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, Apr 19, 2014 - 11:35pm

PM End of Week Market Commentary - 4/18/2014

This week gold was off -23.80 [-1.81%] silver down -0.31 [-1.51%] GDX -2.68% and GDXJ -5.15%.  On Tuesday gold sold off quite hard.  To me this was not entirely unexpected, since gold had been rallying on declining volume, which is generally not a bullish sign - this sort of "rising on low volume" (i.e. tepid buying interest) just encourages the shorts to eventually jump in, just like they did.  Now gold is below all 3 of its moving averages, and seems to be on the path of re-testing 1280 support.

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