gold and Silver are higher on a technical breakout this morning.

New longs entering the market, open interest declined in past few weeks now reversing.

Gold EFP posting 6,000 contracts on the exchange this morning which is a good start to the day in the London physical market.

Dollar index reversing its trend from a high of 99 last week, approaching the 98 level this morning.

Bank of Japan keeps interest rates unchanged. Cuts its inflation forecast to 1.5 percent from 1.7 percent for 2017.

FOMC Tool shows a 6 percent chance of a rate hike at the end of their two day meeting tomorrow and a 78 percent chance at the December meeting.

I’m still looking for the data to support that high probability of a rate hike in December.

Have a wonderful Tuesday.

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