Dollar Stronger on Fed Comments

The Market Gage - Dillon Gage's Precious Metals Newsletter

Friday’s comments by Federal Reserve Vice Chairman Stanley Fischer have strengthened the dollar and put pressure on the price of gold this morning.

He indicated that the U S economy has strengthen, with strong jobs data in the last three months. He had seemed to hedge his bet that rates will be on the table at the September meeting by saying, “the problem with this economy is there is so many numbers each day. You have to try and figure out what is the main thrust of what’s going on in the economy.”

Continue reading “Dollar Stronger on Fed Comments” »


Gold Goes Volatile

Dillon Gage - Flash Market Update

The price of gold extremely volatile as Yellen’s comments hit the wires.

CME Fed watch tool which predicts a possible rate hike at the next Fed meeting in September dropped after her comments from a 21 pct. chance of a rate hike to 18 percent rallying gold and equities.

Headlines:

  • Solid growth in household spending
  • Fed needs to retain new tools from crisis
  • Fed has tools to fight the next recession
  • Interest on reserves to play a key role for years
  • 2 trillion QE could fight next recession
  • Anticipated gradual rate hikes appropriate if data suggests
  • Fed should research price level targets

It’s the same old story with a twist. The Fed always wanted to have a cushion to cut rates in the event that the economy takes a turn for the worst. That’s why many of the voting members wanted a rate hike. Now it seems that they are in better position to fight a failing economy, so it’s not so urgent to raise rates because of the tools available to them now.

So, if you read between the lines and interpret what she meant, in my opinion, it was to give the market a signal that all is well, but not great with the economy and we will not raise rates unless the data is convincing, Period.

In turn gold is up $ 20 dollars after being slightly negative as her comments were being released.

Have a wonderful weekend.

Disclaimer: This editorial has been prepared by Walter Pehowich 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


American Eagle Sales as of 8/25/16

U.S. Mint Year to Date Sales of Silver and Gold American Eagles

The following chart includes the year to date totals from the U.S. Mint as of 5pm on August 25th. Changes below reflect the sales since our last report on August 19th.

Gold
Coin Sales in oz. /#coins + from 8/18/2016
One oz.
473,500
473,500
9,000
9,000
Half oz.
25,500
51,000
500
1,000
Quarter oz.
25,000
100,000
500
2,000
Tenth oz.
60,500
605,000
1,500
15,000
Total
584,500
1,229,500
12,000
27,000
Silver
Coin Sales in oz. /#coins + from 8/18/2016
One oz.
28,630,500
28,630,500
480,000
480,000

Gold Motionless In Advance of Jackson Hole Summit

The Market Gage - Dillon Gage's Precious Metals Newsletter

The price of gold virtually motionless as the market awaits some news from Federal Reserve chair Janet Yellen’s speech Friday at Jackson Hole.

For those who are not familiar Jackson Hole, it is typically a mountain resort for skiers and mountain climbers. Every summer it turns into the site of an exclusive conference of central bankers who are responsible for global monetary policy.

The title of this year’s conference is: Designing Resilient Monetary Frameworks for the Future. I’ve asked a few prominent Wall Street traders to shed some light on what that might mean and most said they have no clue.

I have heard the same response from many traders when asked if the FED is in touch with reality and their response was the same “it seems they no clue on what to do regarding a rate change.”

So it’s no surprise that the price of gold remains motionless as we wait for the Fed Chair’s comments.

CME’s FEDWATCH Tool gives just a 24 pct. chance that a rate hike will happen at the September Fed meeting.
November’s meeting is showing a 29 pct. chance and December a 52 percent chance.

No wonder the Gold ETF market has been flat for the past week or two with no significant moves either way
with inflows or redemptions.

Many news guests on CNBC, FOX and Bloomberg have also expressed their frustrations with Fed policy.

If you remember I reported on a Flash Gage last week that it seems after reviewing the minutes from the last Fed meeting, voting participants are split down the middle trying to decide if a rate hike is appropriate.

It seems that the only news that moves the price of gold these days are stories of a possible rate hike. Whatever happened to supply and demand issues and inflation worries?

As I’m in the process of completing my comment this morning, I see the price of gold break thru the important level of support at $1,332 in the December contract down $ 14 .00 quickly from when I started this report so I’m scrambling to find the news that created this sell off.

Looking at times and sales it looks like at 8:40 Eastern time, someone sold 10,000 contracts of December gold causing the market to drop $ 14.00. Looking at all the news wires available to me I find NO news that would justify that sell off.

If any significant news is released I will be right back with a Flash Gage report.

Have a wonderful Wednesday.

Disclaimer: This editorial has been prepared by Walter Pehowich 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


Gold Starts Week on Two-Week Low

The Market Gage - Dillon Gage's Precious Metals Newsletter

The price of gold starts off the week at a two-week low. A stronger dollar and recent conversations with some Fed presidents have taken the “bull” out of the market for the short term.

Some domestic refinery employees I spoken with say, “inventories on some products are building on the shelves and not moving, so to increase our cash flow we have no choice but to drop premiums.”

Far East selling overnight has pushed silver below the $ 19.00 level, as bidders in the gray metal seem to be avoiding the market because of the lack of demand seen for physical products. Some silver traders have adopted a wait and see position before jumping back into the market.

Looking at the United States mint website, it’s clear how slow the Silver Eagle demand has been over the last few months. Let’s look at the numbers:

  • May 2016: 4,498,500 one ounce coins sold
  • Jun 2016: 2,837,500 one ounce coins sold
  • Jul 2016: 1,370 ,000 one ounce coins sold
  • Aug 2016: 580,000 one ounce coins sold (Thru Aug.18th)

In comparison from the same months last year:

  • May 2015 2,023,500 one ounce coins sold
  • Jun 2015 4,840,000 one ounce coins sold
  • Jul 2015 5,529,000 one ounce coins sold
  • Aug 2015 4,935,000 one ounce coins sold

Comparing the last three full months year to year, the United States Mint has seen a decline of 30 percent and August 2016 sales looks like it’s shaping up to be down 77 percent from Aug. 2015.

So to say a cloud has developed over the market might be an understatement, but one always has hope that in the end, negative interest rates, a possible meltdown of economies in Europe and the effect here at home of our presidential election will boost the price and start up demand in our markets once again. Remember these days, a rally back in the price of Gold and Silver is virtually
a news story away.

Have a wonderful Monday.

Disclaimer: This editorial has been prepared by Walter Pehowich 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


Gold’s “Medical” Prognosis

The Market Gage - Dillon Gage's Precious Metals Newsletter

So far this year, speculative demand in the ETF arena along with central bank purchasing of gold has driven gold up from the lows in December of $1,046 to where we are trading today in the $1,340 area.

