U.S. Gold Coins Gold American Eagle Coins Gold Buffalo Coins Commemorative Gold Coins High Relief Gold Coins Pre-1933 Gold Coins
Precious metals continue to hold the recent move higher as gold finds good buying in the low $1,190.00s and silver has held above $16.00 ecious metals came off the ropes with a big flurry on Friday just when it looked like a knockout was on the back of physical demand.
Precious metals continue to hold the recent move higher as gold finds good buying in the low $1,190.00s and silver has held above $16.00 ecious metals came off the ropes with a big flurry on Friday just when it looked like a knockout was on the back of physical demand. Gold has broken above $1,200.00 a few times now, mostly in overnight trading, as demand out of China is reported to be very heavy, but the landscape changes a bit during U.S. trading as the USD continues to probe higher on the back of good economic data. Russian buying of gold continues to draw a lot of attention and of course is very supportive. This week, Bloomberg reported that the Chairwoman of the Russian Central Bank confirmed they have purchased 150 metric tons so far this year.
Further support for gold is likely coming from the upcoming Swiss gold referendum which takes place on November 30 as pollsters are now saying the vote is getting closer and no longer assured of going down in defeat. Later today brings us the FOMC minutes from the October meeting. All markets will be looking for a clue towards the timetable of rate increases. If the minutes are dovish and continue to say rates will remain low for the foreseeable future, then we could see a sharp rally. A hawkish tone with a hint of certainty for rate hikes in the first half of 2015 will likely cause the USD to rally and pressure precious metals.
This will be my last commentary until early December as I recover from back surgery.
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.