14.12.2012 - Gold continues bearish move since testing $1800
After the digestion of not only the initial FOMC rate announcement, but the Bernanke commentary in the afternoon, thebig story is actually the bond market. The SP futures (emini DEC12) are slightly above unchanged while the US bond market is down today. In addition to the US 30yr bond futures trading down .38%. We are also watching the various months of the Eurodollar interest rate futures contracts as indicators of how the market is digesting the FOMC commentary. Eurodollars expiring in 2015 and 2016 are taking the biggest hit from sellers this morning, perhaps indicating that the market is getting more poised for higher growth...............................................Full Article: Source
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