Dollar rises, precious metals fall at news of Bin Laden’s death

With lower precious metals prices, Lloyds Commodities recommends buying now .
By: Robert Sharp & Associates
 
May 13, 2011 - PRLog -- PALM BEACH GARDENS, Fla. – On May 2, the world celebrated as the news of terrorist Osama bin Laden’s death surfaced. Boosted U.S. morale caused stock markets around the world to rally and the dollar to rise.

In the week following Bin Laden’s death, the dollar has – for the most part – maintained its upward trend. On May 12, it reached its highest level in weeks. Euro sovereign debt concerns have also contributed to the dollar’s current strengthened state.

While the dollar has enjoyed an upswing, precious metals prices have dipped. Gold hit a recent all-time high in April after rising above $1,500 an ounce – but as of May 12, gold is down to $1,488 an ounce.

Silver has hit a 10-week low, with silver for July delivery sliding by $2.02 to $33.49 an ounce on the COMEX, after a series of margin requirement hikes by the exchange.

“Precious metals may be down, but the dollar is still not stable enough. Demand for precious metals will rise again in no time. With the small speculators being 'chased' out of the silver futures market, the bigger and more stable players remain,” said Frank Gaudino, managing partner at Lloyds Commodities precious metals wholesale dealer.

While the demand may have temporarily lessened, Gaudino said lowered prices make an ideal time for purchasing precious metals.

“We may see a lot of first-time precious metals buyers, with the prices of gold and silver lower than they’ve been in months. If the demand picks up, we could see a bigger move then we have ever seen, given the fact that the smaller speculator has been virtually eliminated,” Gaudino said. “We recommend capitalizing on this trend by becoming an independent precious metal dealer with the help of Lloyds Commodities.”

As a physical commodity wholesale dealer, Lloyds maintains a two-way market for gold, silver, platinum, palladium and copper to its retail dealers while providing training, mentoring and software support to help maximize profits.

For more information about capitalizing on the precious metals market by becoming a retail dealer with Lloyds, visit http://www.lloydscommodities.com/.

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About Lloyds Commodities

Lloyds Commodities is a wholesale dealer specializing in the purchase and sale of precious metals such as gold, silver, platinum, palladium and copper. Lloyds maintains relationships with worldwide suppliers, financing institutions, and investment bankers to maintain client equity. Lloyds has extensive back-office support for day-to-day operations -- including trade confirmations and statements -- allowing its retail clients to focus on expanding and marketing their businesses. For more information about Lloyds Commodities, visit http://www.lloydscommodities.com/.
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Source:Robert Sharp & Associates
Email:***@thesharpagency.com Email Verified
Tags:Lloyds Commodities, Silver, Gold, Precious Metals Wholesale Dealer, Physical Commodity Investing, Osama Bin Laden
Industry:Financial, Precious metals, Investing
Location:RAPID CITY - South Dakota - United States
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