medication without prescription online

December 30th Early Week Silver Market Update

As of the writing of this post early Tuesday morning, both gold and silver were recording marginal gains thanks to anxiety that is spreading across Europe. With the New Years holiday only a few days away, traders are once again preoccupied with spending time with family and other holiday festivities. As such, this week is shaping up to be considerably slower than normal. Making matters even slower is the fact that most investors are content to hold their positions until they receive and have a chance to mull over all the year-end data that is going to be made public in the coming weeks.

Unfortunately for precious metals, the current market atmosphere is one that is quite bearish, meaning that any gains that are realized will likely be wiped away quickly. As we head into the new year, it is likely that bearish conditions will continue as US equity markets as well as the US Dollar are trending on the up and up.

Anxiety Over Greek Election Comes to Metals’ Aid

Despite this week being slower than usual, the market’s attention perked up on Monday when it was announced that Greece’s parliament rejected the prime minister’s latest nominee for the presidency. In addition to the flat-out rejection of the candidate, parliament called for a general election to be held sometime in early 2015.

Because it is now widely believed that a candidate who opposes Greece’s ongoing financial bailout initiative will ascend to the presidency, investors across Europe and the world are becoming a bit apprehensive. This anxiety is what has helped gold and silver make marginal gains through the first few hours of the day on Tuesday. While Greek worries are keeping metals afloat today, there is not many people who believe gold and silver can mount any sort of sustained run as a result of these worries. Instead, I imagine that today’s gains are more isolated in nature than anything else. This is especially true considering that this week is supposed to be inordinately slow from an economic and geopolitical standpoint.

As we look ahead to next year, it is highly likely that many of the same talking points will remain in the headlines. Of course, the price action of crude oil, which has stabilized a bit in recent days, will be a top concern for a plethora of reasons. In addition to this, investors in 2015 will also have their eyes on periphery economies across Europe and Asia as it is really up to them to start performing better in order to pick up the aggregate global economic system.

All in all, there will be plenty to focus on going forward, but at present none of those factors are helping precious metals much at all. If anything, things like the declining value of crude oil and surging stocks in the US are hurting gold and silver considerably.

Posted in Market Updates

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>