gold

discussion
davefairtex
By davefairtex on Fri, Jul 22, 2016 - 4:18am

PM Daily Market Commentary - 7/21/2016

Gold rose +11.70 to 1331.00 on moderately heavy volume, while silver climbed +0.20 to 19.82 on moderate volume.  Both gold and silver made new lows in Asia trading, but buyers showed up in force, wiping out much of the losses from yesterday's fairly large move down.

discussion
davefairtex
By davefairtex on Thu, Jul 21, 2016 - 3:23am

PM Daily Market Commentary - 7/20/2016

Gold fell -16.40 to 1315.80 on moderate volume, while silver dropped -0.50 to 19.47 on moderate volume.  PM finally started sinking in earnest today; after months of trying, the commercials are finally having things their way.

discussion
davefairtex
By davefairtex on Wed, Jul 20, 2016 - 5:14am

PM Daily Market Commentary - 7/19/2016

Gold rose +3.00 to 1332.30 on heavy volume, while silver dropped -0.07 to 20.01 on light volume.  The buck staged a strong rally today providing headwinds for commodities and PM.

Gold traded in a narrow range, printing a relatively innocuous spinning top candle. That's a decent performance given the dollar rally.  Current trend remains down.  Gold remains below its 9 EMA, and above the 1320 support level.  Gold needs a close over that EMA 9 (1337.43) to get the ball rolling to the upside again.

discussion
davefairtex
By davefairtex on Tue, Jul 19, 2016 - 3:30am

PM Daily Market Commentary - 7/18/2016

Gold fell -8.40 to 1329.30 on moderately light volume, while silver dropped -0.22 to 20.08 on moderate volume.  Silver was hit about five minutes after the open in Shanghai; price headed lower until mid-day in London, when buyers appeared driving price back up.

discussion
davefairtex
By davefairtex on Sun, Jul 17, 2016 - 1:30am

PM End of Week Commentary - 7/15/2016

On Friday, gold rose +2.10 to 1337.70 on moderate volume, while silver fell -0.07 to 20.30 moderate volume also.  A strong Retail Sales report on Friday caused the buck to jump and gold to drop before the US market open - but both gold and silver's losses vanished right before market close as buyers showed up in force.  Perhaps traders didn't want to be short going into the weekend.

discussion
davefairtex
By davefairtex on Fri, Jul 15, 2016 - 5:22am

PM Daily Market Commentary - 7/14/2016

Gold fell -7.70 to 1335.60 on moderately heavy volume, while silver dropped -0.05 to 20.36 on moderate volume.

Gold was driven lower during the Asia trading session, but managed to find support at 1320, when the buyers appeared and pushed prices back up.  The candle print today was a spinning top, which in this situation is about evenly split between bullish and bearish.  That suggests to me that the current downtrend likely continues, although gold does not look to be in any hurry about moving lower.

discussion
davefairtex
By davefairtex on Thu, Jul 14, 2016 - 6:24am

PM Daily Market Commentary - 7/13/2016

Gold rose +9.60 to 1343.30 on moderate volume, and silver climbed +0.19 to 20.41 on moderate volume also.

After two days of correction, gold managed to regain a small portion of its losses; on the chart we see the rally was stopped at the 9 EMA.  Formerly, 9 EMA acted as support, but on the way down it is acting as resistance.  Today's rally does nothing to change the new trend, which is down.

discussion
davefairtex
By davefairtex on Wed, Jul 13, 2016 - 4:13am

PM Daily Market Commentary - 7/12/2016

Gold fell -22.40 to 1333.70 on moderate volume, and silver dropped -0.14 to 20.22.  A rebound in the pound, and a drop in TLT both indicate reduced uncertainty; save haven trades are being unwound, and gold is suffering as a result.

discussion
davefairtex
By davefairtex on Tue, Jul 12, 2016 - 5:27am

PM Daily Market Commentary - 7/11/2016

Gold fell -11.30 to 1356.10 on moderate volume, while silver closed up just +0.01 to 20.36.  Gold popped briefly higher at the open in Asia, and then sold off for the rest of the trading day.  Silver tried rallying too but largely failed.

discussion
utahbengoshi
By utahbengoshi on Sat, Jul 9, 2016 - 3:49pm

Nice to meet you!

My wife, Becky, and I are happy to join this group! Looking forward to getting to know you all point do you live in the West Jordan area to build a place of greater self-resilience. Have done some but want to take it to a whole new level. We look forward to helping each other through the learning curves.