Friday, December 4, 2009

Update 12/4

Well copper hit my buy at $3.20 and settled at $3.2375. Today the USD strengthened considerably and gold took a terrific tumble, though copper held up well on good economic news. Not too sure where copper is going now if the USD strengthens and the economy improves.. one pulls it higher, the other drags it down. As such, I'm going to be looking into other things to do as there's no clear direction here if these conditions persist. Silver is a possibility.

Yesterday's rumor re: Japanese selling of US treasuries was just that.. a rumor. Still I would expect the Japanese to be net sellers of US debt in 2010 by not "rolling over" some of their short term T-bills, and others could follow suit, notably England, if conditions in their home countries warrant this.

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