evening wrap. march 24
market vibes
Around 2 PM taking questions from the Press in the Oval Trump said this: , “They’ve agreed… They will never have a nuclear weapon. They’ve agreed to that.” Meanwhile as peace talks with Iran are progressing well.. reports indicate that Israel is actively continuing military strikes against Iran.
The NY Session traded either side of unchanged for the entire day and closed roughly where it closed yesterday. After the stock market closed gold and silver made new highs for the day, stocks and bonds firmed and oil fell $4 dollars. Trump affirmation Iran would forgo nuclear weapons had little impact. I think will.
in the markets
Silver is developing cautiously higher with an isolated low from yesterday’s test of the low $60s. Without over thinking the markets behavior …any trading under $70 has been short lived and rewrding for buyers.
Gold… same idea (next chart). The threshhold for responsive buying is under $4500.00 and above the 200 D MA and $4423.00.There is a good chance the range low could be set for the next few months. Not that we won’t see these levels again but for now with all the narratives fading and bad length out, and the likelihood Iran is going stop fighting the US… meaning stop bombing the GCC and focus on israel… the GCC won’t be selling any gold.
***A quck disclaimer …
