Quiet Start To The Day – Oil in + Territory
Category: Market Reports
Author Name: Walter Pehowich
Posted: 01-22-2016 10:37:00 AM
Author Name: Walter Pehowich
Posted: 01-22-2016 10:37:00 AM
A strong Equities market open is expected after seeing oil up over 5 pct. this morning. A welcome breather from all the madness of late.
SendWe start the day on a quiet note with oil and the dollar in positive territory, something that we haven’t experienced for quite some time.
Gold feeling slight pressure this morning because of the stronger dollar and higher oil prices. We have also noticed that base metals as well as Silver, Platinum and Palladium all in green territory.
Gold in backwardation mode. Feb-April gold switch this morning trading .30-.40 back indicating a slight tightness in the metal. London EFP quoted a positive 20-40 figure, haven’t seen this in a long time. One might think, that the reason for this is, the recent increase in ETF holdings over the last ten days.
Refiners and government mints report steady demand for product and are right on target based on their expected models for the year.
A strong Equities market open is expected after seeing oil up over 5 pct. this morning. A welcome breather from all the madness of late.
Across the pond: ECB’s Draghi yesterday indicated downside risks increasing again and sees a need to continue stimulus at least to the end of March 2016. The news created a buy signal to our equity markets here.
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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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