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Home / Futures Blog / Gold futures rise while other precious metal futures slip

Gold futures rise while other precious metal futures slip

January 24, 2011 by Daniels Trading

Precious metals fluctuated in value Monday as gold ended three straight sessions of losses, Bloomberg reports.

Just before 12:30 p.m., gold futures increased 0.28 percent, a $3.70 increase to $1,344.70 per troy ounce. By contrast, silver futures dipped 0.66 percent, a 0.182 decrease to $27.245 per troy ounce. January-delivery platinum futures also slipped $1.80 to $1,817 per troy ounce while March-delivery palladium futures dropped 0.55 cents to $816.20 per troy ounce.

"Serious thought is being given to whether the gold market has peaked or if it is simply making a short-term correction," investor Tom Pawlicki of MF Global Holdings in Chicago, Illinois told the news service.

Prior to Monday, the value of gold slipped 5.7 percent in January, notching its lowest value since mid-November on January 21 when striking $1,337 per troy ounce.

On Monday, investors acted quickly to purchase gold at its lowest price in two months.

"We're seeing very strong physical demand all over the world," Bernard Sin, the head of currency and metal trading at bullion refiner MKS Finance SAS in Geneva, told Bloomberg. "On any dips from here, a lot of people will be happy to go long. There’s still a lot of uncertainty in the euro zone."

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This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

Filed Under: Archived News

About Daniels Trading

Daniels Trading is an independent futures brokerage firm located in the heart of Chicago’s financial district. Established by renowned commodity trader Andy Daniels in 1995, Daniels Trading is built on a culture of trust committed to the firm’s mission of Independence, Objectivity and Reliability.

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Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

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