Silver the Sole Metal With Some Support
Category: Market Reports
Author Name: Walter Pehowich
Posted: 05-25-2016 09:33:00 AM
Author Name: Walter Pehowich
Posted: 05-25-2016 09:33:00 AM
Some financial advisors report clients have been rotating out of metals and back into equities as the momentum shifts with better returns seen in the short term with dividend paying stocks.
SendThe price of gold is trying to consolidate around the $1,220 level as the cloud of higher interest rates hovers above. Redemptions seen in the Gold ETFs overnight and open interest in the CME futures also seen declining in the past few days.
Silver is the only metal getting some support from the retail investor. Platinum traded briefly under the psychological $1,000 level overnight, lowest price since April 19th. Palladium trying to hold a key technical level at $ 530, a level not seen since March 3rd. I expect both these levels to be challenged today.
Some financial advisors report clients have been rotating out of metals and back into equities as the momentum shifts with better returns seen in the short term with dividend paying stocks.
As I indicated in my comment on Monday, with the threat of higher interest rates on the horizon, ( possibly June ) I expect to see a sell bias in the price of gold and unfortunately, I don’t see that changing anytime soon.
© Copyright 2019 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
|
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. |
What are your thoughts? Silver the Sole Metal With Some Support
