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Follow on Google News | Dillon Gage Executive VP Offers Insights into the Precious Metals MarketDillon Gage Metals is proud to offer the following insights into the precious metals market from Roy Friedman who has over 30 years of in depth experience in all facets of precious metals.
By: Dillon Gage Metals 
dgm logo Mr. Friedman says, Precious metals have had another volatile week, with the news out of Greece and U.S. economic figures being the key drivers. As the situation in Greece continues to evolve, debt concerns and civil unrest along with a stronger USD drove prices to their lows of the week very early Thursday morning, before the markets opened in the U.S. With the market appearing vulnerable to further losses and a dip below $1,700.00 in gold appearing imminent, additional pressure was also coming from European and U.S. equities which were down over one percent in electronic trading. The release of U.S. economic data on weekly jobless claims, housing starts and the Philly Fed Manufacturing Index, all came in better than expected and supported both commodity and equity markets. As gold held support at $1,705.00, it spent the rest of the day in rally mode as the day ended in the low $1,730.00′s. Silver followed suit and rallied almost $1.00 from the intraday lows, to trade back up to $33.60. As we approach the end of the trading week, prices are basically unchanged from Monday’s start. Gold is likely to continue in its role as the leader of the pack with support now standing at $1,720.00 and $1,705.00, while resistance will be found at $1,740.00 and $1,755.00. Look for the gold / silver ratio to continue trading between 51 and 52 as silver follows gold’s path. Having seen the dip in prices, albeit not the dip I was looking for in Tuesday’s commentary, the picture for precious metals is cloudy and difficult to forecast in the short term. I continue to advocate buying the dips as downside risk looks limited to me while gains on the upside could be significant both in the short and long term. Monday is a Federal Holiday, so the U.S. Banking system will be closed. However, the electronic trading platform will be open for a shortened day, so there will be precious metals trading in the U.S. and Dillon Gage will be open. Mr. Friedman's commentaries can be found on the Dillon Gage Metals blog, http://dillongageblog.com twice a week with additional commentaries written as market events dictate. Mr. Friedman has a degree in economics and political science from the State University of New York at Binghamton. For more than 30 years, he has worked at all levels of the industry including as a trader for major Metals firms and international banks. For more information on Mr. Friedman, please click here. Dillon Gage Metals offers bullion trading, online trading of physical metal and futures, jewelry trading and liquidation, refining services, and rare coins and estate liquidations. Dillon Gage Incorporated of Dallas (dillongage.com) • Dillon Gage Securities, Inc. – A full-service FINRA and SIPC member firm that specializes in financial planning. • Dillon Gage Inc. – A company dealing in the futures markets. • Diamond State Depository, LLC - A wholly-owned, independently- For more information on Dillon Gage Metals, please visit www.dillongage.com/ # # # About Dillon Gage Metals Dillon Gage Inc. (DillonGage.com) • Dillon Gage Metals, one of the largest precious metals dealers in the U.S. (DillonGage.com/ • Dillon Gage Refinery, state of the art refinery located in Dallas, Texas. (dillongage.com/ • FizTrade Online Trading offers real-time trading for bid and ask markets for gold, silver platinum and palladium. (FizTrade.com) • Diamond State Depository, a wholly owned, independently operated precious metals storage facility located in New Castle, Delaware. (DiamondStateDepository.com) • International Depository Services of Canada, a wholly owned, independently operated precious metals storage facility located in Toronto, Canada. (www.IDSofCanada.com) Contact Jo Trizila TrizCom Inc. jo@TrizCom.com Office: 972-247-1369 Cell: 214-232-0078 End
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