Uncle Sam silver rouind

Dillon Gage Metals Offers Exclusive One-Ounce Silver Round

Celebrates 100th Anniversary of Famous “I Want YOU” Poster

ADDISON, Texas (May 17, 2017) – Dillon Gage Metals, an international precious metals wholesaler, is set to release an exclusive and original one-ounce silver bullion medallion celebrating the 100th anniversary of Uncle Sam’s famous recruitment poster heralding, “I Want You for U.S. Army.” This iconic image is being portrayed for the first time in .999 fine silver and is being produced in the United States. Shipping of the rounds will be on a first come, first serve basis, expected to begin the week of May 22.

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The Market Gage - Dillon Gage's Precious Metals Newsletter

Geopolitical Risks And How They Impact Gold

Can Geopolitical risks accelerate a rally in precious metals? We’ll explore that topic today, but first let’s look at this morning’s market news:

Precious metal prices are in recovery mode after testing and trading thru the 100-day moving average.

Helping the price of gold this morning is a weaker dollar and Ten-Year Treasury yields.
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The Market Gage - Dillon Gage's Precious Metals Newsletter

Gold in Recovery Mode This Morning

The price of Gold in recovery mode this morning despite a stronger dollar and higher treasury yields.

Some Wall Street Gold traders on Wednesday put on short positions as the price of gold broke thru the 200 day moving average at $1,250.80. As I indicated in the past, their strategy is to make a profit of fifteen to twenty dollars and get out. And that’s exactly what they did as soon as we broke thru the strong support level of at $1,232.00.

Now onto economic and political headlines from Europe.

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The Market Gage - Dillon Gage's Precious Metals Newsletter

Gold Fails To React To 1st Quarter GDP

The price of Gold shows no reaction to the 1st quarter GDP number released this morning. Real gross domestic product only increased at an annual rate of 0.7 percent, compared to the fourth quarter 2016 which showed an increase of 2.1 percent.
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The Market Gage - Dillon Gage's Precious Metals Newsletter

Fed Comments Suppress Gold

Fed comments continue to suppress the price of gold.

We end the week with dollar index and Ten-Year Treasuries virtually unchanged. Wall Street gold traders continue to be absent from trading as the market seems to have no definitive direction. One gold trader I spoke with this morning said, “For the time being, I’m having better results trading in the oil market.”

Small outflows overnight reported in all four metals in the ETF arena.

Now to the news across the pond.
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The Market Gage - Dillon Gage's Precious Metals Newsletter

Gold Taps The Brakes As Wall Street Breathes Easier

Walter Pehowich is off today. A senior DG Staffer provided today’s commentary.

Wall Street is breathing just a tad easier with the market jumping 151 points on Tuesday, ending nine consecutive days of losses, the worst streak since 2011. It appears investors may have been spooked by the stunning rejection of health care reform last week, with thoughts now turning to President Trump’s tax reform plans. Will this initiative meet the same fate? Only time will tell.
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The Market Gage - Dillon Gage's Precious Metals Newsletter

Gold Hits Four Month High And Equities Open Much Lower

Wall Street’s frustration with Washington’s gridlock gives gold a boost this morning. Equities to open much lower as retail investors scramble to put their stop loss orders in on the Dow Industrial’s open. Taking some profits off the table could be a wise move right now.

Last night when I was watching the action in the Far East, it was apparent that gold and silver would be opening stronger here in the States. The activity in the dollar was brisk, trading lower versus other world currencies. Currently the dollar index is trading at 98.89, down 88 basis points which helps the rally in gold.

Also giving gold a boost are the World’s Ten-Year Bond yields which are all lower on the day.
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The Market Gage - Dillon Gage's Precious Metals Newsletter

Lots of Gold-Impacting News to Share

A lot of news to share with you this morning.

All eyes on the Fed today with the results on interest rates to be revealed at 2pm ET. The street expecting a .25 basis rate hike. The CME Watch tool has the odds of a rate hike at 90.8 percent this morning. All will be listening to the Chairwoman’s comments at the press conference after the announcement. Her view on the economy and how many more rate hikes she expects this year are on the minds of all traders and investors.

It would be interesting to hear if there were any voting Fed members who wanted to raise rates 50 basis points at this meeting to show the world they are ahead of the curve. Any surprises will have a profound effect on all the global markets.

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