Gold and Silver Drifted Lower This Week

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Monday through Thursday saw gold and silver mostly drift lower despite the occasional bounce. Daily trading ranges and overall volume have been below average as many market participants looked elsewhere for a market that had greater intra-day and short term volatility like the FX market. This morning’s release of the February Non-Farm Payroll report is a game changer and has broken precious metals out of the recent range to lower levels as gold and silver have already tested $1,175.00 and $15.75. Employers added 295,000 new jobs in February which far exceeded the estimate of 240,000 new jobs and the unemployment rate fell to 5.50 percent, which is the lowest it has been since May of 2008.

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Technical Levels Dominate Precious Metals

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Precious metals continue to be dominated by technical levels as discussed on Monday. Without any new geopolitical news, gold and silver have: probed lower, held, bounced and, as witnessed by this morning‘s early levels, are beginning to probe lower again. Continue reading →

Market Insights – Precious Metals Closed Week Steady

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Despite the USD continuing to rally throughout much of last week, precious metals had a steady close to the week as physical demand offset speculative short selling. The pattern of intra-day highs being made in Asia or Europe and then drifting lower in the U.S. for most of the week continues this morning as gold is now $10.00 off the high of $1,230.00 and silver is 25 cents off the high of $16.79.

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Market Insights – Platinum Remains The Strongest

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Sitting in while Roy Friedman is out, is Peter Aan, a Dillon Gage Metals Trader. Roy will return on Monday. Here are Peter’s Market insights:

Gold worked higher Thursday, giving a respectable test of the 1222.9 level I mentioned, but ended with an unconvincing mid-range close, and is little changed in early morning trading today. If we have a successful penetration of 1222.9, look for further movement to test the February 17th high of 1236.7. The overall trend is still down, however, and if this short-term rally fizzles, fresh lows should turn our attention once again to the January low of 1168.3.

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Market Insights – Gold Trending Higher This Morning

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Sitting in while Roy Friedman is out, is Peter Aan, a Dillon Gage Metals Trader. Here are his Market insights:

Gold is higher this morning after making new lows for this move on Monday and Tuesday. If the buying pressure persists, look for a test of the 1222.9 high (basis the April contract) from last week as our first resistance. If we penetrate that, look for further movement to test the February 17th high of 1236.7. The overall trend is still down, however, and if this short-term rally fizzles, fresh lows should turn our attention once again to the January low of 1168.3.

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Market Insights – Silver Could Test Friday’s High

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Sitting in while Roy Friedman is out, is Peter Aan, a Dillon Gage Metals Trader. Here are his Market insights:

Gold continues its downtrend, working into new lows for this move overnight, but some buying came into the market this morning. Support continues to be at the January low of 1168.3 (basis the April contract). Continue reading →

Market Insights for February 20

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Sitting in while Roy Friedman is out for two weeks, is Peter Aan, a Dillon Gage Metals Trader. Here are his Market insights:

Gold and the other metals got a shot in the arm from the release of the Fed meeting notes on Wednesday afternoon, but began to fall back early Thursday morning. Early action today shows some buying coming back into the market. Support continues to be at the January low of 1168.3 (basis the April contract).

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The Art Of Choosing A Refinery

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Refining precious metals safely and accurately is not for the novice. Refining is a multi-step process that begins with the use of heat around 1,948 degrees Fahrenheit for gold and even higher for metals such as platinum. Continue reading →

Market Insights – February 18, 2015

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Sitting in while Roy Friedman is out for two weeks, is Peter Aan, a Dillon Gage Metals Trader. Here are his Market insights:

Gold tumbled Tuesday as fears over the situation in Greece eased, negating the attempted rally from last week. Continue reading →

Market Insights – Monday, Feb 16, 2015

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Sitting in while Roy Friedman is out for two weeks, is Peter Aan, a Dillon Gage Metals Trader. Here are his Market insights:

Gold closed higher on Friday, but well off its daily high. Buying pressure was renewed in the overnight session and early trading today, but we remain within last Wednesday’s range. The market is still oversold, and the short-term trend remains down. A close above Wednesday’s high of 1238.7 (basis the April contract) would be the first sign that the trend may change. If prices falter and recent lows are taken out, we should continue to keep the Jan 2 low of 1168.3 in our sights.

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Market Insights for Friday, February 13, 2015

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Sitting in while Roy Friedman is out for two weeks, is Peter Aan, a Dillon Gage Metals Trader. Here are his Market insights:

Gold traded without much sense of direction on Thursday, with the entire range within Wednesday’s range. The fall from January’s high has brought the market to an oversold condition on the Bollinger Bands, and Thursday’s reluctance to work lower may reflect that oversold condition. Also, the fall of recent weeks is an approximate 50% correction of the uptrend from the November low. If the market wants to trend lower, the first notable support area is the Jan 2 low of 1168.30 (basis the April contract). On the bullish side, a penetration, especially on a closing basis, of this week’s high of 1245.90 would be the first solid indication that a new leg to the upside might be underway.

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The Market Gage – Greek & Ukrainian Headlines Sustain Gold

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Precious metal prices have tried higher since trading resumed yesterday as escalating tension in the Ukraine and speed bumps being hit over Greece’s debt negotiations with the ECB and IMF have brought buyers to the gold and silver market. China released terrible economic data yesterday as their exports fell by 3.30 percent while imports plummeted by 19.90 percent as the economic health of the world’s second largest economy continues to show weakness and will weigh on the global economy. Gold and silver, while off the overnight highs, continue to trade in positive territory this morning and silver is above $17.00 which is a welcome sign while platinum and palladium were not able to hold the rally and are trading below Friday’s settlement levels

The unrest mentioned above has U.S. equities trading lower this morning, while bonds continue to sell-off as the yield on the 10 year bond has risen 25 basis points and is back over 1.90 percent. Crude oil continues its recent recovery on a bullish report from OPEC as it has broken above $52.00. All things considered it is a bit unsettling that gold is only up $4.00 this morning. Silver is likely to be the leader this week from a technical perspective. The 50 and 100 day moving averages come in on either side of $16.75 where support should be strong while a break above the 10 day average at $17.30 could bring another test of $17.75.

Dillon Gage Metals’ 2015 Precious Metals Predictions

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From Coins to Conflict, International Wholesaler Offers Their Take on Several Key Issues Affecting the Precious Metals Marketplace in 2015

ADDISON, TEXAS (Jan. 13, 2015)—With the new year upon us, many investors and industry experts are offering their predictions for the 2015 precious metals forecast. Dillon Gage Metals, a leading international precious metals wholesaler, offers their take on several key issues ranging from general economic overviews and pricing to interest rates and geopolitical events.
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Digital Metals Launches Spots In A Box

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Simple Converter Box Delivers Real-Time Precious Metals Spot Pricing Directly to Businesses and Customers

Addison, TEXAS (Jan. 29, 2015)Spots in a Box can be used in a variety of business settings and customized for particular audiences. Continue reading →

Offered a Metric Ton “Deal”?

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Have you recently been offered or heard about special deals in gold dust or African, Hong Kong, Singapore gold?

You should know that these “deal opportunities” — measured in metric tons and coming from unknown circles — are commonplace in active markets like the one we are now experiencing. Continue reading →

Dillon Gage Names Exec. VP-Business Development

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Roy Friedman is an Authority in Precious Metals, Financial Markets

DALLAS, Jan. 12, 2012—Dillon Gage Metals, a division of Dillon Gage Incorporated of Dallas, has named Roy Friedman, a well-respected trader and commentator in the field of precious metals and global financial markets, as Executive Vice President of Business Development for the firm. Continue reading →