Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (20644)	7/29/2016 9:19:39 AM
From: Goose94	Read Replies (1) \| Respond to of 205123

Gold: The Bank of Japan surprised the market by leaving monetary policy unchanged overnight. The BOJ did not increase its purchases of Japanese bonds as expected and left its key interest rate unchanged. Speculation that the BOJ has hit a wall in its fight to increase inflation is this morning’s main talking point. The action strengthened the yen/dollar by 2%. Gold’s action is somewhat troubling. There may be a delayed reaction, but gold should be testing the $1,355 area, not flirting with the overnight support at $1,328. Is the perception that the central banks have failed in their easy money policy and Japan’s move is a precursor to the ECB and the Fed to finally bite the bullet? If the central banks slow down on the monetary expansion, the fiscal side will need to pickup the slack, or a global recession will be inevitable. Gold remains the play, but traders need to be sensitive to the $1,328 support level. Last day of the month may also bring in added volatility. Peter Hug