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Weakness in the U.S. Currency

Weakness in the U.S. Currency
Category: Market Reports
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Posted: 12-09-2015 01:05:00 PM

For once the retail demand in silver has the Wall Street traders’ attention as they use that level for support in all their trading strategies.

Dollar index below 98 and Euro rally this morning has given Gold a bid to the upside. Gold approaching the higher end of the recent trading range < $1,070 to $1,090 >, as sellers yesterday failed to push gold below its support level at $1,068.20.

Everyone still looking for the magical $1,100 level to be reached. In the absence of a FED rate hike next week, the only other vehicle that could propel gold above the $1,100 dollar level in my opinion would be a continued weaker dollar.

Silver also enjoying a bid off the soft dollar this morning, but still a bit away from its highs earlier in the week. Silver demand for product eased a little this week as the premiums for product traded slightly lower after the mint allocation number was announced on Monday. The $14.00 level seems to be set in concrete for the time being as retail investors support the level with good buying any time we approach that number.

For once the retail demand in silver has the Wall Street traders’ attention as they use that level for support in all their trading strategies.

Oil, as well as all the metals painted in green colors today.

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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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