According to data captured in Charles Schwab’s most recent Trading Services Sentiment Survey, only 10% of traders say they have a bearish outlook for the next three to six months.
According to the technicals that I like to use, the long-term trend in gold is still in play. Fundamentally, COMEX gold futures fell to $1,210/ounce on Dec. 6, 2014 and since then we have seen somewhat of a bounce higher.
The dollar rose to a five-year high versus the yen after the Federal Reserve officials voted to reduce monthly asset purchases that are seen as debasing the U.S. currency amid signs that economic growth is strengthening.
The U.S. Securities and Exchange Commission unanimously proposed boosting by 10 times the amount of money companies can raise under a simplified public offering, the agency’s latest step to ease fundraising by smaller firms.