The master plan for world domination is preceding nicely.
Still thinking $875 as a target. Shorting the miners is our highest-probability-of-not-losing-everything trade
June futures are down $15.70 at $1276 and not that far from last year's $1179-and-change June and December double low.
From Kitco:
A.M. Kitco Metals Roundup: Gold Down, Hits 3-Week Low, Amid Increased Risk Appetite in Market Place
Gold prices are moderately lower and scored a three-week low in early U.S. trading Tuesday. The long holiday weekend in the U.S. saw potential geopolitical tensions de-escalate just a bit. Risk appetite in the world market place is on the upswing early this week, as U.S. stock indexes are at or near record or multi-year highs, while the U.S. dollar index is weaker. June Comex gold was last down $14.40 at $1,277.40 an ounce. Spot gold was last quoted down $15.00 at $1,278.00. July Comex silver last traded down $0.298 at $19.115 an ounce.
The Russia-Ukraine territorial crisis appears to have ratcheted down at least a notch over the holiday weekend. The Ukraine held a presidential election on Sunday. The new president-elect of Ukraine, Petro Poroshenko, said he wanted to work with Russia and with Europe on integrating his country into both. Recent rhetoric from Russian president Vladimir Putin also seemed to be more conciliatory. This news allowed some more risk appetite to creep back into the market place Tuesday. However, reports also said there is still significant fighting occurring between Ukrainian government troops and pro-Russian separatists.
The European Union saw parliamentary election results during the weekend. Italy and Germany saw their present governing parties declare victory, which was deemed as calming to the market place. There had been concern in the EU about anti-EU candidates making a strong showing, which helped to push EU periphery countries’ bond yields higher recently. However, the so-called Euro-skeptics did make progress in France and the United Kingdom. The Euro currency and European stock markets were supported by the weekend EU election results.From FinViz:
There is a heavy slate of U.S. economic data due for release Tuesday, including durable goods orders, the U.S. flash services PMI, the S&P/Case-Shiller home price index, the monthly house price index, the consumer confidence index, the Texas manufacturing survey, and the Richmond Fed business survey....MORE
