Phil Streible
Precious metals surging overnight with gold up 1.18% at $4114 and silver up 2.8% at $5194
Phil Streible
Key gold levels: overnight lows at 3997.40, 50-day MA at 3981.70, trend support at 3950.20
Phil Streible
Nvidia earnings day - AI bulls hoping for strong numbers to provide relief from equity selloff
Phil Streible
Option markets imply 7% swing in either direction post-Nvidia earnings
Phil Streible
UK inflation falling for first time in 7 months - indicator of what we'll see in US going forward
Phil Streible
Markets see 46.6% probability of 25bp Fed cut in December, 50% chance in January
Phil Streible
Dollar index at 99.66 with 50% inverse correlation to gold - need dollar to back off for further gold boost
Phil Streible
10-year Treasury yield at 4.11% in tight range but bouncing off resistance
Phil Streible
Bitcoin down 30% from October highs with $500M outflow from BlackRock Bitcoin Trust
Phil Streible
Silver ETFs adding 262,000 troy ounces - six straight days of growth, longest streak since July