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Physical Gold Had Good 2-Way Action Yesterday
Category: Market Reports
Author Name: Walter Pehowich
Posted: 04-20-2016 10:05:00 AM
Author Name: Walter Pehowich
Posted: 04-20-2016 10:05:00 AM
I believe the rally in silver will lose some steam and test the $17.00 level this week.
Yesterday dealers reported good two-way action in the physical gold market. Weaker dollar and weaker economic indicators were behind the rally in all four metals yesterday. Some dealers I spoke to this morning said, not only did they experience good two-way action yesterday, but they also had a few new inquiries from people who never traded with them before.
Today gold is virtually unchanged after we witnessed an outflow overnight in the gold ETFs. The silver ETF continues to set a new yearly record as inflows in the gray metal continue. Some financial advisors have indicated their clients are more interested in investing in silver than gold. A number of clients have indicated that they believe going forward, silver has better chance of tripling in value in the future where gold would struggle to compete with that scenario.
Some Far East silver traders report seeing China pick up their purchases in silver last two days, which in turn helps silver build a base at the $17.00 level. I believe the rally in silver will lose some steam and test the $17.00 level this week.
PGM traders sharing that they had seen new fund investment yesterday in the PGM arena. Something they haven’t seen in quite a while.
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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? Physical Gold Had Good 2-Way Action Yesterday
