We've still got inflation running, and that is why you're up so far for the month - up nearly two percent in the gold market. If you are looking at CPI data and the like, all you see is inflation. You just had on Friday the non-farm payroll. You saw wage inflation jumping more than what was anticipated in there. These are the problems that the market is facing, you're going to get this week on Wednesday course CPI coming out. Also, Fed chair Powell testifies on his semi-annual testimony to Congress on Tuesday and Wednesday. So we'll be seeing what he has to say about it.
So as we look at the gold, as I said on a monthly basis, you're up about two percent. On a weekly basis, you're up about the same. The week and the month, all began on the same day. It's not always that way, but it worked out this time. As you can see, new all-time highs in the market. As you can see, running to the upside.
About the author
LINN & Associates
Over the past 35-years Ira Epstein has developed a reputation for providing clients with easy to use technology and teaching good old fashioned trading know-how. A number of our brokers have over 30-years trading experience. No matter how technology changes the methods of entering orders, there's no replacement for having "been there and done that before". It's the blend of services that brings things together.
Be it education, market information or trading platforms, we provide solutions.
Ira began in the futures markets in 1969. Over the years he worked his way up, starting from the ground up as a "floor runner" culminating with his becoming a Floor Trader. In the mid 1970s Ira decided to make a career shift within the industry to develop both retail and commercial based clientele. His customer base grew to the point whereby in 1984 he founded "Ira Epstein & Company", a trading firm specializing in retail, commercial and self-directed discount futures trading. Along the way Ira became a leader in trading technology out of necessity, due to increased small lot trade volume. He was among the first to embrace the Internet, which as you know has dramatically changed both the way information is delivered and how trading takes place today.
One of the ways Ira, along with his brokers showcase their talents is through e-mails of market information and Ira's "Futures Videos", which can be viewed on our website, through Market Center, Linn-IraChart Software and on YouTube.