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 Sat, Aug 1, 2015 - 1:06pm

PM End of Week Market Commentary - 7/31/2015

On Friday, gold rose +7.10 to 1095.00 on heavy volume, while silver climbed +0.06 to 14.76 on moderately heavy volume.  Both metals sold off steadily during the Asia and London sessions, but rose abruptly once the ECI (Employment Cost Index) report was released at 08:30 EDT - the dollar tanked hard, and that drove both gold and silver higher.

Unfortunately, the dollar drop was short-lived; by end of day, most of the buck's losses were erased, and as a result both gold and silver lost about half of their gains on the day.

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