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Gold and Silver- Looking back and forward

Gold and Silver- Looking back and forward
Category: Market Reports
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Posted: 12-30-2015 09:51:00 AM

As the New Year approaches, it is time to reflect on the events of the market. 

Time for a recap of the old year, before we head into the new. From the first of the year in 2015, we see gold lower by approximately $100 dollars and silver lower by approximately $1.90.

Some folks are asking , is there any hope for the bulls in 2016?

Here are 2015’s low points to ponder:

  • Gold hit its yearly low on December 3rd at 1046 per ounce, down 13 percent for the year. Since the start of December, we have seen an increase in interest rates which may cap any Gold rally short term.
  • Silver also hit its yearly low on December 14th at $ 13.60 per ounce also down 13 percent for the year.

Going forward, Silver seems more vulnerable than Gold to larger price movements.

In the upcoming election year, especially with this crew of candidates, one can only guess the direction our markets will take in 2016.

Many Wall Street traders are away for the holiday so it’s difficult to find out their predictions for the new year.

Nonetheless, which ever trading costume you will feel comfortable wearing in 2016, bull or bear, feel free to wear it to the 2016 Times Square New Year’s Celebration. I assure you, you will feel right at home. No photos please.

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About The Author

Walter Pehowich Author Name: Walter Pehowich
Walter Pehowich is the executive vice president of precious metals investment services for Dillon Gage with over 38 years of experience in precious metals investment services. His career began in 1977 at Bache (which evolved to Prudential-Bache Securities and then Jefferies Investment Bank). While at Jefferies, he served as senior vice president with oversight of investment grade precious metal products. Pehowich holds a National Futures Association (NFA) Series 3 license, authorizing him to advise and sell alternative investments in commodities and futures markets.

What are your thoughts? Gold and Silver- Looking back and forward