September 18, 2017

This morning gold prices are trading $1,315.00, down $5.00.  The S&P 500 is over 2500.  The 2-day Federal Reserve meeting begins tomorrow.  The Committee is expected to keep rates unchanged and address balance sheet reduction.  President Trump speaks at the UN tomorrow.  The Comex gold futures Managed Money net long position is 253.5K contracts, within approx. 20K of its all-time high.