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Quiet Before Today’s FED Decision

Quiet Before Today’s FED Decision
Category: Market Reports
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Posted: 03-16-2016 09:31:00 AM

Going forward, if gold continues its decline, I expect there will not be many new buyers in the market until we test the $ 1200 dollar level again. 

Quiet commodity markets ahead of the FED decision today at 2pm. Most expect no rate hike this time around. So we just wait to view the FED minutes in hope of receiving some clarity to when the next rate hike might be.

All four metals in the ETF arena saw increases yesterday, with Gold holding still above the 57 million mark. Uncertainty about global growth and negative interest rates are still a concern for many, as witnessed by the large open interest in the Gold CME contract.

Going forward, if gold continues its decline, I expect there will not be many new buyers in the market until we test the $ 1200 dollar level again. For silver, the story remains the same at $15 dollars, where we expect the level of support to be.

Wall Street spec traders are for the most part not involved at these levels and are also awaiting some direction from the FED before coming out to play once again.

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About The Author

Walter Pehowich Author Name: Walter Pehowich
This editorial has been prepared by 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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