Those investors who had insight and bought on the lows are a very happy group, but the question remains now, where do we go from here? Some gold market watchers have reported seeing gold in a hospital emergency room in cardiac arrest.

The doctors have called for any member of the FOMC Committee to perform CPR, but no one at the FED could find a GPS device to locate the hospital. So the doctors have requested the electronic inflation pads to shock Gold, but it seems the available voltage is too low to make an impact. Meanwhile, the chants from all the metal dealers outside the hospital yelling “don’t let her die, don’t let her die,” have reached the ears of the doctors in the ER.

Oh look, it’s Donald Trump and Hillary Clinton arriving at the hospital.

I feel better already, I’m sure one of them can help gold recover. No, no, let’s not debate on what course of action to take. Look at those two who can’t agree on anything. The Doctor has determined to keep gold alive they will have to put her on life support ’til November.

Have a wonderful Friday.

Disclaimer: This editorial has been prepared by Walter Pehowich 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


American Eagle Sales as of 8/18/2016

U.S. Mint Year to Date Sales of Silver and Gold American Eagles

The following chart includes the year to date totals from the U.S. Mint as of 5pm on August 18th. Changes below reflect the sales since our last report on August 12th.

Gold
Coin Sales in oz. /#coins + from 8/11/2016
One oz.
464,500
464,500
7,500
7,500
Half oz.
25,000
50,000
1,000
2,000
Quarter oz.
24,500
98,000
500
2,000
Tenth oz.
59,000
590,000
1,500
15,000
Total
562,500
1,202,500
10,500
26,500
Silver
Coin Sales in oz. /#coins + from 8/11/2016
One oz.
28,150,500
28,150,500
455,000
455,000

FLASH GAGE – FED Minutes Released / Gold Reacts

Dillon Gage - Flash Market Update

Just flip a coin you might have a better chance predicting what will be the outcome at the next FED meeting. Minutes from the last FED meeting just released reveals:

  • FED open market participants split down the middle on whether a rate hike is needed soon.
  • Some voting members saw rate hike warranted soon.
  • Some officials wanted to wait for more data before agreeing to a rate hike.
  • Members saw low inflation risk from strong job gains.

      Initially on this news, we viewed a knee jerk reaction in the price of gold. Probably algorithm programs lighting up the board, down $ 15 dollars in an instant. Once all the news was absorbed by the market we are right back to where we were just before the report.

      This debate reminds me of the comic short film with Abbot and Costello: WHO’S ON FIRST?

      Enjoy the rest of your day.

      Disclaimer: This editorial has been prepared by Walter Pehowich 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


Gold Trading Holding Its Breath Prior to FOMC Minutes Release at 2 pm

The Market Gage - Dillon Gage's Precious Metals Newsletter

Gold opens up the trading day awaiting the release of the latest FOMC minutes at 2pm Eastern time today. Gold still sitting in a trading range as most Wall Street gold traders enjoying some time off in the Hamptons.

CME Fed tool watch, a barometer of the odds of an expected rate increase before the minutes are released show:

  • A rate hike in Sept. at 15 percent
  • A rate hike in Nov. at 16 percent
  • A rate hike in Dec. at 53 percent

The December assessment goes along with the comments made yesterday by Atlanta Fed President Dennis Lockhart who indicated he will support at least one rate increase before the end of the year. He believes, or shall I say he hopes, to see a strong third Quarter GDP figure which in turn will be just the data needed to increase rates at the December 14th meeting.

Most of the business’s new channel reporters are expressing frustration over the “do they or do they not raise rate signals” given by various Fed Presidents. Some are calling for “let’s just get it over with as we are all tired of reporting this madness.”

Equities hit all-time highs this week and job growth is strong, so just raise rates a quarter in Sept. and relieve all of this suspenseful nonsense and let the market do what it does best, trade on earnings and fundamentals.

It’s time to hear the news that’s not reported on the TV that will have a major impact on the price of gold going forward. As I indicated before, I expect the spark that will trigger a major rally in the price of gold will come from Europe.

  • The Migrant crisis continues to invade all parts of Europe. In Greece, Save the Children reports the number of migrants arriving in the Greek Islands has nearly doubled in recent weeks, putting pressure on already overcrowded camps.
  • A report today that the Swiss-Italian border frontier is becoming the flashpoint in Europe’s migrant crisis. Families looking to cross the border are being turned away, living without shelter, food and no sanitary facilities. Human right groups have called for clarifications from Switzerland over migrants claims that they have been denied a chance to speak to boarder authorities about asylum law. In essence the Swiss border is closed.
  • German also has its hands full with reports from INTEL that ISIS “hit squads” had entered into Germany with the hordes of migrants and there is irrefutable evidence that they are building an undercover command post planning the next attack.

So when do you think there will be a total uprising in countries like Germany and France? Folks are sick and tired of this, and as some call it an invasion into their country. There is no doubt in my mind that this was the main reason the BREXIT vote went the way it did.

Conflicting cultures, unemployment, lack of housing, no jobs, all fuel the fire between locals and migrants. Looks like government officials have no clue how to handle this crisis. So in my opinion, an economic crisis in Europe is right around the corner. The question remains what will be the catalyst that sparks the fury? A major terrorist attack? A civil uprising in France or Germany?

All this news just gives more credence that owning physical gold is a wise move for any informed investor.

Have a wonderful Wednesday.

Disclaimer: This editorial has been prepared by Walter Pehowich 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


Gold Price Off to Quiet Start

The Market Gage - Dillon Gage's Precious Metals Newsletter

The price of gold starts off the week on a quiet note. A lack of economic news around the globe causing light volume this morning in the CME gold and silver futures. Dollar index close to unchanged this morning also helps to keep the price of gold steady.

The commitment of traders report released Friday showed the funds reduced their net long position by 7,736 contracts week ending August ninth. Position reported 9,930 contracts of long liquidation and 1,594 contracts of short covering. Seems to me that some funds are getting impatient with the price of gold consolidating at these levels and so they are flattening out some of their positions to find a better place to invest their dollars.

The gold ETF market had small inflows on Friday and silver reported some redemptions.

Silver also sitting in a trading range with the price slightly higher on light volume.

Overall just a quiet summer Monday to start the work week.

If you read my report on Friday, you’ll remember one trader sang a song to me to indicate where he thought the market was going: “See you in September”

Well here’s my song for today. Let’s all join in:

Roll out those lazy, hazy, crazy days of summer
Those days of soda and pretzels and beer
Roll out those lazy, hazy, crazy days of summer
Dust off the sun and moon and sing a song of cheer.

