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Far East Smothers Silver Overnight

Far East Smothers Silver Overnight
Category: Market Reports
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Posted: 12-14-2015

Silver seems oversold at these levels as Far East traders continue to pressure the metal at any sign of weakness.

Far East selling overnight brings silver to a new 6 year low. Additional headlines include:

  • Oil market hitting a 7-year low putting pressure on the metals
  • Warm weather in the Northeast creating lower natural gas prices
  • Dollar index and Euro virtually unchanged this morning

With just two days ahead of the World Series and Super Bowl of all anticipated rate hikes, market participants are very nervous taking on any substantial positions here. Nonetheless, Wall Street gold traders, attracted by the potential volatility that the rate hike and the FED language could create, are putting their last minute strategies together.

Most traders believe that this current trading range in gold will be a distant memory after the FED decision Wednesday. I anticipate that computer algorithms will be very active as the news is released. This I believe will create unsettling volatility in the price of gold and silver.

Gold lower but still range bound as we witness little change in the dollar index this morning.

Silver seems oversold at these levels as Far East traders continue to pressure the metal at any sign of weakness.

This morning, precious metal dealers are reporting sluggish silver coin sales last week, hoping the new lows will bring back the interest and raise premiums. Today is the last day of the U.S. Silver Eagle release allocation. We don’t expect to see any more Silver Eagles till mid-Jan.

Put your trading seat belts on, we all anticipate a wild week ahead.

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About The Author

Walter Pehowich Author Name: Walter Pehowich
This editorial has been prepared by 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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