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Gold and Silver Continue to Soar Overnite

Gold and Silver Continue to Soar Overnite
Category: Market Reports
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Posted: 01-22-2015 10:23:00 AM
Gold breaks over $1,300 for the first time since August.

Gold and silver continued their impressive run overnight as gold broke above $1,300.00 for the first time since August while silver flirted with $18.50. Silver has really been the star of 2015 for precious metals traders as it has gained almost 20 percent this year and the gold silver ratio has dropped to just above 70 after being above 80 not too long ago. Tomorrow is the E.C.B. policy meeting; the buying we have seen in Europe today is likely on the back of expectations from European investors who feel the Euro currency will continue weakening as a bond buying QE program is expected to be announced tomorrow.

Technically, a close above $1,300.00 gold and $18.50 silver will be welcomed by momentum traders, but those with a shorter time focus may be looking at the gains gold and silver have recorded so quickly this year that they are more inclined to liquidate their recent speculative longs positions and look to re-enter the market on a dip. As I finish today’s commentary, we have another surprise announcement from a Central Bank as the Bank of Canada just announced a 25 basis point cut in their key interest rates as the deflationary dance continues globally.

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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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