Intraday Market Thoughts

Metals Attempt Recovery, after Asian Collapse

by Ashraf Laidi
Apr 15, 2013 13:42

Gold selloff turns to a free fall to 1385 after reports of a margin calls hitting buyers at the Shanghai Gold Exchange as Chinese investors were known to be keen buyers. China's weaker than expected GDP figures coming in at 7.7% from 7.9% did not help metals either. Silver extends collapse to 23. Both gold and silver are seeing a Monday rebound, which many conclude to be bottom fishing by the central banks. That is what has been said when gold reached 1600, 1550 and 1500. We issued new trades on GOLD today (after Friday's trades were unfilled), SILVER and USDCAD with accompanying trading notes to lay out the rationale for these trades. See Premium Insights for all the new and existing trades.

Act Exp Prev GMT
Gross Domestic Product (y/y)
7.7% 8.0% 7.9% Apr 15 2:00

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