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Gold Back to Positive With Weaker Dollar

Gold Back to Positive With Weaker Dollar
Category: Market Reports
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Posted: 12-18-2015 05:22:00 PM

Silver in no man’s land at these levels as she tries to figure out if she is a dress size 14 or dress size 13.

Gold back in positive territory this morning as we witness a weaker U.S. dollar in overnight trading. Gold yesterday broke thru its first level of support at $1,048.50 in the February contract and then failed to test the next level of support at $1,045.00. Gold found a bid yesterday around the $1,046.00 area when the dollar index rally stalled.

Now that the Fed has made its move to raise rates, Yellen has indicated that future rate hikes will be gradual depending on key economic data. Gold price movement in the short term seems to be totally reliant on currency valuations.

Silver in no man’s land at these levels as she tries to figure out if she is a dress size 14 or dress size 13. There are folks out their hoping once and for all that she will go on a strict diet and shed some pounds.

Oil still the market of choice for Wall Street speculators as the V V T ( VOLUME, VOLITILITY AND TREND ) continue.

Many Wall street traders will be flattening out their speck positions today as we start holiday week on Monday.

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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.

What are your thoughts? Gold Back to Positive With Weaker Dollar