Home InfoVault Market Reports Precious Metals Fail To Rise On Political/Economic Tensions - Market Report For 09-24-2014 - ModernCoinMart (MCM)

Precious Metals Fail to Rise on Political/Economic Tensions - Market Report for 09-24-2014 - ModernCoinMart (MCM)

Precious Metals Fail to Rise on Political/Economic Tensions - Market Report for 09-24-2014 - ModernCoinMart (MCM)
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Posted: 09-24-2014 10:53:00 AM

Precious metals failed to hold the move higher yesterday despite increasing tension in the Middle East and economic woes in Europe that appear as though they will be with us for quite a while.

Precious metals failed to hold the move higher yesterday despite increasing tension in the Middle East and economic woes in Europethat appear as though they will be with us for quite a while. On the move higher, producer selling was reported throughout the OTC market and silver’s failure to break $18.00 along with the equally fast sell-off certainly was disappointing for the longs. This morning finds the complex, with the exception of palladium, again under pressure after a quiet Asian and European session.

Silver is currently down 25 cents and flirting with $17.50. A break below with any volume behind it is likely to see silver trading on either side of $17.00, perhaps in a hurry, so beware of extreme volatility today. Gold continues to put up a good fight, holding above support at $1,215.00, but with the pressure silver is under, a look at $1,185.00 appears to be only a matter of time. Several FOMC members will be giving speeches this week which should impact all markets. We have already heard from the President of the Minneapolis Fed whose dovish comments had little impact in curbing the current trend in our market. Next up is the President of Cleveland Fed, more dovish comments could curb the selling and maybe even bring a short covering rally but hawkish comments would likely have a greater impact and add to the selling pressure.

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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.

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