The Market Gage – Greece Dominates Headlines

“The Market Gage” features insights into the precious metals market from Roy Friedman. Roy has over 30 years of in-depth experience in all facets of precious metals.

The news of out of Greece was somewhat expected as the Syriza Party won a decisive victory although they fell two seats short of winning a majority. As they look to form alliances within the government to secure a majority block, the likelihood is that confrontations will arise sooner rather than later within the EU as Greece looks to address their debt load and renegotiate their bonds. The success of the Greek leaders to deal with their debt problems will also lay the foundation for other debt ridden EU members and could seriously threaten the Euro currency as we currently know it.
Continue reading

Posted in Uncategorized | Leave a comment

The Market Gage – Friday Volume Unusually Light So Far

“The Market Gage” features insights into the precious metals market from Roy Friedman. Roy has over 30 years of in-depth experience in all facets of precious metals.

The European Central Bank’s announcement yesterday of a bigger than expected QE program was a welcome surprise for equity and bond traders as both saw broad-based buying globally. As would be expected, the USD rallied sharply with the Euro / USD falling over 3 cents as it trades below 1.12. While gold is showing signs of struggling with its continuing pivots around $1,300.00, it has rallied sharply in Euro terms as well as other currencies.
Continue reading

Posted in Uncategorized | Leave a comment

The Market Gage – Gold and Silver Continue to Soar Overnite

“The Market Gage” features insights into the precious metals market from Roy Friedman. Roy has over 30 years of in-depth experience in all facets of precious metals.

Gold and silver continued their impressive run overnight as gold broke above $1,300.00 for the first time since August while silver flirted with $18.50. Silver has really been the star of 2015 for precious metals traders as it has gained almost 20 percent this year and the gold silver ratio has dropped to just above 70 after being above 80 not too long ago. Tomorrow is the E.C.B. policy meeting; the buying we have seen in Europe today is likely on the back of expectations from European investors who feel the Euro currency will continue weakening as a bond buying QE program is expected to be announced tomorrow.

Continue reading

Posted in Uncategorized | Leave a comment

The Market Gage – Precious Metals Experience Active MLK Trading Day

“The Market Gage” features insights into the precious metals market from Roy Friedman. Roy has over 30 years of in-depth experience in all facets of precious metals.

The physical corner of the precious metals world had a very active MLK trading day as investors took the opportunity to buy a slight dip in prices as compared to Friday’s closing levels and an early test higher in Asia when trading resumed on Sunday night. This morning finds our market again probing higher as gold has reached $1,294.50 and silver broke $18.00 for the second time ($18.02 on Sunday night) as it reached $18.045 on the back of an IMF report released in China that forecast a cut in global economic growth for 2015 from 3.80 percent (their forecast in October) down to 3.50 percent.

Continue reading

Posted in Uncategorized | Leave a comment

The Market Gage- New Swiss Bank Policy Drives Gold, Silver, Platinum

“The Market Gage” features insights into the precious metals market from Roy Friedman. Roy has over 30 years of in-depth experience in all facets of precious metals.

Precious metals, with the exception of palladium, are moving higher again this morning following yesterday’s much talked about policy change by the Swiss National Bank. Palladium has fallen to a test of support at $750.00 as weak economic data and forecasts for a contraction in global economic growth weigh on the industrial metal.

Continue reading

Posted in Uncategorized | Leave a comment

The Market Gage – Headlines Impacting Precious Metals

“The Market Gage” features insights into the precious metals market from Roy Friedman. Roy has over 30 years of in-depth experience in all facets of precious metals.

Plenty of headlines today all of which impact precious metals prices and highlight the volatility being seen in all markets. In no particular order here are a few:

1. Copper prices are following crude oil and collapsing on the back of the World Bank cutting its forecast for global growth in 2015 from 3.40 percent down to 3.00 percent. In addition, a tremendous amount of selling has been seen from the Asian market which may be related to the liquidation of long positions that were being financed or purchased on margin. Copper prices are often looked at as an indicator on the health of the economy. In this case it is certainly telling us an economic slowdown is on the horizon.

Continue reading

Posted in Uncategorized | Leave a comment

The Market Gage – Crude Lower This Morning

“The Market Gage” features insights into the precious metals market from Roy Friedman. Roy has over 30 years of in-depth experience in all facets of precious metals.

Following Friday’s strong close, our market resumed trading yesterday with a probe higher, but volume was light with the highs of $1,231.30 gold and $16.69 silver being short lived. In early U.S. trading, all four precious metals are within a spread of where they were trading when electronic trading closed Friday afternoon. This morning finds U.S. equities and crude oil sharply lower and, if the recent pattern continues, this should be a positive for gold and its siblings today.
Continue reading

Posted in Uncategorized | Comments Off

The Market Gage – Precious Metals Look to Hold Most of Week’s Gains

“The Market Gage” features insights into the precious metals market from Roy Friedman. Roy has over 30 years of in-depth experience in all facets of precious metals.

Precious metals head for the finish line this week holding most of the gains from earlier in the week, but so far unable to build on those gains as U.S. equities rallied sharply on Wednesday and Thursday. This morning finds equities giving back some of those gains so, with gold continuing to hold above $1,200.00, we could see our market probe the upside again today. This morning’s Non-Farm Payroll report came in a little better than expected but probably not enough to weigh on precious metals.

Continue reading

Posted in Uncategorized | Comments Off

The Market Gage – Gold’s Safe Haven Label Getting Buzz

“The Market Gage” features insights into the precious metals market from Roy Friedman. Roy has over 30 years of in-depth experience in all facets of precious metals.

Precious metals continued probing higher yesterday, as several factors emerged that support gold and have investors looking for a bit of insurance as gold begins the New Year with the label “safe-haven” once again being applied. In no particular order, here are a few factors that have brought buyers to our market over the past few days and are likely to be supportive going forward:

1. U.S. and global equities are under pressure which may bring “new money” to our market as investors rotate out of equities and look for other investment opportunities.

Continue reading

Posted in Uncategorized | Comments Off

The Market Gage – Precious Metals’ “Unofficial” Positive 2015 Start

“The Market Gage” features insights into the precious metals market from Roy Friedman. Roy has over 30 years of in-depth experience in all facets of precious metals.

Precious metals begin the “unofficial” start to 2015 on a positive note as the recent trend of buying in Asia was seen again yesterday and so far the Asian rally has not been sold which is a bit of a change. Despite a sharp move up in the USD and another big drop in crude oil, precious metals are holding up as physical demand and a bit of “safe haven” buying fuels today’s rally.

On the positive side we have falling interest rates but most importantly at least for now is a continuation of the unraveling of Greece’s political infrastructure which several commentators are suggesting could end with Greece leaving the EU.

Continue reading

Posted in Uncategorized | Comments Off