Gold & Silver - Discussions

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  • davefairtex's picture
    Aug 30 2014 - 5:16am by davefairtex

    On Friday gold was down -2.00 to 1288.00 on moderately light volume, while silver was down -0.02 to 19.51 on light volume.  Silver had yet another failed rally although this one was more modest than the last, while gold generally just moved lower within a trading range.  For whatever reason, traders did not look particularly eager to pick up gold or silver futures contracts before the holiday weekend.

  • davefairtex's picture
    Aug 29 2014 - 2:50am by davefairtex

    Gold closed up +6.30 to 1290.00 on moderately heavy volume; silver was up +0.10 to 19.53 on very heavy volume.  Both metals rallied strongly in early London trading sending shorts running for cover; gold held half of those gains into the close in NY, but silver - up maybe 50 cents on the day at one point, fell back almost to its starting point.  It was another failed rally for silver.

  • davefairtex's picture
    Aug 28 2014 - 1:09am by davefairtex

    Gold closed up +2.10 to 1283.70 on light volume, while silver closed up +0.10 to 19.43 on heavy volume.  Both metals are starting to form a low; silver is forming a trading range and has closed to right up against its downtrend line, and appears to be leading gold higher for the first time in a long while.

  • davefairtex's picture
    Aug 27 2014 - 3:00am by davefairtex

    Gold closed up +4.60 to 1281.60 on moderate volume, while silver closed up +0.01 to 19.33 on heavy volume.  Both metals rallied strongly right up to an hour before the US open, silver actually breaking above its downtrend line and up 33 cents on the day, only to sell off all day long in NY losing almost all of its gains: this sort of disappointing price action is called a "failed rally."

  • drbrucedale's picture
    Aug 26 2014 - 6:53am by drbrucedale

    Dear DaveFairTex:

    Can you suggest a couple of possible funds or other vehicles by which I might own physical gold in vaulted, segregated storage?  I have some money in a Schwab SEP IRA that I could probably use for a purchase like this.  Once again, your help is really appreciated.

    DaveFairTex
  • davefairtex's picture
    Aug 26 2014 - 5:04am by davefairtex

    Gold closed down -4.80 to 1277.00 on light volume, while silver was off -0.08 to 19.32  on moderately light volume.  While both metals managed to avoid making new cycle lows, it was only by a relatively slim margin.  The metals continue their slow downhill slide on mostly light volume with so far no support in sight. 

    Trading today was relatively subdued in gold - it just sort of slid slowly downhill all day long.  Silver tried a modest rally but failed.

  • davefairtex's picture
    Aug 23 2014 - 6:57am by davefairtex

    On Friday gold was up +4.50 1281.80 on moderate volume, while silver was down -0.02 to 19.40 on moderately heavy volume.  Gold and silver both rallied modestly today; gold held onto its small gain into the close, while silver did not.  After five straight down days and a loss of $35, a tepid $4 rally is not a great "buy the dip" showing for gold.

  • davefairtex's picture
    Aug 22 2014 - 4:16am by davefairtex

    Gold closed down -15.20 to 1277.30 on heavy volume, while silver was almost flat, down just -0.03 to 19.42  on moderately heavy volume.  Gold made a new cycle low, broke 1280 support, and drove through the 200 MA all in the same day.  Silver also set a new low, but rebounded into the close, printing a hopeful-looking hammer candle.

  • davefairtex's picture
    Aug 20 2014 - 11:39pm by davefairtex

    Gold closed down -3.70 to 1292.50 on moderately light volume, while silver was up +0.05 to 19.45 on moderately heavy volume.  While silver closed up today, the overall price action today was that of a failed rally; at one point silver was up +0.20 but failed to hold its gains, which I consider generally bearish.  Silver's downtrend remains intact, and gold is now starting to give way as well, having dropped 4 days in a row.

  • davefairtex's picture
    Aug 20 2014 - 3:09am by davefairtex

    Gold closed down -2.20 to 1296.20 on light volume, while silver was off -0.17 to 19.41 on moderate volume.  Silver just cannot seem to catch a bid, and the distribution volume pattern continues.  Silver's relentless drop has pushed the gold/silver ratio to 66.80.