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USAGOLD/Peter Grant/06-27-17
Gold is recovering from yesterday’s “mysterious” flash crash. The yellow metal is now nearly $15 off of yesterday’s intraday low and has come within $4 of a full retracement of the plunge.
What of course is really mysterious is that there is never a flash rally in the paper market. Whether by accident or with intent, it’s always a massive sell order that hits the market. Invariably though, such losses can not be sustained.
Today we’ll see the April Case-Shiller home price index, along with June consumer confidence and the Richmond Fed index. We’ll hear FedSpeak from Yellen and Harker in London and Kashkari is speaking at a townhall this evening.
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