Have a wonderful Monday.

Disclaimer: This editorial has been prepared by Walter Pehowich 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


Gold and Silver Feeling Pressure from Short Day Traders

The Market Gage - Dillon Gage's Precious Metals Newsletter

All-time highs in the Dow, S&P and Nasdaq yesterday. Highest settlement in crude yesterday since July 22nd.

Overseas money still dominates the inflows into equities looking for yields and dividends and that’s just what they are getting. The question remains, can this continue or have we reached the top.

The price of gold and silver is feeling the pressure from the short day traders as they know that no one will stand in their way and bid the market up. So the shorts will have their way with their trading strategy until something changes. The 8:30 am government data could bring a STRONG bid back if numbers surprise, which in turn will cause the day traders shorts to cover immediately.

Some retail internet dealers have been sharing that their market is so very quiet that an immediate vacation is in order. One character started singing the song, “See you in September”. Not very funny, I’m not amused. I enjoy a busy market.

So as the market looks for a support level to hang its hat on, I turn to my technical friends to fill the gap for me. Gold’s first level of support below is not until $1,332 in the December futures contract and silver must hold the $ 19.48 level also in December for the markets to still hold an upward future trend. Some Wall Street traders are still looking for any pullback in the price of gold to jump back in. I would take the same stance as I believe holding physical gold for the long term is a must for any balanced portfolio.

For those who understand the CME Gold and Silver future spreads an interesting play has developed in the September / December Silver switch. The CME Sep / Dec switch as we call It, is currently yielding 2.4 percent. I find it very interesting because interest rates are virtually zero. So for the players who want to hold on to their long silver positions in futures, it’s costing them a nice piece of change to do so.

What I believe is happening, is the funds are rolling their long holding positions in silver and the speculators are making them pay up to do so by widening the spread. Government regulations have eliminated the banks from playing in this market, as they have big time in the past. So all you now have are the hedge funds holding their long positions in a bull market and the speculators who know that the funds for the most part have to roll out their positions if they want to stay long and most believe the funds don’t really care if the Sept / Dec switch is trading at 2 cents or 12 cents like it is today.

Have a wonderful Friday.

Disclaimer: This editorial has been prepared by Walter Pehowich 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


American Eagles Sales as of 8/11/16

U.S. Mint Year to Date Sales of Silver and Gold American Eagles

The following chart includes the year to date totals from the U.S. Mint as of 5pm on August 11th. Changes below reflect the sales since our last report on August 5th.

Gold
Coin Sales in oz. /#coins + from 8/4/2016
One oz.
457,000
457,000
16,000
16,000
Half oz.
24,000
48,000
000
000
Quarter oz.
24,000
96,000
000
000
Tenth oz.
57,500
575,000
1,500
15,000
Total
562,500
1,176,000
17,500
31,000
Silver
Coin Sales in oz. /#coins + from 8/4/2016
One oz.
27,695,500
27,695,500
150,000
150,000

U.S. Productivity Slump/Weak Dollar Bolster Gold

The Market Gage - Dillon Gage's Precious Metals Newsletter

Gold prices seen rallying this morning off a weaker dollar and off a report of weak economic data that was released yesterday. The U.S. Labor Department showing second quarter productivity in the U.S. falling 0.5 percent, its third consecutive quarter of decline.

That’s not what the FED Presidents were hoping for after a strong job number was released last week.

Mixed economic data will continue to handcuff the FOMC from raising rates anytime soon, which in turn
supports the continued rally in the price of the yellow metal.

Silver is enjoying her sister’s success this morning, as strong buying was reported from some Far East traders overnight.

South African Platinum miners’ wage negotiations intensify as its becoming as one observer put it, “starting to get ugly,” so violence is not out of the question. As the labor negotiations seem to grow further apart every day since beginning in July, we see the price of both platinum and palladium experiencing strong rallies. The price of platinum this morning, not seen at these levels since April last year and palladium since June last year.

I always like to watch the ETF market as it gives the investor a good look at what a large group of individuals are thinking about the precious metals markets. Overnight we witnessed a small increase in gold and a small decrease in silver holdings. With today’s strong rally in all four metals I think you will see inflows across the board reported tomorrow. Buyers in the ETFs, for the most part, were responsible for the increase in the price of gold this year.

Let’s take at look at news over the pond that can affect the price of gold long term.

Turkish President Erdogan’s recent threat to re-open migrant routes into Europe from Turkey yesterday, will mean a possible 3 million more migrants heading into Europe. Just what Germany and France need right now after Brittan’s vote to say goodbye to the EU in the Brexit vote. There are 2.8 million Syrian refugees in Turkey without counting the thousands of Iraqis and Afghans currently in Turkey, all fleeing the horrible conditions in their countries. The fact remains, how in the world will the EU be able to support these poor families with employment, housing and food? And let’s not forget something that’s equally important are the issues with conflicting cultures living side by side. The question remains, in the near future, will this turmoil result in an economic crisis hitting all of Europe? In my opinion it HAS to be a GREAT concern for the powers to be of both France and Germany. There are so many issues that need to be addressed in the European Community, and NO-ONE seems to have any answers.

The smart long term gold investor will take into account all these worldwide news items and have the ability to make a smart decision in determining what percentage of his or her portfolio should be in physical gold or silver.

Have a wonderful Wednesday.

Disclaimer: This editorial has been prepared by Walter Pehowich 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


2016 Has a Silver Lining

The Market Gage - Dillon Gage's Precious Metals Newsletter

While it seems that the financial media is rightfully focusing on the uplift in the gold market, let’s not leave silver back at the proverbial train station. Silver, in fact, has done even better YTD in 2016. While gold is up approximately 27% YTD, silver has rocketed up in value over 44% YTD. Many investors are happy to use silver as a hedge against any future volatility in the gold market. One precious metal protecting another can elicit an amazing outcome.

It’s not just physical silver that’s catching investor’s eyes. The silver exchange traded fund (ETF) market has had a record-setting amount of activity so far in 2016, what we call “inflow.” ETF holdings in ounces have jumped from 43 million ounces to 662 million—a record high. Net long position of COMEX silver futures are also skyrocketing, from over 6,200 contracts at the close of 2015 to around 80,000. Now that’s a shiny silver lining if there ever was one!

In the coin market, interest in silver is up almost 30% over 2015—which was a record-setting year of its own. Portfolio diversification is a great fit for silver due to its fundamentals.

