Gold's stars aligned for bright December


NEW YORK (Scrap Register): Gold and silver should fare well in December in an environment with falling U.S. interest rates, a softening US dollar and “wobbly” equities, according to INTL FCStone.

Further, the chart pattern is now “constructive” after a breakout when prices topped $1,242 an ounce, INTL FCStone added.

If all these bullish variables do not get gold going in December, we don’t know what will. They list a potential December range of $1,230 to $1,285 an ounce.

“Silver should ride higher on gold’s coattails and platinum should see a higher trading range as well,” analysts added.

However, INTL FCStone said the recent run to record-high prices in palladium is “overdone,” considering car sales are slowing in the two largest markets in the world, the U.S. and China.

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