FLASH – Equities Decline December 6, 2018 The whole world seems to heading to the Bond Market. As the Equity Markets across the Globe decline today almost every country’s Bond market is seeing yields drop and Bond prices rise. The only country across the globe with a positive Ten-Year Yield is Italy. European Equity Markets just closing with the FTSE 100 down 3.58 percent, the German Dax down 3.90 percent and the French CAC down 3.71 percent. At the time of this report at 11:30 am the Dow is down over 700 points. The U.S. Ten-Year Treasury Yield now at 2.82 percent, a three month low. It seems the flight to safety is all Bond driven. There seems to be two headwinds to the increase in the price of Gold at this time. Extraordinary margin calls in equities causing gold investors to cash in some chips and lack of significant movement in the dollar index. I find it interesting the other three metals (Silver, Platinum and Palladium) are reacting as industrial metals as investors turn their back on those products. Fund selling is coming in to the Palladium market at this time. One must remember this is a very small market and it doesn’t take a lot of volume to cause the price to move a big way in any direction. Headwinds for Equities continues to be the trade war with China higher interest rates and declining oil prices. Crude prices down over 4 percent today. Have a wonderful Thursday. 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.