This Morning’s Market Snapshot

After taking a hit on Friday from the positive U.S. Jobs reports, all four metals managed to find and maintain a :

  • Gold– Slightly off Friday, but still I the mid-$1,330s
  • Silver– After dipping about $.20, Silver has regained its berth in the mid-$19.80s
  • Platinum– This is the lone metal that has almost regained its pre-Jobs report level and is sitting at the mid-$1,150s.
  • Palladium– This metal has struggled a bit dipping to $690 overnight, currently hovering at $695.

Here’s hoping your week gets off to a wonderful start…

Walter Pehowich is on vacation, so today’s commentary was compiled by Dillon Gage Staff.

Disclaimer: This editorial has been prepared by the staff 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


American Eagle Sales as of 8/4/2016

U.S. Mint Year to Date Sales of Silver and Gold American Eagles

The following chart includes the year to date totals from the U.S. Mint as of 5pm on August 4th. Changes below reflect the sales since our last report on July 29th.

Gold
Coin Sales in oz. /#coins + from 7/28/2016
One oz.
441,000
441,000
6,500
6,500
Half oz.
24,000
48,000
000
000
Quarter oz.
24,000
96,000
000
000
Tenth oz.
56,000
560,000
500
5,000
Total
545,000
1,145,000
7,000
11,500
Silver
Coin Sales in oz. /#coins + from 7/28/2016
One oz.
27,695,500
27,695,500
75,000
75,000

Jobs Report Bursts A Strong Precious Metals Week

The Market Gage - Dillon Gage's Precious Metals Newsletter

It’s Friday, and up until this morning’s jobs report (more on that later), the week just kept getting better and better in the precious metals market. Yesterday saw news reports both at home and abroad predicting the continued strength of gold as an investment.

Let’s start overseas as we continue to see sustained fallout from England’s Brexit decision back in June. It’s a pretty gloomy financial outlook for Britain, as the Bank of England just slashed its main interest rate down to 0.25%–a record low. In response, the Bank has begun quantitative easing procedures of its own by expanding government bond purchases. So far, the Sterling has dropped another 1.5% in value, but spot gold shot up 0.5%.

Outlooks such as this one continue to prop up gold on the global stage. As of this writing, fully one quarter of all global bonds are offering negative yields. Many experts are openly predicting a steady march of $1,500 per ounce over the next six months. And with gold up 29% YTD, it sure seems possible that this ride will continue.

Lastly, geopolitical events around the world are still causing enough regular concern to continue lifting gold to new heights. What we’re seeing is this–the demand in the global currency markets has so far allowed gold to witness the biggest rally in U.S. dollar terms since 2008. That’s big.

BUT now for the big news on America’s shores this morning. U.S. job numbers are in and they are big. The Labor folks report 255,000 new jobs for July, a much stronger rate from just two months ago. To put into perspective how big a surprise this is to the experts, economists in a Reuter’s poll had predicted an increase of just 188,000 for July. And this is the second straight month of job growth. All eyes and ears will be on Janet Yellen later this month when she addresses the Jackson Hole monetary policy symposium as this sustained growth is once again inspiring talk of an interest rate hike later this year.

The precious metals market responded to news by stepping off their strong numbers. Here’s a look at the stats:

  • Gold-The yellow metal dipped more than $10 an ounce. Currently holding in the mid 1,340s
  • Silver-The metal is sticking its toe below the $20 mark, a place it has rarely visited over the past month.
  • Platinum-Another metal that dipped more than $10 when the jobs report was announced, but it is still hanging tough well above $1,100
  • Palladium-After spiking above $700, Palladium slumped this morning to just below that number on the jobs news.

Have a wonderful weekend and stay tuned…

Walter Pehowich is on vacation, so today’s commentary was compiled by Dillon Gage Staff.

Disclaimer: This editorial has been prepared by the staff 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


A Lot of This Week’s Data Could Impact Gold

The Market Gage - Dillon Gage's Precious Metals Newsletter

The price of gold slightly lower this morning after settling yesterday at a two-year high. There’s a lot of market data to be absorbed later this week that could have an impact on the price of gold.

First off is Thursday’s Bank of England’s meeting. The BoE is expected to cut interest rates for the first time in seven years. The reason is the disappointing UK economic data of late, following the U.K.’s vote to leave the EU. The market is expecting the BoE’s Monetary Policy Committee to deliver a message that easing is necessary to counter the economic hit experienced after the Brexit-vote. The last time the BoE had a rate change was March 2009, when the decision was made to lower the rate to 0.5 percent during the worldwide financial crisis.

ADP jobs report released this morning shows an increase of 179,000. The National Employment report is a measure of non-farm private sector employment figures. This report had no effect on the price of gold this morning.

The market also awaits Friday’s U.S. employment figures. Many market participants question the accuracy of these numbers as seen in May only 38,000 jobs were created then in June 272,000. What caused the big difference month to month? The instant the May job number was released, reported way below the streets expectations, we saw gold rally $26 dollars in a blink of an eye. So many professional gold traders will just wait till the numbers are released on Friday before taking a position again.

Have a wonderful Wednesday.

Disclaimer: This editorial has been prepared by Walter Pehowich 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


Dollar Index Drop Boosts Gold

The Market Gage - Dillon Gage's Precious Metals Newsletter

The price of gold opens up the trading week slightly lower on light trading volume overnight. Gold received a boost last week from a weaker dollar index. The dollar index fell Friday to 95.38, the lowest since July 5th this year.

Second quarter GDP reported at 1.2 percent, way below the estimate of 2.6 percent. This report continues to weaken the FED hands on the prospect of raising rates anytime soon. So in turn, with that news and the weaker the dollar, the price of gold rallied to current levels seen today. Now with no pending news for the market to digest, I expect gold to trade in a tight range again at these levels.   

 Silver still well supported over the $20 dollar level, even with many dealers sitting on excess inventory. Dealers continue to lower their bids on silver products, as some indicated this morning they are holding more inventory then they want to. As the market experiences the summer doldrums, I expect dealers will be lowering their bids further as some indicate enough is enough. Lowering their bids to unattractive levels will result in clients looking elsewhere for better prices. That’s a strategy that might come back to haunt them, but in some cases they have no choice.

The price of oil is on a slippery slope once again as some traders are expecting the price to test the $ 40 level. IEA (the International Energy Agency) reported that they estimated the second quarter 2016 worlds’ oil supply of crude exceeded demand by 200,000 barrels a day.   A strong case for lower prices is ahead.  

A couple of Wall Street Gold traders I spoke to this morning tell me they  will be trading oil today instead of gold. As one guy put it, trying to be funny, “I’m going in for an oil change today.” The traders I spoke with believe that with the attractive volatility, trading oil seems more exciting and will give them better opportunities to make a short term profit.

