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 Tue, Oct 21, 2014 - 12:15am

PM Daily Market Commentary - 10/20/2014

Gold closed up +8.90 to 1247.40 on moderately light volume; silver rose +0.15 to 17.42 on light volume.  Gold spiked modestly higher in Asia and London trading, and held its gains through the close in NY.  Silver rose in a similar pattern, but gave up half its gains by end of day in NY.  Gold's rally today stopped right at its 50 MA.

The dollar slowly sank all day long, closing near its low, off -0.24 to 85.05.  The slow dollar downtrend is definitely helping gold to move higher.

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