| Rejoice! After months of contentious negotiations, we finally have a deal on the "fiscal cliff." Not a comprehensive deal, but a cliff-averting deal nonetheless. Is this a good deal or a bad deal? That's not the question I want to answer. Instead, I want to analyze the legislation and figure out: What's the impact on the futures markets?
Let's start with gold. You might have expected gold to sell off on a deal. But instead, the opposite happened, and gold rallied. Why? Well, while the deal will allow some of the tax increases to go into place, it did little to cut spending, and did not mention the debt ceiling...............................................Full Article: Source
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