The price of Gold taking advantage of a weaker dollar this morning as the dollar index trades at a year over year low by as much as 14 percent. The dollar index traded over night to a low of 91.75 where last year at this time we were trading at the 103 handle.
The question on most traders’ minds is, will the dollar continue to fall?, because the weaker dollar seems to be the only catalyst to higher Gold prices at this time.
And chatter from any Fed member about how many rate hikes are expected in 2018 could put the brakes on this continued Gold rally.
With an abundance of commercial Silver bars available, the price of Silver struggling to reach positive territory today..
Platinum / Palladium ratio continues to widen as concerns of a continuing tight supply of Palladium is on the minds of many car company executives as higher Palladium prices adds to the cost of new vehicles. Case in point, year over year Palladium is up over 59 percent.
March Palladium currently trading at $1,077.30 and as one PGM trader put it, “The Palladium chart is starting to look like a Bitcoin chart for 2017.”
Have a wonderful Tuesday.
Disclaimer: This editorial has been prepared by Walter Pehowich of Dillon Gage Metals for information and thought-provoking purposes only and does not purport to predict or forecast actual results. This editorial opinion is not to be construed as investment advice or as a recommendation regarding any particular security, commodity or course of action. Opinions expressed herein cannot be attributable to Dillon Gage. Reasonable people may disagree about the events discussed or opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, results are likely to vary substantially. It is not a solicitation or advice to make any exchange in commodities, securities or other financial instruments. 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. Dillon Gage Metals shall not have any liability for any damages of any kind whatsoever relating to this editorial. You should consult your advisers with respect to these areas. By posting this editorial, you acknowledge, understand and accept this disclaimer.