 Have a wonderful Monday.

Disclaimer: This editorial has been prepared by Walter Pehowich 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


Bank of Japan Disappoints The Market

The Market Gage - Dillon Gage's Precious Metals Newsletter

Bank of Japan disappoints the market this morning after announcing it has eased its monetary policy by increasing its purchases of exchange traded funds, but left interest rates unchanged. This news turned out to be a non-event mover for the price of gold. As I start to write this report this morning, we see the price of gold virtually unchanged, at the so called technical tight rope at the $1,332 level.

Continue reading “Bank of Japan Disappoints The Market” »


American Eagles Sales as of July 29, 2016

U.S. Mint Year to Date Sales of Silver and Gold American Eagles

The following chart includes the year to date totals from the U.S. Mint as of 5pm on July 28th. Changes below reflect the sales since our last report on July 22th.

Gold
Coin Sales in oz. /#coins + from 7/21/2016
One oz.
434,500
434,500
6,000
6,000
Half oz.
24,000
48,000
000
000
Quarter oz.
24,000
96,000
500
2,000
Tenth oz.
55,500
555,000
2,500
25,000
Total
538,000
1,133,500
9,000
33,000
Silver
Coin Sales in oz. /#coins + from 7/21/2016
One oz.
27,620,500
27,620,500
175,000
175,000

Precious Metals Quiet This Morning Ahead of Fed Decision

The Market Gage - Dillon Gage's Precious Metals Newsletter

Metal markets are quiet this morning ahead of the Fed decision at 2pm EDT today. With little chance of a rate hike this afternoon, the market awaits to hear the comments from the Fed committee. With all the encouraging economic data of late, we expect the committee to express a hawkish tone which would increase the chance of a rate hike in September. I still believe that even with some encouraging economic data, the Fed will be hard pressed to raise rates anytime this year with the rest of the world’s economies struggling at best.

Continue reading “Precious Metals Quiet This Morning Ahead of Fed Decision” »


Gold Declines for the Second Week

The Market Gage - Dillon Gage's Precious Metals Newsletter

Gold net long spec positions declined for the second week in a row as more nervous longs head for the exit. On the positive side of the ledger, in the last two weeks ETF’s inflow continue in gold, but at a slower pace. Nonetheless gold trades at a 4-week low this morning as some Wall Street Traders are calling the gold market to test the $1,300 dollar level ahead of the Fed meeting later this week.

Continue reading “Gold Declines for the Second Week” »


Consolidation, Sideway Trading…Boring?

The Market Gage - Dillon Gage's Precious Metals Newsletter

Depending on who you are, whether a trader or investor in this market, we all use different terms to describe this type of price movement in gold. Technical traders call it consolidation, fund managers call it sideway trading and financial advisors call it boring.

Whatever term you prefer to use, the bottom line is the market is just sitting here looking for a direction. So the question remains, what bit of news would propel the market in one direction or the other?

Continue reading “Consolidation, Sideway Trading…Boring?” »


American Eagles Sales as of July 21, 2016

U.S. Mint Year to Date Sales of Silver and Gold American Eagles

The following chart includes the year to date totals from the U.S. Mint as of 5pm on July 21st. Changes below reflect the sales since our last report on July 15th.

Gold
Coin Sales in oz. /#coins + from 7/14/2016
One oz.
428,500
428,500
7,000
7,000
Half oz.
24,000
48,000
1,000
2,000
Quarter oz.
23,500
94,000
1,000
4,000
Tenth oz.
53,000
530,000
1,500
15,000
Total
529,000
1,100,500
9,500
26,000
Silver
Coin Sales in oz. /#coins + from 7/14/2016
One oz.
27,445,500
26,445,500
500,000
500,000

Everything You Need to Know about Rio’s Olympic Medals

Olympic2016
Dillon Gage Metals Talks Size, Composition and Value

ADDISON, TEXAS (July 21, 2016) – Dillon Gage Metals, an international precious metals wholesaler, is ready to educate the public on everything they need to know about the Olympic medals slated to be awarded at the 2016 Summer Games in Rio. And some of the facts may surprise you.

For openers, there’s the composition breakdown on the precious metals in each medal. The gold medals awarded to the best of the best are pretty much gold in name only. In reality, 92.5 percent of their composition is actually silver. Only one percent is actual gold (plated) with the remainder made of bronze. Silver medals are 96 percent silver and the bronze medals are approximately 97 percent copper.

Continue reading “Everything You Need to Know about Rio’s Olympic Medals” »


Stronger Dollar Pressures Gold

The Market Gage - Dillon Gage's Precious Metals Newsletter

The price of gold under pressure this morning due to a stronger dollar. The dollar index hitting 97.32 this morning, the highest level since March. A continued rally in the equity markets also pressuring the price of gold.

Recent strong job numbers and June housing data (reported up 4.8 percent) gives the Fed a strong case for raising rates at the next Fed meeting.

Scheduled European Central Bank meeting tomorrow and the expectation is that they will leave their policy unchanged.

Some Wall Street Gold traders this morning indicated that they expect gold to test the $ 1,300 dollar level. One trader also shared, in his opinion, that in the event the Fed comes in and raises rates at the next Fed meeting, the bull market will cease to exist and the $1,300 dollar level will become a distant memory.

I can’t disagree. A rate hike is the last thing people holding a long position in gold want to see. Nonetheless, we still see inflows in the ETFs. Overnight, all four metals increased their positions. This is becoming a very interesting market. If the economic data continues to be upbeat, the longs will have a tough time holding on to their positions and I expect a strong
move to the downside in the price of gold will be in order.

Have a wonderful Wednesday.

Disclaimer: This editorial has been prepared by Walter Pehowich 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


American Eagles Sales as of 7/14/2016

U.S. Mint Year to Date Sales of Silver and Gold American Eagles

The following chart includes the year to date totals from the U.S. Mint as of 5pm on July 14th. Changes below reflect the sales since our last report on July 8th.

Gold
Coin Sales in oz. /#coins + from 7/7/2016
One oz.
421,500
421,500
10,000
10,000
Half oz.
23,000
46,000
000
000
Quarter oz.
22,500
90,000
500
2,000
Tenth oz.
51,500
515,000
500
5,000
Total
519,500
1,074,500
12,000
19,000
Silver
Coin Sales in oz. /#coins + from 7/7/2016
One oz.
26,945,500
26,945,500
445,000
445,000

Equity Market Uptick Pressures Gold

The Market Gage - Dillon Gage's Precious Metals Newsletter

Gold under pressure yesterday as money from overseas investors poured into the equity markets. New record highs in the Dow and SNP quickly caused a selloff in the yellow metal as investors joined the momentum in equities looking for better returns.

