By Chris Blasi – Neptune Global Holdings LLC
For gold and silver investors, Halloween 2014 has been a harrowing experience. Following the hawkish tone within the FOMC’s earlier press release, the expected impact on the precious metals was played out in the bullion paper markets. The irony within the precious metals investment world continues, as the wholesale dumping of derivative contracts for the metals was meet by robust buying of the physical across the globe.
As a further testament the merits of diversification, even within the precious metals segment of a portfolio, the PMC Ounce withstood today’s barrage better then gold and silver alone. Specifically, as gold and silver backed down 2.3% and 2.2% respectively, the PMC Ounce surrendered a bit less painful 1.5%. This was achieved by the platinum component of the PMC Ounce giving up just above 1% and palladium tacking on a gain of 1.5%. So while the combined gold and silver portion of each PMC Ounce represents the majority position, a respectable allocation to the non-monetary precious metals did their duty.