Gold & Silverbeta

December 11, 2012
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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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davefairtex
By davefairtex on Thu, May 5, 2016 - 1:07am

PM Daily Market Commentary - 5/4/2016

Gold fell -6.70 to 1281.50 on heavy volume, while silver dropped just -0.05 to 17.41 on moderate volume.  Gold moved south today mostly because of a dollar rally, but the move was relatively mild, and dip-buyers were evident towards end of day in both gold and silver.

Gold's move today was follow-through from the swing high printed yesterday, but gold is retaining a bid, as are some of the other commodities such as oil and silver.  During today's decline, gold found support at its 9 EMA, and the end of day rebound turned a $16 down day into a $6 drop.

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