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Home>Opinions and Analysis>Gold Daily and Silver Weekly Charts - Metals Bears Stuffed - ISDA Declares Credit Event

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Gold Daily and Silver Weekly Charts - Metals Bears Stuffed - ISDA Declares Credit Event

IMG Auteur

Jesse

Le Cafe Americain

Published : March 10th, 2012

67 words - Reading time : less than a minute

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Category : Opinions and Analysis

The early bear raid on the metals in honor of the Non-Farm Payrolls report fizzled and the shorts got stuffed as the metals rebounded back.

This was highly bullish action.

Late in the day the ISDA declared the Greek bond action as a credit default event triggering the CDS. The market largely ignored it, but it did take the wind out of a fairly insubstantial equity rally.

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