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Twenty-five-year commodity market veteran Jim Prince is an expert in the principles of technical trading. Each day Jim reviews the biggest moves in the commodity markets, identifying formations and planking trading strategies. And now, in his free Daily Alert, Jim will share with you his hot pick of the day with an exclusive 3-5 minute video.
With each Daily Alert video Jim reviews first-hand his featured chart of the day, discusses trading strategy, and highlights possible entry and exit points.
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Precious metals prices this morning are weaker: GCZ4 -1.2 (-0.10%), SIZ4 -0.174 (-1.01%), HGZ4 -0.017 (-0.56%). Metals prices on Wednesday closed higher. Bullish factors included (1) increased safe-haven demand for precious metals after the S&P 500 fell to a 1-1/2 month low, and (2) the rebound in copper prices which recovered from a 5-1/2 month low and closed higher when the China Sep manufacturing PMI was a bit stronger than expected, which eased Chinese copper demand concerns. Closes: GCZ4 +3.9 (+0.32%), SIZ4 +0.202 (+1.18%), HGZ4 +0.0285 (+0.95%).