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Week Opens in Trading Range

Week Opens in Trading Range
Category: Market Reports
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Posted: 03-14-2016 12:43:00 PM

At the time of this report (5am eastern, as I head into New York City to visit a few clients), we see a slightly stronger dollar ahead of the Fed meeting March 15-16.

We open the week in a trading range, as we witnessed strong ETF inflows on Friday in all four precious metals.

Some financial advisors report that retail investors continue to reposition a percentage of their portfolios into metals, as some investors believe negative interest rates will have a direct impact on higher metal prices.

At the time of this report (5am eastern, as I head into New York City to visit a few clients), we see a slightly stronger dollar ahead of the Fed meeting March 15-16. Almost everyone is expecting the Fed to keep interest rates unchanged. Everyone will now focus on the language that is shared with us after the meeting.

As I indicated in my last comment, in my opinion and the opinion of my tech friends, the $1,246 level in gold must hold in order to give the market confidence that higher gold prices are in the cards. Resistance on the upside is at $1,284.80 and if we break above that number, $1,300 is not far away.

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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.

What are your thoughts? Week Opens in Trading Range