Gold regains its footing, silver up sharply
Gold has regained its footing in early trading today, up $4 at $1337.00. Silver is trading sharply higher – up 31¢ at $16.88. Gold and silver are getting a residual, though modest, boost from the stock market routs in Asian and Europe overnight and early New York trading. The dollar is steady to down this morning, but inflation concerns weigh heavily on both the forex and bond markets.
Not getting much attention thus far is the report released this morning by Standard & Poor’s warning of the debt default danger among highly leveraged corporations. (See immediately below.) Zoom out from all the noise and obvious concern this morning among professional traders and you get a sense that the financial markets have crossed a psychological line of which the general public is only casually aware.
Please scroll to get a fuller picture of what is influencing markets this morning.
Chart of the Day