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
Gold futures are right near 3 year lows going out this Friday afternoon at 1,212 an ounce finishing higher by around $12 this week despite the fact that the money flow continues into the S&P 500 and out of the precious metals as investors see no reason to be long the gold market at this time. Gold futures have dropped $700 from their highs and I do think there’s still a possibility that we could drop another $100 dollars maybe another $150 but eventually this market will bottom out as well as world problems will come back into play, but right now the trend is your friend and in the trend buying S&P and selling gold and I think that’s going to continue for the rest of the year as the stock market is hitting all-time highs once again in the S&P 500 and Dow Jones Industrial Average while gold futures finished up $8 today. Continue reading "Weekly Futures Recap With Mike Seery"
