Home InfoVault Market Reports Precious Metals Limp To Week’s Close - Market Report For 08/15/2014 - ModernCoinMart (MCM)

Precious Metals Limp to Week’s Close - Market Report for 08/15/2014 - ModernCoinMart (MCM)

Precious Metals Limp to Week’s Close - Market Report for 08/15/2014 - ModernCoinMart (MCM)
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Posted: 08-15-2014 11:14:00 AM

Precious metals are limping to the finish line this week as technical factors outweigh geopolitical issues, which, while they have not gone away, have not escalated this week.

Precious metals are limping to the finish line this week as technical factors outweigh geopolitical issues, which, while they have not gone away, have not escalated this week. After numerous attempts by gold to break above $1,320.00 and by silver to find traction above $20.00, both have moved lower in a big way, this morning with platinum and palladium doing the same.

This morning’s sell-off finds gold, silver and platinum trading below their 10, 50 and 100-day moving average. While the lower price points should be welcomed by our corner of the market, this may just be another case where precious metals prices which fall faster than they rally probe the lower third of the trading range that we have been in for several months. Gold is still $20.00 away from longer term support, which should be found from $1,275.00 through $1,250.00. Silver, which continues to feel more vulnerable than gold, has traded to the $19.50 support area and bounced back to $19.60 as I finish today’s commentary. A break below $19.25 in silver should further empower the short sellers where a run at $18.25 is possible.

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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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