Home InfoVault Articles Gold And Silver Trading Steady

Gold and Silver Trading Steady

Gold and Silver Trading Steady
Category: Articles
Author Name:
Posted: 05-13-2015 04:19:00 PM

All eyes are on gold in this week's market report.

Gold and silver, as they have done the past few weeks, have traded on a steady tone for the first half of the week. Despite interest rates rising as the bond market sells off, the USD weakened a bit yesterday providing the fuel for our market to probe higher. On the encouraging side, physical demand continues to pick up despite gold and silver continuing to trade in a well-defined range. On the concerning side, overall volume is falling as ETF, Futures and OTC volume contract. This morning’s spike higher comes on the back of very weak U.S. economy data. 

The closely watched retail sales report missed the target badly and further data showed that the prices U.S. consumers paid for goods imported into the U.S. fell for the tenth straight month. The continuation of weak data on the consumer side of the U.S. economy should put to rest any discussion of a rate hike by the FOMC in June and will severely impact what they can do in September unless there is a very significant change in consumer spending as the weather hopefully improves throughout much of the country. On the technical side, all eyes are on gold as it battles with very well defined resistance between $1,210.00 and $1,215.00. Silver continues to impress and perhaps a move towards $17.50 will give gold an added lift.


© Copyright 2016 ModernCoinMart (MCM). All Rights Reserved. We encourage the sharing and linking of our information but reproduction of our news and articles without express permission is prohibited. Instead of reproducing, please provide the link to the original article or use the share buttons provided.

About The Author

Roy Friedman

This editorial has been prepared by Roy Friedman of Dillon Gage Metals. This document is for information and thought-provoking purposes only and does not purport to predict or forecast actual results. It is not, and should not be regarded as investment advice or as a recommendation regarding any particular security, commodity or course of action. Opinions expressed herein are current opinions as of the date appearing in this editorial only and are subject to change without notice. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not prove to be true, results are likely to vary substantially. All investments entail risks. There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate its ability to invest for a long term especially during periods of a market downturn. No part of this editorial may be reproduced in any manner, in whole or in part, without the prior written permission of Dillon Gage Metals. This information is provided with the understanding that with respect to the opinions provided herein, that you will make your own independent decision with respect to any course of action in connection herewith and as to whether such course of action is appropriate or proper based on your own judgment, and that you are capable of understanding and assessing the merits of a course of action. You may not rely on the statements contained herein. Dillon Gage Metals shall not have any liability for any damages of any kind whatsoever relating to this editorial. You should consult your advisors with respect to these areas. By posting this editorial, you acknowledge, understand and accept the foregoing.

This editorial is republished by MCM with permission from Dillon Gage Metals. It is not intended, nor should it be taken, as investment advice. No warranty as to the accuracy or validity of comments made within this editorial is expressed or implied by MCM or its staff. No part of this editorial may be reproduced in any manner, in whole or in part, without the prior written permission of Dillon Gage Metals.

What are your thoughts? Gold and Silver Trading Steady