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, May 28, 2016 - 6:12am

PM End of Week Market Commentary - 5/27/2016

On Friday gold fell -4.50 to 1215.30 on moderately heavy volume, while silver dropped -0.09 to 16.25 on light volume.  Gold hit a new low to 1209.00 near end of day, but managed to rebound by the close, narrowly avoiding the 1206 support level/line-of-death.

This week, gold fell -37.60 [-3.00%], silver dropped -0.30 [-1.81%], GDX lost -7.36%, and GDXJ was down -10.77%.   Platinum fell -4.43%, palladium dropped -3.88%, and copper rallied +2.65.  Aside from copper, the metals had a fourth bad week in a row, and the pace of the decline is starting to accelerate.

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