Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Metal Plays Weak With Gold

Gold is seeing some rare selling today as the market awaits words from the Federal Reserve at 2:00pm ET.  The Dollar is flat to weaker which tells educated investors that some profits are being taken ahead of the FOMC minutes.  The SPDR Gold Trust (ETF) (NYSE:GLD) is lower, trading at $131.59, -0.70 (-0.53%).  In addition, most metal stocks are also selling off. These stocks, just like gold have been on a meteoric rise and due for a small pull back.  Southern Copper Corporation (NYSE:USA) (NYSE:SCCO) is trading at $38.43, -0.31 (-0.80%) while United States Steel Corporation (NYSE:X) is trading at $44.61, -1.01 (-2.21%).

Gareth Soloway
Chief Market Strategist
InTheMoneyStocks.com