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Quiet Expected Going Into Holiday

Quiet Expected Going Into Holiday
Category: Market Reports
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Posted: 11-25-2015 12:51:00 PM

We expect a quiet trading session today due to the early get away expected by most Wall Street Gold traders looking forward to a four-day holiday. 

This morning, we see Gold drifting back to the low end of our recent trading range, mostly due to a stronger dollar. Gold taking a bid yesterday off the news of the Russian plane shot down by the Turkey Military. This type of news creates a knee jerk reaction to the upside in Gold and unless the situation escalates, the Gold rally is usually short lived.

We expect a quiet trading session today due to the early get away expected by most Wall Street Gold traders looking forward to a four-day holiday. Technical levels of support in the gold market are $1,066 and the $1,050, and nothing to talk about on the upside until we get to the $1,100 level.

Silver retail demand for coins and bars continues to be brisk as the US Mint announces the last allocation date to order Silver Eagles will most likely be the week of December 14th. Silver finding support at $14.00 after breaking that level briefly earlier in the week. Technical levels of support below are $13.85 then $13.68 and $14.48 on the upside.

Both markets still holding on with a bearish sentiment, as the feature story continues to be determining what the FED will do at their meeting in December.

As always at this time of year, we take time out to be thankful for our blessings. Our families, our jobs and our freedom.

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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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