Futures Traders: Get FREE daily videos covering today's hottest market
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 planning 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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Metals prices this morning are mixed: GCZ5 -5.9 (-0.55%) at a 1-week low, SIZ5 -0.093 (-0.66%), HGZ5 +0.029 (+1.39%) at a 1-week high. Wednesday's closes: GCZ5 -3.8 (-0.35%), SIZ5 -0.001 (-0.01%), HGZ5 -0.0085 (-0.41%). Metals prices on Wednesday closed lower on the rally in the dollar index to an 8-1/4 month high and reduced inflation concerns that curbed demand for gold as an inflation hedge after the U.S Oct core PCE deflator rose less than expected. Gold prices were undercut by news that long gold positions in ETFs on Tuesday fell to a 6-3/4 year low of 1,494 MT.