Today our markets seemed to have settled down a bit as we see good buying in Gold emerge at the $1,330.00 level.

Financial advisors are flooded with equity orders and now we are witnessing outflows in the Gold ETFs, temporarily changing the direction of the funds. The Silver ETF investor seems to be ignoring the interest in equities, so yesterday the Silver ETF holdings reached a new high for 2016.

Gold, as I indicated in my Monday blog, technically has to hold the $1,332 level or a further sell off is expected. Silver seems to have less pressure on the price, but if gold settles below the $1,332 support level I believe
the silver market will head lower also and I expect it will test the $19.96 support level again as it did last night. Kudos to my technical friends as they called the silver support level right on the mark in overnight trading.

Some Wall Street traders are indicating that they still continue to buy on any pull back in the price of Gold. It’s nice to hear that there are traders still confident that Gold can rebound even with the equity markets making new all-time highs every day.

Only time will tell if the equity market can maintain this momentum. Some financial advisors tell me there is a lot of cash on the sidelines, but the majority of the cash seems to be here in the States. If overseas money dries up or if poor equity earnings hit the headlines, a Gold rally will quickly be back on the table.

UK physical buying is slowing down as Theresa May gets set to become Prime Minister today. Her election has brought some calm to the UK as her conservative style sits well with most Brits.

Have a wonderful Wednesday.

Disclaimer: This editorial has been prepared by Walter Pehowich 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


Gold Still Bullish On ETF Support

The Market Gage - Dillon Gage's Precious Metals Newsletter

The strong job report on Friday didn’t change the continued bullish sentiment of the ETF gold investor. This morning we see a new high for 2016 in the Gold ETFs. A few Wall Street Financial advisors indicated today that they expect the strong job number will take some wind out of the sails of the ETF investor. I couldn’t agree more. What I’m looking for is the next catalyst that will bring the Gold market to new highs, but I am have trouble finding one.

I expect for the next week or two the Gold market needs to consolidate a bit at these levels before it can set a new high for 2016. Strong physical demand is still seen in the UK, but I expect that will fizzle out very soon. Far East investors are nowhere to be found according to traders there.

Dialing up my charting friends this morning to give us some levels to watch, (which by the way they also agree some consolidation in price is expected at these levels), tell me that their first level of support in gold is $1,348
and then $1,332. They indicated that the $1,332 level is a must hold otherwise a test of the $1,300 dollar level is back on the table. They do believe there is a sell bias in the market at this time and they expect the market will
test the first level to see if the market can hold there. They expect it will.

Silver needs the help of Gold to maintain her rally and here too there are technical levels to watch. The $19.96 level is the first level of support then $19.68, which is a must-hold level otherwise the market sentiment could change.

I for one believe a SLIGHT pull back is healthy for any bull market and this one is no different. Overall, after seeing a strong recovery on Friday an hour after the job report was issued, higher prices are still in the cards.

On another note: There are over 13 trillion dollars worldwide in government bonds now experiencing negative rates. Strong international investment into the U.S. is driving equity prices higher. With all the bad news out of Europe, investors turn to the U.S. to invest, even with our low yields on government bonds. International investor inflows of cash gives the equity market a false sense of utopia.

Second quarter earnings for the SNP 500 in 2016 begin this week and a decline of -5.6 percent is estimated. If this number comes to fruition, it will be the first time the index has recorded five consecutive quarters of year-over-year declines in earnings since Q3 2008 through Q3 2009.

So with all the uncertainties around the world, physical Gold is an important ingredient in any well balanced portfolio.

What’s in your safe deposit vault or precious metals depository?

Have a wonderful Monday.

Disclaimer: This editorial has been prepared by Walter Pehowich 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


Jobs Report Crushes Gold and Silver

The Market Gage - Dillon Gage's Precious Metals Newsletter

A huge rebound in the June Job numbers over the dismal report in May immediately crushes the price of Gold and Silver. 287,000 jobs created in June gives the Fed ammunition to bring rate hikes back to the table. This one bit of data is very important to the FED as the chairlady indicated May’s number was just an aberration. This one number doesn’t change the bullish sentiment of the market and in my opinion, as well as some of my Wall street gold trader friends, it has created a buying opportunity to participate in buying the yellow metal at more attractive levels.

I believe the gold and silver market overreacted to this one piece of data. I can’t deny the fact that the number was very impressive, but one piece of data should not have created such a selloff. As I was watching the activity in the futures market right after the number was released, it appeared to me that the nervous longs had stops in place to protect their profits.

This one number doesn’t change the fact the UK and all of the EU community continues to see a strong demand for the physical metal
and as more and more news comes out of the Brexit referendum, more and more individuals will see the need to have gold and silver in a balanced portfolio.

Still we can’t forget that the European Central Bank and the Bank of Japan have ventured into negative interest rate territory this year in hopes of stimulating their economies. Obviously it isn’t working as we see negative interest rates on sovereign bond exposure increase day after day. On a “what does it matter comment,” we see a huge increase in purchases of safes in Japan as more and more people lose faith in the banking system.

What does this all mean? It means that as good as this jobs number was today the FED cannot ignore what is happening around the world and would be hard pressed in my opinion to raise rates anytime soon. I expect after the hard selloff, a recovery in the gold price will be in order.

Have a wonderful Friday.

Disclaimer: This editorial has been prepared by Walter Pehowich 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


American Eagle Sales as of July 7, 2016

U.S. Mint Year to Date Sales of Silver and Gold American Eagles

The following chart includes the year to date totals from the U.S. Mint as of 5pm on July 7th. Changes below reflect the sales since our last report on July 1st.

Gold
Coin Sales in oz. /#coins + from 6/30/2016
One oz.
411,500
411,500
5,500
5,500
Half oz.
23,000
46,000
000
000
Quarter oz.
22,000
88,000
500
2,000
Tenth oz.
51,000
510,000
500
5,000
Total
507,500
1,055,500
6,500
12,500
Silver
Coin Sales in oz. /#coins + from 6/30/2016
One oz.
26,500,500
26,500,500
250,000
250,000

FLASH GAGE – Pay Attention at 2 pm EDT

Dillon Gage - Flash Market Update

Open interest Gold futures reported at an all-time high today at 662,840 contracts.

