Gold and silver traders are having a hard time handling volatility as the metals react to every headline surrounding the U.S. Federal Reserve and uncertainty in Greece, says Steve Scacalossi, director and head of sales for TD Securities, adding that it will likely continue. “The games will continue as we head to the first deadline of Feb 28th when the Greek bailout package officially ends,” he says. “[I]t was supposed to end in December, but that was extended, and likely will be extended again… Same goes for the Fed, where two weeks ago things were quite dovish, turned hawkish, and now sentiment has shifted back to dovish,” he adds. On a lighter note, comparing financial markets to the NHL, Scacalossi says at least hockey fans know that the NHL sticks to its deadlines. “I can only point to the world of sports where with certainty we know that March 2 is definitely the trading deadline for the NHL.”
