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Home InfoVault Market Reports Precious Metals Range Bound - Market Report For 08/13/2014 - ModernCoinMart (MCM)

Precious Metals Range Bound - Market Report for 08/13/2014 - ModernCoinMart (MCM)

Category: Market Reports
Author Name: Roy Friedman
Posted: 08-13-2014 11:22:00 AM

Precious metals continue to be range bound and although overall volume improved a bit yesterday gold and silver quickly backed away from resistance levels.

Precious metals continue to be range bound and although overall volume improved a bit yesterday gold and silver after trying higher in the morning quickly backed away from resistance levels at $1,320.00 and $20.20. The subsequent retreat then saw gold and silver hold support at $1.305.00 and $19.85 which made for an interesting day for the “day traders” but did little to encourage the bulls or bears.

Keep an eye on crude oil which continues to move lower and the USD which continues to move higher as they should begin to weigh on precious metals which continue to rally each day a geopolitical event occurs but fail to rally for a second or third day. Momentum traders are likely on the sidelines here, but I expect them to enter the market when gold breaks $1,330.00 or $1,275.00. As we approach a period where many market participants go on vacation, we may be looking at the current range holding through early September.

Have you begun following Rhodium yet? This morning finds Rhodium trading above $1,400.00. Dillon Gage can offer you and your clients one ounce and one-tenth ounce Baird Rhodium bars for immediate delivery.

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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.