Home InfoVault Market Reports Headlines Fail To Drive Precious Metals - Market Report For 10-01-2014 - ModernCoinMart (MCM)

Headlines Fail to Drive Precious Metals - Market Report for 10-01-2014 - ModernCoinMart (MCM)

Headlines Fail to Drive Precious Metals - Market Report for 10-01-2014 - ModernCoinMart (MCM)
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Posted: 10-01-2014 10:31:00 AM

Precious metals continue to shake off all headlines that I would expect to support gold and the precious metals complex

Precious metals continue to shake off all headlines that I would expect to support gold and the precious metals complex. The combination of Hong Kong citizens protesting in the streets and uncertainty over what Russia will do to calm concerns over their currency and capital markets has had no impact, as the strength of the USD remains the driving force as prices continued the sharp sell-off yesterday despite the impressive demand the physical market has seen throughout the month of September.

With the sell-off yesterday, gold dropped almost 6 percent for the month, while the USD Index rallied by almost 4 percent. Yesterday also saw silver fail to hold $17.00, as prices revisited levels last seen in 2010. Overnight, physical demand was particularly heavy throughout Asia, perhaps in reaction to the fall in prices and the protests in Hong Kong. Today brings us the first trading day of the fourth quarter and a sharp early sell-off in equities. This brings back into focus the possibility of an equity bubble bursting this quarter which would likely see portfolios of all sizes reallocating with precious metals being a major beneficiary of the rotation.

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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.

This editorial is republished by MCM with permission from Dillon Gage Metals. It is not intended, nor should it be taken, as investment advice. No warranty as to the accuracy or validity of comments made within this editorial is expressed or implied by MCM or its staff. 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.

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