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All 4 Precious Metals Rallied Yesterday

All 4 Precious Metals Rallied Yesterday
Category: Market Reports
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Posted: 12-10-2014 11:30:00 AM

After a quiet but steady start to the week on Monday, yesterday brought us a very sharp rally across the board as all four precious metals broke above resistance levels.

After a quiet but steady start to the week on Monday, yesterday brought us a very sharp rally across the board as all four precious metals broke above resistance levels. Among the factors that contributed to the rally yesterday and could lead to further gains was a weaker USD, a sell-off in Chinese and U.S. equities, and a report from our C.I.A. which detailed post 9/11 interrogation activities which had many security experts saying it could lead to a terrorist action. On top of this physical demand remains strong globally even at the higher price points which is encouraging.

Keep an eye on crude oil as it remain under pressure with many commentators talking about another 10 percent decline being a real possibility as inventories continue to climb at the same time as OPEC has released a report indicating they expect demand to continue falling in 2015. The gold silver ratio continues to garner attention as it is now trading on either side of 72.00 as silver continues to outperform gold. This trend may continue for a bit longer and the ratio may trade into the high 60s, but I would not look for it to go any lower. The likelihood is that if our markets are going to continue rallying it will be with gold being the leader. A settlement above gold’s 100-day moving average at $1,235.95 should signal a test of $1,275.00 – $1,280.00 is in the cards which should offer silver enough momentum to take a run at $18.00.

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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.

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