Lind-Waldock Strategist Blake Robben discusses the energy futures markets. Topics covered: Energies rally on strong Chinese Demand; Cold weather in Europe; Technical analysis of energy futures markets; Buy the dip and enjoy the trip.
Monday, December 20, 2010
U.S. Dollar Rises Versus Euro on European Debt Woes
Lind-Waldock Strategist Dennis Cajigas discusses the currency and bond markets. Topics covered: Holiday Hours Leading to Light Volume in Currency & Treasury Trading; European Debt Crisis; U.S. dollar versus euro update.
Commodities: Gold Futures Up Along with European Debt Concerns
Bloomberg reports that gold futures rose for the second straight session as investors seek comfort in the precious metal amidst rising concerns about European debt. Gold reached an all-time high of $1,432.50 an ounce on Dec. 7 and is headed for another annual gain. Frank Lesh, a trader at FuturePath Trading, said, "You still have currency volatility and European debt problems are simmering, so gold is still a viable asset." Gold futures for February delivery rose $4.70, or 0.3%, to $1,383.90 an ounce on the Comex in New York on Monday morning. Dennis Gartman, an economist and editor of the Gartman Letter, recommends owning gold priced in foreign currencies this year. He said in today's newsletter, "In every instance, owning gold in euros or sterling or yen has proven better than owning gold in dollars."
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