Home InfoVault Market Reports Precious Metals Start Sept With Sharp Losses - Market Report For 9/2/2014 - ModernCoinMart (MCM)

Precious Metals Start Sept with Sharp Losses - Market Report for 9/2/2014 - ModernCoinMart (MCM)

Precious Metals Start Sept with Sharp Losses - Market Report for 9/2/2014 - ModernCoinMart (MCM)
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Posted: 09-02-2014 11:15:00 AM

The precious metal market begins the new month on its heels as all four metals are looking at sharp losses in early U.S. trading. A lack of physical or paper buying overnight in Asia was a precursor of what was to come as short sellers continue to feel empowered on the back of the rising USD.

The precious metal market begins the new month on its heels as all four metals are looking at sharp losses in early U.S. trading. A lack of physical or paper buying overnight in Asia was a precursor of what was to come as short sellers continue to feel empowered on the back of the rising USD. With gold having already fallen below support at $1,275.00, today may see bargain hunters in the U.S. support the market in the mid $1,260.00s but it would appear further losses are on the horizon as $1,250.00 should be the next target.

Despite tension continuing to escalate in the Ukraine over the past few days, palladium came under pressure as it fell almost $30.00 after touching $910.00 over the long weekend. The second half of the week brings us a press conference by the European Central Bank which appears to be poised to lower interest rates. There is even talk that an asset-backed stimulus program could be employed as they struggle with a lackluster economy. The result of the ECB policy decision is likely a continuation of the rally in the USD which could add to gold and company’s woes.

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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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