Good morning from the IPMI conference in Phoenix, Arizona, where hundreds of traders and dealers from around the world exchange ideas in the Precious Metals markets. You can see the hotel lobby fill up with it all the traders and dealers every hour on the hour for meetings. Companies are here trying to establish new relationships, rekindle old ones and exchange ideas in technology.
Dillon Gage’s cutting edge technology continues to evolve and stands out as the leader in physical electronic trading platforms. Matter of fact, I didn’t see or hear of any other firm offering a comparable trading platform like “FIZ” trade. For any precious metals business, a precious metals platform is a must in order to compete with the worldwide electronic algorithms that move the price of metals in a heartbeat.
At the time of this report we view gold up $ 12.00 on overnight buying from Japan. Precious metals activity out of China, I’m told, is very quiet as Chinese firms look to trade other products with better returns.
Also supporting the rally in gold this morning are a weaker dollar index and lower oil prices.
CME Future Rate hike figures this morning are a 2 percent probability for a hike for June, a 23 percent probability for July, and a 33 percent probability for September.
Author Name: Walter Pehowich
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