Deflationary Pressures Are Everywhere This Morning
When the precious metals decline, there is a very good chance that deflation is taking hold. This morning, both gold and silver are declining sharply lower. The SPDR Gold Shares (NYSEARCA:GLD) are trading lower by $4.49 to $161.96 a share. This is a decline of 2.60 percent for the GLD and this signals deflation in the stock market. The iShares Silver Trust (NYSEARCA:SLV) is trading lower by $1.00 to $30.33 a share. The SLV is declining lower by 3.25 percent and this is also signaling deflation in the market today. Traders can watch for short term intra-day support on the GLD around the $160.40 area. The SLV will have some short term intra-day support around the $29.80 area. ...Continue reading here: http://bit.ly/t5D4TD
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.