Phillip Streible, senior market analyst at RJO Futures, said that he sees potential for lower prices in the near-term as central bank rhetoric weighs on gold. He added that the shortened trading week could promote investors to continue to quietly liquidate their positions.

“With growing optimism in the global economy, there seems to be little reason to own gold as a safe-haven,” he said. “People are shifting their focus to rising bond yields and that will hurt gold.”


To read the rest of the article with Phillip’s comments, click here.

Phillip Streible

Early in his career Phillip began trading his own account as a screen trader focusing on the metals, grains and stock indices. He then became a Series 7 licensed financial consultant with A.G. Edwards. Later, he expanded his trading experience into a Series 3 licensed commodity broker with Investment Analysis Group. Most recently he was a senior market strategist at MF Global before joining RJO Futures in October 2011 as a senior commodities broker. As a senior commodities broker his goal is to show clients how to anticipate, recognize and react to bull and bear market conditions through the use of technical analysis techniques that help them to define risk.