{"id":17383,"date":"2014-12-09T17:02:33","date_gmt":"2014-12-10T00:02:33","guid":{"rendered":"http:\/\/www.itmtrading.com\/?p=17383"},"modified":"2014-12-17T10:55:51","modified_gmt":"2014-12-17T17:55:51","slug":"a-marks-bullion-update-14","status":"publish","type":"post","link":"https:\/\/www.itmtrading.com\/blog\/a-marks-bullion-update-14\/","title":{"rendered":"A-Mark’s Bullion Update"},"content":{"rendered":"

\"A-Mark-Precious-Metals-Inc\"Gold climbed to its highest level in six weeks as a global equity sell off caused investors to flock to the safe haven appeal of the yellow metal.\u00c2\u00a0 News out of China was the catalyst for a wild day in the markets.\u00c2\u00a0 China\u00e2\u20ac\u2122s clearing agency for\u00c2\u00a0exchanges said that bonds rated below AAA or sold by issuers graded lower than AA are no longer allowed for use as collateral in short-term loans.\u00c2\u00a0 An estimated $76 billion of outstanding debt can no longer be pledged in repo agreements.\u00c2\u00a0 The announcement by the China Securities Depository and Clearing Corp caused the Shanghai Stock Exchange to plunge 5.4%, its biggest drop in five years.\u00c2\u00a0 China\u00e2\u20ac\u2122s benchmark equity exchange collapse carried over to other global courses.\u00c2\u00a0 Anxiety on the outlook for equities forced investors to liquidate stock positions while rotating into perceived safe haven assets like the precious metals.\u00c2\u00a0 Gold exploded through previous resistance and finished up $30 on the day.\u00c2\u00a0 Offers capped the market at the convergence of the 100 DMA and a three point down trendline at $1,236.50. Silver piggy-backed on gold\u00e2\u20ac\u2122s ascent and achieved an important close above $17.\u00c2\u00a0 The next major area to look out for is the 100 DMA at $17.95.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gold climbed to its highest level in six weeks as a global equity sell off caused investors to flock to the […]<\/p>\n","protected":false},"author":6,"featured_media":17083,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1207],"tags":[38,1422],"class_list":["post-17383","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-china","tag-gold-trading"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/17383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/comments?post=17383"}],"version-history":[{"count":2,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/17383\/revisions"}],"predecessor-version":[{"id":17385,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/17383\/revisions\/17385"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/media\/17083"}],"wp:attachment":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/media?parent=17383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/categories?post=17383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/tags?post=17383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}