Gold & Silver - Discussions

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  • davefairtex's picture
    Aug 16 2014 - 3:34am by davefairtex

    On Friday gold was down -8.40 to 1305.50 on extremely heavy volume, while silver was off -0.31 to 19.55  on heavy volume.  Gold sold off $20 prior to market open in NY, but then mostly recovered on the news about Ukraine artillery shelling a Russian armored column.  Silver sold off as well, but failed to recover, closing near the lows of the day.

  • davefairtex's picture
    Aug 15 2014 - 1:03am by davefairtex

    Gold closed up just +0.20 to 1313.90 on moderate volume, and silver rose +0.05 to 19.85 also on moderate volume.  At 0830 gold spiked higher above 1320 and silver almost to 20 at the time of the Jobless Claims report, but neither metal could not hold the gains for very long, eventually closing almost flat on the day.

    Trends remain the same - gold looks generally positive, while silver is threatening to drop below 19.75 and continues to show signs of distribution.

  • davefairtex's picture
    Aug 14 2014 - 3:30am by davefairtex

    Gold closed up +3.30 to 1313.70 on moderate volume, while silver was off -0.11 to 19.81 on heavy volume.  Gold rallied along with bonds, and the dollar took a hit at 0830 EDT at the time of the unexpectedly poor US Retail Sales report release.  Silver rallied too, but then sold off, touching a new cycle low of 19.70 before bouncing back modestly.

  • davefairtex's picture
    Aug 13 2014 - 3:06am by davefairtex

    Gold closed up +1.00 to 1310.40 on moderate volume, while silver was off -0.09 to 19.92 on moderately heavy volume.  Gold rallied strongly up through the morning in NY, but sold off after mid-day, losing almost all its gains by the close.  Silver underperformed once again, causing the gold/silver ratio to rise +0.35 to 65.78.

  • davefairtex's picture
    Aug 12 2014 - 3:12am by davefairtex

    Gold closed down -1.20 to 1309.04 on very light volume, while silver was up +0.09 to 20.01 on moderately light volume.  For a change, silver outperformed gold, dropping the gold/silver ratio -0.37 to 65.44.

  • davefairtex's picture
    Aug 9 2014 - 6:18am by davefairtex

    On Friday gold was down -3.90 at 1310.60 on heavy volume, while silver was off -0.07 to 19.92 also on heavy volume.  Gold tried rallying in Asia and London and at one point hit 1324, but sold off an hour before the NY open, producing a wide trading range, some heavy volume, and printing a possible reversal candle.

    Mining shares rallied initially but reversed on gold's weakness, with GDX up just +0.07% on light volume; GDXJ was down -1.25% on moderate volume.

  • davefairtex's picture
    Aug 8 2014 - 1:53am by davefairtex

    Gold closed up +7.60 to 1314.50 on moderately heavy volume, while silver was down -0.06 to 19.99 also on moderately heavy volume.  The continuing divergence between gold and silver caused the gold/silver ratio to rise +0.58 to 65.77.

  • davefairtex's picture
    Aug 7 2014 - 2:01am by davefairtex

    Gold closed up +17.30 to 1306.90 on heavy volume, while silver was up +0.26 to 20.05 also on heavy volume.  Today's rally pushed gold back above all three of its moving averages and broke out of its current downtrend; silver's move higher, while equal in percentage to gold, was not enough to recover from yesterday's drop.

  • davefairtex's picture
    Aug 6 2014 - 1:20am by davefairtex

    Gold closed up +0.40 to 1289.60 on moderately light volume, while silver was off -0.39 to 19.78 on heavy volume.  While gold took a modest dip down, found support at 1283 and then recovered closing even, silver was just sold hard all day, starting after 0700 EDT and not ending until the market closed.

  • davefairtex's picture
    Aug 4 2014 - 10:51pm by davefairtex

    Gold closed down -6.00 to 1289.20 on light volume, while silver was off -0.16 to 20.17 on moderately light volume.  Gold did not confirm the possible rebound from Friday; although volume was light, the lack of buying follow-through from Friday's rally is bearish.  Silver is starting to break down more rapidly; buyers are definitely more scarce in silver than in gold.

    Silver's drop below its 200 and 50 MA is also a bearish sign.