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August 18, 2020Equity markets posted another quiet session yesterday, with the S&P 500 once again just failing to close at a new all-time high, while the Nasdaq 100 did manage to do so, perhaps helped in part by a weaker US dollar, where EURUSD is poised near the pivotal 1.1900 level. The action

Jewelry maker Pandora down 8% on Q2 earnings and weak guidance revealing sales may contract as much as 20% this year as virus hurt demand in major markets.

FOMO developing in precious metals. Support for metals comes from various sides: stabilization in bond yields, Warren Buffet effect, US-Sino tensions, FOMC tomorrow, & weaker USD. $2020 a tech resistance in Gold. Prospects of recent highs being challenged increasing

COT: Metals sold with rising yields posing a threatCOT: Crowded euro long posing a threat to dollar bearsCommitments of Traders report covering speculative positions and changes in FX, bonds and stocks in the week to August 11Publishes two weekly Commitment of Traders reports (COT) covering leverage