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 Wed, May 27, 2015 - 12:45am

PM Daily Market Commentary - 5/26/2015

Gold fell -18.20 to 1187.20 on very heavy volume, while silver dropped -0.35 to 16.75 on heavy volume.  Gold, silver, copper, and oil started dropping at around 02:00 EDT and didn't really stop until market close in NY.  While the intraday sell-offs in gold were more abrupt, the overall pattern matched that of the other commodities, and was generally inverse to the rise in the dollar.

Gold is approaching its previous low of 1168.  A break below 1168 will bring this uptrend to a close, and I  expect that would lead to a re-test of the 1140 lows.

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