U.S. Gold Coins Gold American Eagle Coins Gold Buffalo Coins Commemorative Gold Coins High Relief Gold Coins Pre-1933 Gold Coins
Precious metals are gravitating around yesterday's settlement prices on light volume this morning as geopolitical events support prices, while decent global economic data pressure prices. Technically speaking, the range in gold continues to narrow with support at the 100-day moving average at $1,302.50 and resistance at the 10-day average at $1,313.25.
Beyond these levels, gold should find further support at $1,294.00, which is the 50-day average, with resistance looking stiff from $1,325.00 through $1,340.00. Silver continues to find support below $21.00, but fades quickly on any rally attempt with significant resistance looming at $21.50. Keep an eye on bond yields for a clue on where precious metals go next. The 10-year yield is again below 2.50 percent and is currently at 2.45 percent. A move below 2.40 percent should assist gold in moving higher while a yield moving back towards 2.55 percent is likely to send gold and precious metals prices lower.
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.