real-time news and commentary for investors
Wednesday, Oct 9
Gold bulls get no relief from Yellen nomination
- The best evidence that the nomination off the dovish Janet Yellen to be Fed chief was priced in comes from the reaction of gold and the dollar - the metal down and the paper up.
- The greenback is ahead 0.5% vs. the euro,0.8% vs cable, 0.5% vs. yen, and 0.7% vs. the swissie. It's off moderately vs. the aussie, and flat against the loonie.
- UUP +0.3% premarket.
- Other dollar ETFs: UUPT, UDN, UDNT.
- Gold is down 1% and silver down 1.2%.
- Precious metals ETFs: GLD, IAU, SGOL, PHYS, AGOL, DGL, UBG, DGP, UGL, DZZ, GLL, DGZ, UGLD, DGLD, GLDI, SLV, SIVR, AGQ, DBS, USV, ZSL, USLV, DSLV, SLVO.