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Precious Metals Experience Active MLK Trading Day

Precious Metals Experience Active MLK Trading Day
Category: Market Reports
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Posted: 01-20-2015 10:09:00 AM
What are the outcomes of an active MLK Trading Day? Find out in today's market report.

The physical corner of the precious metals world had a very active MLK trading day as investors took the opportunity to buy a slight dip in prices as compared to Friday’s closing levels and an early test higher in Asia when trading resumed on Sunday night. This morning finds our market again probing higher as gold has reached $1,294.50 and silver broke $18.00 for the second time ($18.02 on Sunday night) as it reached $18.045 on the back of an IMF report released in China that forecast a cut in global economic growth for 2015 from 3.80 percent (their forecast in October) down to 3.50 percent.

Once again, gold has reacted positively to a deflationary scenario. Palladium, which has taken it on the chin recently, has been quite active overnight as physical demand and short covering have been reported as palladium trades $23.00 above Friday’s close. Trading should remain active and likely volatile in all markets this week as we look ahead to a Thursday policy meeting by the European Central Bank and the much talked about Greek elections scheduled for this weekend.

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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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