www.thegoldforecast.com From Monday With Hurricane Sandy turning toward the eastern seaboard, hundreds of thousands evacuated and buildings shuttered everywhere, markets in New York were either closed for the day or ended up closing early. Like the weather itself, it will be hard to gauge when trading will get back to normal and when economic reports will flow again in a timely fashion from Washington, which is also being affected by the severe weather. The storm is about 800 miles in diameter. Normal trading might not even fire up until late this week and there is some scuttlebutt that US employment reports, due out Friday, could be delayed. The storm also throws more uncertainty into the presidential race. Precious metal trading was affected by the sluggishness and low trade volume. Outside bearish influences such as a firmer dollar and lower oil prices pushed the price of gold down modestly. Overseas we are watching renewed jitters in Europe over Greece, Spain, and now the bond yield in Italy. Much attention is focused on the Bank of Japan meeting tomorrow, a session that might yield new stimulus from the world’s second or third largest economy. While the strength of the dollar is a short-term concern for precious metals traders, medium and long term the greenback’s bearish signals look very good for us, especially gold bulls. Silver may have some distinct problems given the slowdown in world business, although stimulus in Japan and a re-stoked industrial fire in China

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