From Walter Pehowich
By Walter Pehowich,
Our day starts out with preliminary opening interest numbers up in gold, bringing new longs into the gold market. Overnight resistance levels at $1,160 broke through from Far East interest. The next level that Wall Street traders are watching will be $1,170 basis Dec. Fueling the gold price are comments from former Dallas Fed official Richard Fisher. stating that a Fed hike may be seen by year end but it’s NOT necessary.