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Tracking the “Market Pulse”

Tracking the “Market Pulse”
Category: Market Reports
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Posted: 11-24-2015 04:20:00 PM

Four weeks is a very long time in any market and anything can happen, so we always evaluate our position every day. But as your Gold reporter, I scour the markets every day for any bit of information that I believe would excite your clients, good or bad. 

With over four weeks to the next FOMC meeting and no significant news to report, the markets just continue to be in a pause mode.

 

As I said in the past, I’m not a guy who relies on the charts, but I must give credit where credit is due to my technical pals who said $1,073 would be the first level of support in the gold market on the downside. Kudos to them! At $1,073 in December futures, we saw good bids, so the market bounced off that number and then settled back into its boring trading range.

For those who follow open interest figures, gold opening interest figures for the last 2 days are down 12,000 contracts indicating more longs getting out of the market. Continued Gold ETF redemption figures can’t be ignored as investors give up on any appreciation in the price of the yellow metal.

Coin premiums continue to be small even with most mints still on allocation. Dealers are lowering premiums just to keep clients happy and at the same time trying to keep their piece of the pie. Refiners reporting business as usual with no new orders on the horizon that would excite the management team. Producer’s contract negotiations for next year’s month by month production is in full swing, with no sign of easing premiums on their products due to the falling price of the metal.

Four weeks is a very long time in any market and anything can happen, so we always evaluate our position every day. But as your Gold reporter, I scour the markets every day for any bit of information that I believe would excite your clients, good or bad. It seems I’m just wearing out the soles of my shoes these days. So to reward myself every Friday I wear Sketchers to work. Black for those who are curious.

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About The Author

Walter Pehowich 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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