Gold Bid, Stocks Sideways as Yellen Warms up
New York (Aug 26) Markets prepare for the Fed symposium in Jackson Hole. Precious metals see some short covering this morning with Gold trading up $4.50 at $1329.10, Global stocks are marginally higher with the SPX futures trading 2173 last. Full Jackson hole report in subsequent post. A Car bomb attack on a police HQ killed 9 with many injured. Iran cries foul as it wants its market share back in Oil. Data due will be the second GDP estimate at 8:30 and the Michigan Sentiment report at 10:00 AM and we will be vigilant for any more Gold market slams pre-Yellen. For our part, these events have lately ended with stocks taking a cue to rally. let's see if the trend continues.