As everybody knows, last days main subject was USA budget crisis. In one day 800.000 people were discharged. Next days are very important for trading. If the problems won't be solved, the exit from USA securites and stock exchanges continue and entries to emerging markets will increase.
The impact of the budget crisis will effect also FED's decision about QE. The tapering was delayed in the last metting and the delay will continue. However, this expactation won't effect the gold's price for increasing. China's markets will be closed and the volume of the trading is going to be low. The volatility is so high for me. For this reason, it is logical to wait instant news and trade in short time for low profits.
Tomorrow there aren't many important news and movements will be limited I guess. Because of the lack of data and risk appetite the markets will open with decline and may be gold and silver prices gain a bit. Stop-loss levels are always important but next days they have more importance.
Have profitable days.
Regards.
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