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Home InfoVault Market Reports Technical Factors Dominate Precious Metals - Market Report For 10-24-2014 - ModernCoinMart (MCM)

Technical Factors Dominate Precious Metals - Market Report for 10-24-2014 - ModernCoinMart (MCM)

Category: Market Reports
Author Name: Roy Friedman
Posted: 10-24-2014 03:51:00 PM

Precious metals are being dominated by technical factors at the moment as geopolitical events and economic data are being discounted by market participants that are happy to "trade the range."

Precious metals are being dominated by technical factors at the moment as geopolitical events and economic data are being discounted by market participants that are happy to “trade the range.” This week’s trading activity is a good example, as gold and silver failed to hold $1,250.00 and $17.50 selling quickly entered the market. Physical demand picked up during the sell-off and silver holding $17.00 appeared to be the catalyst for short term traders to lock in profits.

U.S. equities continue to hold the page one headline as the incredible volatility continues. Barring a sell-off today, the U.S. market will record a weekly gain for the first time in a month. The settlement price for gold and silver could be critical today as a close above or below the 10-day moving average in gold at $1,238.90 and $17.35 silver could signal the direction the market takes next week.

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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.

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.