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Home InfoVault Market Reports Precious Metals Trying To Probe Higher - Market Report For 10-08-2014 - ModernCoinMart (MCM)

Precious Metals Trying to Probe Higher - Market Report for 10-08-2014 - ModernCoinMart (MCM)

Category: Market Reports
Author Name: Roy Friedman
Posted: 10-08-2014 10:47:00 AM

Precious metals have consolidated and are trying to probe higher since the recent lows that were made on Sunday night / Monday morning, as the USD has backed off which has likely caused some of the shorts to begin covering while physical demand, especially in silver, remains very strong. The headline of the week so far is the global sell-off in equities on the back of the International Monetary Fund lowering their forecast for global economic growth for this year and 2015. This comes on the heels of continued weak economic data from Germany as the IMF stated that the U.S., Europe and Japan could face years of sluggish economic growth.

In addition to the weakening USD, the U.S. bond market has rallied sharply as the 10-year yield, which was testing 2.60 percent recently, is now at 2.35 percent which should further support precious metal prices. Today brings us the minutes from the most recent FOMC meeting. All markets will be looking closely for any hint of the upcoming “tightening” as rates are still poised to rise in 2015. Dovish comments today could bring about a big short covering while hawkish comments could see us testing the recent lows equally 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.