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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 -2.0 (-0.16%), SIZ4 -0.149 (-0.84%) at a 4-year low, HGZ4 -0.049 (-1.57%) at a 3-month low. Metals prices on Friday closed lower with Dec gold at an 8-1/2 month low and Dec silver at a 4-year low. Bearish factors included (1) the rally in the dollar index to a 4-year high, which fueled fund selling in most commodities, and (2) the rally in the S&P 500 to a new record high, which reduced the safe-haven demand for precious metals. Closes: GCZ4 -10.3 (-0.84%), SIZ4 -0.727 (-3.93%), HGZ4 -0.0025 (-0.08%).