Home InfoVault Market Reports Silver Continued Falling Overnight - Market Report For 09-22-2014 - ModernCoinMart (MCM)

Silver Continued Falling Overnight - Market Report for 09-22-2014 - ModernCoinMart (MCM)

Silver Continued Falling Overnight - Market Report for 09-22-2014 - ModernCoinMart (MCM)
Category: Market Reports
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Posted: 09-22-2014 04:46:00 PM

Silver prices continued falling overnight following the big sell-off on Friday.

Silver prices continued falling overnight following the big sell-off on Friday. The intra-day low of $17.325 in the active December futures contract represents a level last seen in the spring of 2010 when the market held either side of $17.25. Recent data released by the CFTC shows a dramatic increase in speculative short positions in silver, which raises the possibility of a “major league” short covering rally, but if the shorts are correct another percentage drop like we have recently seen in silver prices would indicate silver is headed for the low to mid $15.00s.

This morning finds base metals are also under pressure which frequently impacts the direction of silver. With speculative selling in gold not nearly as heavy as it is in silver, the increase in physical demand has been able to support prices and keep us above $1,200.00. On the technical side gold should find support at $1,185.00 while resistance can be expected at $1,225.00. Platinum and palladium continue to see long positions being liquidated while physical buyers who have been on the sidelines have begun to reenter the market.

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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.

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