Gold & Silverbeta

December 11, 2012

The definitive group for discussing all things related to the precious metals

A resourceful community for those who hold, plan to purchase, or are helplessly infatuated with gold & silver

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By davefairtex on Thu, Apr 24, 2014 - 10:26pm

PM Daily Market Commentary - 4/24/2014

Gold closed up +9.80 to 1293.70 on very heavy volume, silver was up +0.31 to 19.64 on extremely heavy volume.  Gold and silver were pounded steadily down in London around the time of the AM fix, both making new cycle lows (gold: 1268, silver 18.93) and tripping some long stops, however buyers quickly appeared and the metals rallied steadily into the NY open.  Right after the NY open, some really massive upside spikes occurred, and large numbers of shorts were stopped out as both gold and silver ripped far higher than it had previously dropped.

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