Let's go to the metal markets because that's what we're here to talk about. You're still up in gold 1.34%. The dollar got hit and you'll see that at the end of this as the gold market rallied today.. gold got the inflation, it's there – slow, but there and the Fed isn't rushing to do anything at this point in terms of slashing interest rates. We've really gone from the beginning of the year to what we were looking at: 1.5 [percentage] points, 150 basis points of cuts at one point, maybe a little higher down to 1.
I mean, that's fascinating: When you think about it, we're only 6 months in...
When we look, we can see the gold soar. Well, why not the dollar came crashing down on the CPI numbers and it didn't do much recovery one way or the other after the Fed conversation...
[The pattern consists of] lower highs lower and lows, okay? So, the challenge for the market is, can you get back up and over the $2369.60 level?
About the author
LINN & Associates
Over the past 35-years Ira Epstein has developed a reputation for providing clients with easy to use technology and teaching good old fashioned trading know-how. A number of our brokers have over 30-years trading experience. No matter how technology changes the methods of entering orders, there's no replacement for having "been there and done that before". It's the blend of services that brings things together.
Be it education, market information or trading platforms, we provide solutions.
Ira began in the futures markets in 1969. Over the years he worked his way up, starting from the ground up as a "floor runner" culminating with his becoming a Floor Trader. In the mid 1970s Ira decided to make a career shift within the industry to develop both retail and commercial based clientele. His customer base grew to the point whereby in 1984 he founded "Ira Epstein & Company", a trading firm specializing in retail, commercial and self-directed discount futures trading. Along the way Ira became a leader in trading technology out of necessity, due to increased small lot trade volume. He was among the first to embrace the Internet, which as you know has dramatically changed both the way information is delivered and how trading takes place today.
One of the ways Ira, along with his brokers showcase their talents is through e-mails of market information and Ira's "Futures Videos", which can be viewed on our website, through Market Center, Linn-IraChart Software and on YouTube.