The US Finalized GDP numbers come out during the session today, so expect a lot of volatility when it comes to the US markets and of course the US dollar. With that, we believe that the announcement is going to be massive in its implications, and of course keeps us paying attention to the United States in general.
Ultimately, we think that the precious metals are starting to look very interesting. While the gold markets shot straight up during the day on Thursday, the reality is that it seems there is enough buying pressure underneath to keep gold going higher. We don’t want to get involved right now though, today could be a little bit of a pullback, but think of that as value. We feel the same about silver at the moment.
US stock markets will be highly influenced by the GDP numbers, with the higher the reading the better. With that being the case, we are going to wait until those announcements come out before we do anything involving US stock indices, but recognize that the potential to go much higher is certainly going to be there if we get the right numbers. We have no interest in buying puts the moment, because we believe that most stock markets around the world are a bit oversold at the moment. Keep in mind that the US dollar will be highly influenced as well, with the Canadian dollar probably being one of the most susceptible to dollar strength.
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