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Home InfoVault Market Reports Precious Metals' Quiet Week Continues Today - Market Report For 06/04/2014

Precious Metals' Quiet Week Continues Today - Market Report for 06/04/2014

Category: Market Reports
Author Name: Roy Friedman
Posted: 06-04-2014 11:37:00 AM

Precious metals have traded quietly in narrow intra-day ranges this week, and while early in the U.S. trading day, early signs show this trend continuing today as all markets await a slew of economic data tomorrow and Friday. Physical demand from our corner of the market continues to be noticeably better than it was a week or two ago at higher spot prices, but certainly not robust enough to scare the shorts into covering positions.

Although gold quickly recovered after hitting a fresh multi-month low yesterday below $1,240.00, it continues to show no signs of being able to take out resistance between $1,250.00 and $1,255.00. Silver is beginning to feel like it is finding its legs and could be poised for a run at $19.20, which will assist gold to probe higher. The trend of a weaker USD and lower interest rates that I have often written about over the past month appears to have now come and gone without bringing the rally I had expected. This week has seen the yield on the 10-year bond rise back above 2.60 percent which could prove to be troubling for precious metals in the short term.

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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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