Ready for Signals….
With President’s Day upon us, our markets are a little quieter than usual. But as this Monday dawns, all eyes appear to be on several members of the Federal Reserve, of which the heads of five regional Fed banks are slated to give speeches before Friday. As we well know, a few comments here or there regarding the rise or hold of interest rates seem to trigger quick activity in the precious metals market. The next scheduled full meeting of the FOMC is slated for mid-March. The FedWatch Tool from CME Group is indicating an 82 percent chance of no change in interest rates.
Inflow into Gold ETFs actually reversed course on Friday, with an outflow of 2.4 tons—the first such occasion in the last month.
We continue to look overseas to the European market for other indicators. Sovereign debt is as big a problem abroad as it is at home. Any changes in the Euro-Zone will have to be monitored this week.
At the time of this writing, spot prices for gold are currently holding steady at $1,238.60. Silver checks in at $18.04.
Have a wonderful week and stay tuned…
Disclaimer: This editorial has been prepared by a senior precious metals expert 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.
o