US Net Long-Term TIC Flows declines to $-17.8B in Feb from $25.7B in Jan
Apr 15, 2013
US: Net Long-Term TIC flows at $-17.8B in February
Having come in at $25.7B in January, the February release disappointed investors at $-17.8B. Market consensus was pointing to $41.3B. Total Net TIC flows eased from $116.8B (revised from $110.9B) to $53.6B.
The commodity bloodletting has continued seemingly unabated to start off the week, with gold and silver being the primary casualties. Indeed, the yellow metal fell briefly below the 1400 level, bottoming out near the 1395 mark during US trading Monday. With strong support at the 1400 level, gold will look to regain 1425, i.e. it’s 200-week SMA. The technical structure has turned extremely bearish, as the long term bullish trend is starting to be damaged and accordingly, rallies should be treated as new opportunities to short. In these moments the price of gold is trading at just USD $1414.79 per oz.