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Platinum Trending Higher - Market Report for 07/28/2014 - ModernCoinMart (MCM)

Platinum Trending Higher - Market Report for 07/28/2014 - ModernCoinMart (MCM)
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Posted: 07-29-2014 10:23:00 AM

Precious metals begin the week in the U.S. with platinum and palladium moving higher, while gold and silver are unchanged but down from the Friday afternoon rally that followed the COMEX close.

Precious metals begin the week in the U.S. with platinum and palladium moving higher, while gold and silver are unchanged but down from the Friday afternoon rally that followed the COMEX close. Overnight trading volume was well above average which can likely be attributed to the expiration of COMEX options today, which I addressed in Friday’s commentary.

This week brings us plenty of economic headlines which can move all markets and make this a very interesting trading week. Tomorrow brings us the beginning of a two-day FOMC meeting with statements to follow on Wednesday afternoon. Wednesday also brings us a report on second quarter GDP and Friday brings us the Non-Farm Payroll / Unemployment report for July.

Technical support for gold currently stands at $1,305.00 – $1,300.00 and $1,290.00 – $1,285.00. Resistance in gold can be expected at $1,310.00 and again at $1,320.00. Silver support should continue to be found from $20.40 through $20.25 while resistance can be expected from $20.80 through $21.00.

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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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