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 Fri, Jul 29, 2016 - 4:10am

PM Daily Market Commentary - 7/28/2016

Gold fell -5.50 to 1337.30 on moderate volume, while silver fell -0.21 to 20.21 on moderately heavy volume.  Gold and silver both made new highs just before the US market opened, but but then sold off for the remainder of the day.

After making a new high, gold retraced a small fraction of yesterday's gain, finding support at the 9 EMA.  To me it appears that gold more or less just took a rest.  The candle print for gold was a relatively innocuous long black candle, which does not appear to be any sort of reversal bar. 

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