Hey guys. You are probably aware by now the ratings agency Standard and Poors has announced after market close that it has downgraded US sovereign debt with further negative outlook. As this decision has the potential to create major dislocations in the financial system when markets open on Monday we have decided to suspend online trading this weekend. It is important to note that we do not suggest this news is necessarily near term bullish or bearish for gold and silver. We urge clients not to make directional bets until the the politics are clear and market has time to digest this news. It could already be priced in, we could see a crash which forces liquidation of gold and silver positions to pay margin calls ala 2008 or we could see a massive liquidity injection by central banks that sees all markets spike. The point is this is not a time to be placing uninformed bets. It is important to note the long term outlook for gold and silver has not changed. Please sign up to our twitter feed http://twitter.com/BULLIONMARK for the latest updates.
