Home InfoVault Market Reports Review Of New LBMA Silver Price - Market Report For 08/18/2014 - ModernCoinMart (MCM)

Review of new LBMA Silver Price - Market Report for 08/18/2014 - ModernCoinMart (MCM)

Review of new LBMA Silver Price - Market Report for 08/18/2014 - ModernCoinMart (MCM)
Category: Market Reports
Author Name:
Posted: 08-18-2014 11:38:00 AM

Friday’s early sell-off in precious metals was somewhat short lived if only for gold and palladium, which reversed course on news that Ukrainian forces had attacked a Russian convoy.

Friday's early sell-off in precious metals was somewhat short lived if only for gold and palladium, which reversed course on news that Ukrainian forces had attacked a Russian convoy. The rally that ensued in gold was met be sellers which continued overnight as gold has failed to hold $1,300.00. Palladium on the other hand continues to rally and this morning reached a 13 year high as it traded above $900.00.

While gold continues to trade above the 100-day moving average this morning at $1,296.50 which happens to be the current intra-day low it feels like it is skating on thin ice. Large option purchases have been the precursor of a move in that direction on a few occasions over the past year and if this pattern continues gold could come under pressure in the weeks to come as large bearish option trades for November expiration were reported on the COMEX both on Thursday and Friday. Further pressure could come from speculative long liquidation as CFTC data for last week showed that speculative longs positions grew sharply.

This past Friday ushered in a new era for the silver market with the inaugural LBMA Silver Price which replaced the LBMA Silver Fix. As far as I could tell the transition went smoothly. Below is a copy of a press release regarding the new Silver Price. Here is a link to the LBMA’s FAQs.

LBMA Silver Price

© Copyright 2018 ModernCoinMart (MCM). All Rights Reserved. We encourage the sharing and linking of our information but reproduction of our news and articles without express permission is prohibited. Instead of reproducing, please provide the link to the original article or use the share buttons provided.

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.

What are your thoughts? Review of new LBMA Silver Price - Market Report for 08/18/2014 - ModernCoinMart (MCM)