Meanwhile, Wall Street gold traders indicate that the market is overbought and are waiting to hear the minutes from the previous FED meeting. Some have indicated that a strong sell off is expected if any news out of the Fed meeting gives any indication a rate hike is back on the table.

I would recommend being close to the news services at 2 pm EDT when the Fed minutes will be released, as the market can react abruptly.

Let the trader beware. Better to be safe than sorry.

Regards

Disclaimer: This editorial has been prepared by Walter Pehowich 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


Gold and Silver Rally Continues Driven By ETF Demand

The Market Gage - Dillon Gage's Precious Metals Newsletter

The rally continues driven by a number of factors. First and foremost is the daily increase in the ETF funds.
Gold ETFs today posting a new high for 2016, holding almost 67 million ounces. Silver ETF holdings are at 641 million ounces, just shy of the high in early June when it reached 643 million ounces.

What I find significant and interesting is the reported physical demand for gold out of the UK. Gold is up 40 percent in Pound Sterling terms and prior to the Brexit vote, UK firms have reported strong physical demand. What is unusual, and I hope becomes a pattern here in the States, is who is jumping into the physical gold market. Historically the average investor has been a male over 50 years of age. Recently In the United Kingdom, the major investors have been young and a good number have been women.

Another significant factor in both the gold and silver markets is the reported all time high long spec positions. Some Wall Street gold traders have shared with me this morning their concerns that historically, with these reported positions, the markets are primed for a major selloff. However, every indication we see this morning is that the rally seems to be alive and well and continuing, even without Far East and India demand, as those markets for many reasons are not involved at all in the physical market at this time.

Federal Reserve minutes to be released this afternoon 2pm EDT. I expect we will hear how concerned the FED board was over the Brexit vote and what impact they expected it to have on the world markets. Chairwomen Ms. Yellen commented that the Brexit vote was a factor in leaving rates unchanged here in the States.

Just some other noteworthy points:

  • The World Gold Council reported Central Bank gold purchasing was almost 110 tonnes in the first quarter this year with the largest buyers being Russia and China.
  • A third of global government bonds are now trading at a negative yield giving gold a boost as investors see the yellow metal as a good investment and a must have as part of a balanced portfolio.

Have a wonderful Wednesday.

Disclaimer: This editorial has been prepared by Walter Pehowich 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


Precious Metals Wrap Up Strong Post-Brexit Week

The Market Gage - Dillon Gage's Precious Metals Newsletter

What a week it has been for precious metals. Brexit, Brexit fallout, the possibility of a Brexit reversal, suppressed crude oil prices, and not a Fed interest rate hike in sight. What more could we ask for? Of course, market turmoil is never a thing to wish for, but it does once again prove the worth of the ultimate safe haven investment – precious metals.

As for gold spot prices, the yellow metal is still trading well above $1,300 per ounce, but it’s the pundits who are calling for a new ceiling of $1,400 per ounce that gets our attention. If Fed Chair Janet Yellen remains dovish on rate hikes, We’ll handily agree with this assessment.

The other precious metals have had a very healthy week as well. As we go to press, silver is OVER $19 ($19.29 to be exact). Silver hasn’t breached $19 since Sept. 2014. The platinum group is also on the upswing with platinum at $1,049 and Palladium is at $602. To put this all in perspective, last Thursday, prior to the results of the Brexit vote, silver was at $17.30 (a rise of $2), platinum was at $965.80 (A bump of $83) and palladium was at $565.75 (a boost of $47).

It’s been a wild and wooly week in the global markets and one thing seems certain. We haven’t seen the last of it.

Have a wonderful weekend!


American Eagle Sales as of 6/30/2016

U.S. Mint Year to Date Sales of Silver and Gold American Eagles

The following charts include the year to date totals from the U.S. Mint for Gold and Silver Eagles as of 5pm on June 30th. Changes below reflect the sales since our last report on June 24th.

Gold
Coin Sales in oz. /#coins + from 6/23/2016
One oz.
406,000
406,000
16,500
16,500
Half oz.
23,000
46,000
500
1,000
Quarter oz.
21,500
86,000
000
000
Tenth oz.
50,500
505,000
8,000
80,000
Total
501,000
1,043,000
19,000
37,500
Silver
Coin Sales in oz. /#coins + from 6/23/2016
One oz.
26,250,500
26,250,500
998,500
998,500

Britain Cuts Out – Gold Takes Off!

The Market Gage - Dillon Gage's Precious Metals Newsletter

It’s official. In a stunning referendum vote, the U.K. decided to leave the European Union. It’s not what the pundits or poll watchers were expecting as the world woke up to the news on Friday. The effect on the global financial markets was both immediate and impactful.

Investors quickly moved, quite predictably, to the safe haven of precious metals. Gold smashed through the $1,300/oz. barrier—trading as high as $1,358.20/oz., its highest water mark in over two years. Some strategists are openly stating that the yellow metal will go even higher, perhaps over $1,400/oz.

Continue reading “Britain Cuts Out – Gold Takes Off!” »


Britain Exits – Gold Rush Enters

The Market Gage - Dillon Gage's Precious Metals Newsletter

Gold’s standing as a safe haven investment was strengthened overnight as the fallout from the Brexit vote swept the financial landscape. The final vote to leave came as a surprise to many as yesterday’s polls indicated a narrow victory for the “stay” vote.

Gold prices spiked above $1350 overnight, the highest level since March 2014. This sharp rise is no surprise when you read the following Brexit Vote financial highlights (or lowlights depending on your point of view):

  • The pound hit its lowest level since 1985, tumbling 11 percent before a slight recovery to trade 8 percent lower at $1.3704.
  • Britain’s FTSE 100 dove about 8 percent but recovered slightly for a 5 percent loss
  • Oil prices tanked, with the U.S. benchmark $2.24 lower at $47.87 a barrel
  • The German index down 7 percent
  • France’s index fell about 9 percent.
  • The Nikkei 225 closed down 8 percent, its biggest dive since the global financial crisis in 2008.
  • Five minutes after US markets opened, the S&P 500 had lost 1.6pc, Dow Jones traded 2.87pc lower and 3.25pc was wiped off Nasdaq – its worst drop since November 2011.

Needless to say, we are in the early stages of the aftermath of this momentous breakup. With the British PM David Cameron stepping down and Scotland eyeing ways to declare independence, it’s obvious this political upheaval will not calm down any time soon.

We will be back on Monday with more insights and data as we take a deep breath and watch for ANY of the dust to settle over the weekend.

Disclaimer: This editorial has been prepared by the staff 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


American Eagles Sales as of June 23, 2016

U.S. Mint Year to Date Sales of Silver and Gold American Eagles

The following chart includes the year to date totals from the U.S. Mint as of 5pm on June 23rd. Changes below reflect the sales since our last report on June 17th.

