Gold & Silver - Discussions

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  • davefairtex's picture
    Oct 18 2014 - 1:10pm by davefairtex

    On Friday gold dropped -0.60 to 1238.50 on moderate volume, while silver was down -0.08 to 17.27 on light volume.  Gold traded sideways for most of the trading day, except for a three-hour visit to the 1231 level starting around 10:00 EDT with a rebound at around 13:00.  Silver just slowly sold off all day long.

  • davefairtex's picture
    Oct 16 2014 - 7:23pm by davefairtex

    Gold closed down -2.20 to 1239.10 on heavy volume; silver was off -0.09 to 17.35 on moderate volume.  Gold tracked mostly sideways today as did silver, with silver looking weaker than gold overall.  I'm not sure where gold's heavy volume came from - the trading day looked pretty uneventful.

  • davefairtex's picture
    Oct 15 2014 - 11:46pm by davefairtex

    Gold closed up +8.90 to 1241.30 on extremely heavy volume; silver was up +0.06 to 17.44 on heavy volume.  PM sold off for the first half of the trading day, with gold hitting 1221 and silver 17.02, but PM started to recover at around 0700 EDT.  Then at 0830, a collection of negative economic reports came out that caused the dollar to sell off really hard, which drove gold up to 1250 and silver to 17.82 - new highs for this cycle in both gold and silver, which of course stopped out a whole bunch of shorts.  Gold held on to about half its gains, but silver was not so fortunate,

  • davefairtex's picture
    Oct 14 2014 - 7:26pm by davefairtex

    Gold closed down -4.50 to 1232.40 on moderate volume, while silver was off -0.11 to 17.38 on light volume.  From the perspective of the gold priced in USD, gold took a rest today, selling off modestly on relatively light volume.  The dollar's move higher probably didn't help, but trading wasn't particularly eventful today.

  • davefairtex's picture
    Oct 13 2014 - 10:05pm by davefairtex

    Gold closed up +13.60 to 1236.90 on moderate volume, while silver was up +0.10 to 17.49 on light volume.  Gold outperformed silver, moving the gold/silver ratio up +0.36 to 70.72.  A weaker dollar helped the metals move higher today.  Gold looked especially strong, hitting a new cycle high and closing near the highs of the day.  The only fly in the ointment - the volume was somewhat light.

  • davefairtex's picture
    Oct 11 2014 - 5:07am by davefairtex

    On Friday gold dropped -0.60 to 1223.30 on moderate volume, while silver was up +0.05 to 17.39 on light volume.  PM traded in a relatively narrow range, dropping modestly in the middle of the trading day but then recovering its losses by end of day in spite of a decent-sized dollar rally.

    Mining shares were not nearly as happy, with GDX off -2.12% on moderately heavy volume, and GDXJ down -1.22% on moderate volume.  Miners did not like the rising dollar one bit.

  • davefairtex's picture
    Oct 10 2014 - 8:04am by davefairtex

    Gold closed up +2.00 to 1223.90 on very heavy volume, while silver was down -0.03 to 17.34 on heavy volume.  Both gold and silver rallied strongly during London trading hours, with gold reaching 1234 and silver rising to 17.72, but a brisk dollar rebound put an end to the hopes of higher PM prices for the day, and by end of US trading both gold and silver were back to their starting points.

  • davefairtex's picture
    Oct 8 2014 - 10:37pm by davefairtex

    Gold closed up +13.20 to 1221.90 on very heavy volume, while silver was up +0.20 to 17.37 on moderately heavy volume.  PM was generally positive in London, but sold off unpleasantly after the NY open, and things looked a bit grim up until the FOMC minutes release at 1400 EDT.  Right at that moment, both gold and silver took off, stopping out a bunch of shorts and rallying into the close.

  • davefairtex's picture
    Oct 8 2014 - 1:18am by davefairtex

    Gold closed up +1.40 to 1208.70 on heavy volume, while silver dropped -0.16 to 17.17 on moderately heavy volume.  PM spiked higher several times during the day but neither silver nor gold could hang onto gains made, selling off into the close.  At one point silver was up 30 cents, but it ended up as yet another failed rally in PM.

  • davefairtex's picture
    Oct 7 2014 - 4:43am by davefairtex

    Gold closed up +16.20 to 1207.30 on heavy volume, while silver was up +0.49 to 17.33 on moderate volume. Right at the open in Asia, shorts tried to hammer gold through its 1179 low; the attempt failed, with gold finding support at 1183.30.  Soon after that, the dollar started to drop, and that encouraged gold to recover.  The real rally started during London trading hours, and gold steadily rose through the end of the day in NY.