We've asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.
Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.
Gold futures in the April contract are currently trading at 1,212 up around $3 an ounce while settling last Friday at 1,205 finishing up $7 in a relatively quiet trading week. Gold futures are trading below their 20 and 100 day moving average as I’ve talked about in many previous blogs I do think gold is now being used as a currency due to the fact that the Euro currency and many foreign currencies are absolutely falling out of bed as interest rates in many countries have gone negative so who wants to place money into a bank and lose money as investors are looking at gold which has no dividend but still it’s better than a negative return. [Read more...]