Gold
Coin Sales in oz. /#coins + from 6/17/2016
One oz.
389,500
389,500
11,000
11,000
Half oz.
22,500
45,000
1,000
2,000
Quarter oz.
21,500
86,000
1,500
6,000
Tenth oz.
42,500
485,000
2,000
20,000
Total
482,000
1,005,500
15,500
39,000
Silver
Coin Sales in oz. /#coins + from 6/17/2016
One oz.
25,252,000
25,252,000
1,006,000
1,006,000

Mid-Year Check of Precious Metals

The Market Gage - Dillon Gage's Precious Metals Newsletter

We’re six months into 2016 and it’s been quite a ride so far. Beginning in early February, gold prices took off and produced the biggest quarterly rally in the last three decades. Now having crested over $1,300 an ounce, we’re far above last December when gold’s spot price lagged at $1,057 per ounce (a five-year low).

Let’s take a look at spot price differentials for all four precious metals to gauge the 2016 year so far:

Metal Jan. 2016 Jun. 2016 Change
Gold
$1,061.90 $1,268.30 + 26%
Silver
$13.86 $17.31 + 20%
Platinum
$892.65 $986.40 + 10%
Palladium
$564.15 $560.70 – 1%

Another positive? These figures don’t take into account the level of increased interest in gold and silver-backed exchange traded funds (ETFs).

This week should see significant interest in precious metals on the global stage, with everyone awaiting the outcome of England’s Brexit referendum vote. Will they vote to stay in the European Union (EU) or vote to leave it? Surprisingly, there’s still no clear picture of which way voters will swing on this precarious issue.

With unease and instability, comes renewed interest in safe haven investments such as precious metals. Buckle your seatbelts. This ride could get exciting…

Disclaimer: This editorial has been prepared by the staff 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 and cannot be attributable to Dillon Gage. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, 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 this disclaimer.


Two Headlines Could Impact Gold This Week

The Market Gage - Dillon Gage's Precious Metals Newsletter

Two headline stories on tap for this week that could have an impact on the gold price.

Tuesday and Wednesday, the Fed chairwoman, Janet Yellen testifies before congress to deliver her semi-annual testimony. On Tuesday she will testify before the Senate Banking Committee and on Wednesday she speaks in front of the House Financial Services Committee.

Everyone expects Chairwoman Yellen to repeat her message from last week that the Fed wil take a cautious approach to raising rates, as the U.S. economic data is still reported as “weak”.

Continue reading “Two Headlines Could Impact Gold This Week” »


No Fed Rate Hike As Brexit Looms

The Market Gage - Dillon Gage's Precious Metals Newsletter

As expected, the Fed left interest rates alone during their scheduled meeting this week.

Citing an unexpectedly weak May jobs report and the looming Brexit referendum vote for England, Fed Chair Janet Yellen stated, “It is a decision that could have consequences for economic and financial conditions in global financial markets. If it does so, it could have consequences in turn for the U.S. economic outlook that would be a factor in deciding on the appropriate path of policy.”

Continue reading “No Fed Rate Hike As Brexit Looms” »


American Eagles Sales as of June, 16, 2016

U.S. Mint Year to Date Sales of Silver and Gold American Eagles

The following chart includes the year to date totals from the U.S. Mint as of 5pm on June 16th. Changes below reflect the sales since our last report on June 10th.

Gold
Coin Sales in oz. /#coins + from 6/10/2016
One oz.
378,500
378,500
25,500
25,500
Half oz.
21,500
43,000
000
000
Quarter oz.
20,000
80,000
500
2,000
Tenth oz.
46,500
465,000
1,500
15,000
Total
466,500
966,500
20,000
35,000
Silver
Coin Sales in oz. /#coins + from 6/19/2016
One oz.
24,246,500
24,246,500
311,000
311,000

Precious Metals Modestly Lower This AM

The Market Gage - Dillon Gage's Precious Metals Newsletter

FED Watch.

Precious metal prices are modestly lower this morning as we await the decision from the FOMC meeting today at 2pm Eastern time.

We expect them to provide further guidance on when they expect to raise rates. Still the odds are very low that a rate hike will happen today or in July and a 30 percent chance in September. I expect the odds might change a bit after hearing what they have to say today.

Continue reading “Precious Metals Modestly Lower This AM” »


Minnesota Amends Law Aimed At Coin Dealers

The Minnesota SF 3175: Bullion Product Dealers Regulation Authorization was recently signed by Minnesota Gov. Mark Dayton. This major legislative effort, led by the Industry Council for Tangible Assets (ICTA), reforms the most troublesome law for coin dealers in modern memory.

The state’s “Bullion Coin Dealer Law,” which was passed in 2013, applied to dealers at all levels of the industry and throughout the country, and imposed onerous regulations that were impossible to comply according to ICTA’s Chairman, Harry Miller, “Most coin dealers in the U.S. probably had no idea they were subject to this Minnesota law. But many were affected, even those who thought they had never done business in the state, because of the broad way in which the law was written.”

Continue reading “Minnesota Amends Law Aimed At Coin Dealers” »


England’s Brexit Vote May Cause Gold Rush

Dillon Gage Metals Founder Weighs in on Possible Outcomes

ADDISON, TEXAS (June 14, 2016) – Dillon Gage Metals is investigating what potential effect the upcoming Brexit vote may have on the global precious metals market.

On June 23, British voters will cast ballots to determine whether or not the U.K. will remain in the European Union. According to Dillon Gage Metals Chairman Stephen W. Miller, if the Brexit measure passes, the effects may positively impact long-term value in the precious metals market.

Continue reading “England’s Brexit Vote May Cause Gold Rush” »


Overnight Buying From Japan Boosts Gold

The Market Gage - Dillon Gage's Precious Metals Newsletter

Good morning from the IPMI conference in Phoenix, Arizona, where hundreds of traders and dealers from around the world exchange ideas in the Precious Metals markets. You can see the hotel lobby fill up with it all the traders and dealers every hour on the hour for meetings. Companies are here trying to establish new relationships, rekindle old ones and exchange ideas in technology.

Dillon Gage’s cutting edge technology continues to evolve and stands out as the leader in physical electronic trading platforms. Matter of fact, I didn’t see or hear of any other firm offering a comparable trading platform like “FIZ” trade. For any precious metals business, a precious metals platform is a must in order to compete with the worldwide electronic algorithms that move the price of metals in a heartbeat.

Continue reading “Overnight Buying From Japan Boosts Gold” »