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Gold Profit Taking This A.M.
Category: Market Reports
Author Name: Walter Pehowich
Posted: 03-30-2016 11:32:00 AM
Author Name: Walter Pehowich
Posted: 03-30-2016 11:32:00 AM
Profit taking also seen in the gold ETF overnight as seen in strong outflows in the gold fund position. Interesting though silver ETFs enjoys new highs as retail investors seem to be more attracted to silver over gold.
Gold profit taking this morning after yesterday’s rally on dovish FED comments. FED governors seem to continue to press for rate hikes while the global easing continues. Sounds like there is total disagreement on rate hikes in the FED conference room with Janet Yellen having the final say. Holding back from making any commitment on any future rate hikes.
Profit taking also seen in the gold ETF overnight as seen in strong outflows in the gold fund position. Interesting though silver ETFs enjoys new highs as retail investors seem to be more attracted to silver over gold.
Lacking any news, gold and silver prices seem to be settling down as the market waits for Fridays official March employment report. Expected to show the labor market added another 200,000 jobs.
In the meantime, in the absence of any significant news I expect the market to be range bound.
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About The Author
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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 Profit Taking This A.M.
