Home InfoVault Market Reports Gold & Silver Held Levels All Week - Market Report For 08/29/2014 - ModernCoinMart (MCM)

Gold & Silver Held Levels All Week - Market Report for 08/29/2014 - ModernCoinMart (MCM)

Gold & Silver Held Levels All Week - Market Report for 08/29/2014 - ModernCoinMart (MCM)
Category: Market Reports
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Posted: 08-29-2014 03:14:00 PM

Precious metals, especially gold and silver, have held key support levels all week as rising tensions between Russia and Ukraine has brought us an increase in global physical demand while paper traders with short positions have likely bought some of those positions back.

Precious metals, especially gold and silver, have held key support levels all week as rising tensions between Russia and Ukraine has brought us an increase in global physical demand while paper traders with short positions have likely bought some of those positions back. Gold has traded into the mid $1,290.00s and silver the $19.90s, but a continuation of USD strength and good U.S. economic data has so far prevented further gains.

This morning finds that the U.K. has raised their terror alert status to a level that would indicate they believe a terrorist event is likely. As I finish today’s commentary, Prime Minister Cameron is scheduled to give a press conference shortly to discuss the threat further and the terror group ISIS. Failing any new headlines today, it may still turn out to be a good trading day as month-end positioning could bring volatility.

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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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