Home InfoVault Market Reports Overall Volume Continues Light - Market Report For 08/27/2014 - ModernCoinMart (MCM)

Overall Volume Continues Light - Market Report for 08/27/2014 - ModernCoinMart (MCM)

Overall Volume Continues Light - Market Report for 08/27/2014 - ModernCoinMart (MCM)
Category: Market Reports
Author Name:
Posted: 08-27-2014 03:20:00 PM

Yesterday’s early morning short covering rally which may have been caused in part by discord within the French government was short lived

Yesterday’s early morning short covering rally which may have been caused in part by discord within the French government was short lived, especially in silver where those gains were all given back during the U.S. trading day. Overall volume from all segments of the market continues to be light, but despite the strength of the USD and continued record bullish run in U.S. equities, gold and silver have held support at $1,275.00 and $19.25.

Both metals continue to be locked in a technical trading range and are once again looking for direction. This will likely come from the USD which has once again become the leading influence on precious metals. A weaker USD on the back of lower bond yields could propel gold back above resistance at the 100-day moving average which currently stands at $1,295.75 and would signal a further test of the 50-day average at $1,307.00. A continuation of USD strength likely sends gold below support at $1,275.00 where the target would be $1,250.00. With the gold silver ratio currently at 66, a move towards $1,250.00 should take silver below $19.00 where further selling is likely to materialize.

© Copyright 2018 ModernCoinMart (MCM). All Rights Reserved. We encourage the sharing and linking of our information but reproduction of our news and articles without express permission is prohibited. Instead of reproducing, please provide the link to the original article or use the share buttons provided.

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.

What are your thoughts? Overall Volume Continues Light - Market Report for 08/27/2014 - ModernCoinMart (MCM)