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Precious Metals Recovered From Early Friday Losses

Precious Metals Recovered From Early Friday Losses
Category: Market Reports
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Posted: 05-18-2015 01:39:00 PM

 Silver continues to impress as it settled above $17.50 on good physical demand throughout the day.

Gold and company recovered from early losses on Friday buoyed by weak economic data as gold settled above the 200-day moving average at $1,217.00, which technically points to further gains ahead. Silver continues to impress as it settled above $17.50 on good physical demand throughout the day. Trading resumed yesterday with good physical demand in the Asia Pacific market highlighted by reports of very strong demand in India as gold and silver have recorded intraday highs of $1,232.00 and $17.77.

Looking at the week ahead, all eyes will be on the Wednesday release of the FOMC minutes from their April meeting. On the back of a run of weak economic data. talk is growing that a rate hike could now be pushed off until 2016, which has weakened the USD and given life to our market. Confirmation of the FOMC’s concern about the state of the U.S. economy with a dovish tone in the minutes could propel gold beyond $1,250.00, while a surprisingly hawkish tone could see us revisiting $1,185.00 very quickly.

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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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