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, GLDISLV, SIVR, AGQ, DBS, USV, ZSL, USLV, DSLV, SLVO.

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Comments (6)
  • Patent News
    , contributor
    Comments (1458) | Send Message
     
    barrick is toast!

     

    http://seekingalpha.co...
    9 Oct 2013, 07:28 AM Reply Like
  • thrash
    , contributor
    Comments (139) | Send Message
     
    Yellen will be printing far more than Bernanke which can only hasten the collapse and demise of the US $ .
    9 Oct 2013, 07:43 AM Reply Like
  • flemsnopes
    , contributor
    Comments (124) | Send Message
     
    Three words: Plunge Protection Team
    9 Oct 2013, 07:50 AM Reply Like
  • 6151621
    , contributor
    Comments (1172) | Send Message
     
    Of course this news feed assumes what? Markets are efficient? If so then where's the alpha, SA? Something to consider...
    9 Oct 2013, 07:56 AM Reply Like
  • gmmpa
    , contributor
    Comments (622) | Send Message
     
    This is really get old! I am really tired of waking up every morning and reading the economic news coming out of Washington and trying to decide how it will impact my personal portfolio. Analyzing the economic policies of this governments is way too much work.

     

    9 Oct 2013, 11:04 AM Reply Like
  • filipo
    , contributor
    Comments (4545) | Send Message
     
    Yellen is not yet in office and already the "markets" react in an overconfident way.
    Wait and see till her bridal days will be over.
    9 Oct 2013, 01:14 PM Reply Like
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