Gold & Silver - Discussions

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  • davefairtex's picture
    Jul 27 2015 - 9:16pm by davefairtex

    Gold fell dropping -4.90 to 1093.50 on very heavy volume, while silver fell -0.20 to 14.51 on moderate volume.  Gold briefly moved above Friday's close in Asia trading, but that only lasted a few hours.  Gold was sold heavily during the London session and by the time the NY market opened, gold was in the red.  Perhaps it was Shanghai's big drop, its hard to say.

  • davefairtex's picture
    Jul 25 2015 - 12:55pm by davefairtex

    On Friday, gold rose +9.00 to 1098.40 on massive volume, while silver  climbed +0.10 to 14.71 on heavy volume.  Both metals made new lows on the day, but ended up reversing into the green, printing some nice-looking hammer candles.  This is the sort of thing we like to see after a long decline - massive volume, especially for gold, and a clear reversal bar.

  • davefairtex's picture
    Jul 23 2015 - 11:38pm by davefairtex

    Gold fell again today, dropping -3.40 to 1089.40 on very heavy volume, while silver fell -0.15 to 1461 on moderate volume.  Both gold and silver broke above yesterday's high in London trading, but then the sellers emerged and pushed prices slowly back into the red by the time the market closed in NY.

    Why did gold and silver have a hard time today?  My sense was, the overall commodity complex sold off, and just dragged PM down with it.

  • davefairtex's picture
    Jul 22 2015 - 7:06pm by davefairtex

    Gold fell today, dropping -7.40 to 1092.80 on heavy volume, while silver dropped -0.05 to 14.77 on moderate volume.  Gold mostly retreated today, making a low of 1085.60 before rebounding, while silver mostly traded sideways within a range.  The gold/silver ratio continues to improve - silver has been outperforming gold for the last four days.

  • davefairtex's picture
    Jul 21 2015 - 11:09pm by davefairtex

    After yesterdays gold-pocalypse, gold rose +3.50 to 1100.20 on heavy volume, while silver climbed +0.17 to 14.81 on moderately light volume.  Gold's extremely tepid rebound was made even more pathetic by the plunge in the buck, which dropped relatively hard on the day.  Gold in Euros closed down -0.73%.

    Gold tried rallying today and mostly failed.  If there are buyers out there, they haven't shown up yet.

  • davefairtex's picture
    Jul 20 2015 - 9:37pm by davefairtex

    Wow, what a bad day for gold.  It fell -35.60 [-3.14%] on massive volume, with most of the damage happening during the Asia trading session.  Silver was pounded lower too, but it lost a much more modest -0.17 [-1.15%] on very heavy volume.  This wasn't about the buck, or about commodities.  Those things shape the trend; today's move was about a trading gambit pure and simple - and it worked.

  • davefairtex's picture
    Jul 18 2015 - 2:01pm by davefairtex

    On Friday, gold dropped -11.50 to 1132.30 on moderately heavy volume, dropping briefly below the 1130 low before rebounding slightly.  Silver fell -0.13, continuing its slow decline targeted on retesting the low set two weeks prior.

  • davefairtex's picture
    Jul 16 2015 - 7:41pm by davefairtex

    Gold fell -4.70 to 1143.80 on moderately heavy volume, while silver dropped -0.12 to 14.94 on moderately light volume.  Once again, a strong dollar is giving gold heartburn.

    Gold made a new low today at exactly 08:30 EDT, at the time of the jobless claims report.  The report didn't look that interesting to me, but it appeared to cause gold to spike down and the dollar to start rallying.  Gold's violation of the prior low at 1141.60 is a bad sign, and suggests we will probably test 1130 in the not too distant future.

  • davefairtex's picture
    Jul 16 2015 - 1:33am by davefairtex

    Gold fell -5.80 to 1148.50 on moderately heavy volume, while silver dropped -0.28 to 15.06 on moderate volume.  Both metals started selling off right at 08:30, the time of the Producer Price Index, which was unexpectedly hot at a 0.4% month/month increase.  The buck rallied at that time, suggesting that the market saw this as suggesting that a Fed rate rise is more likely to happen.

  • davefairtex's picture
    Jul 14 2015 - 8:07pm by davefairtex

    Gold fell -2.70 to 1154.30 on moderate volume, while silver dropped -0.13 to 15.35 on light volume.  Both gold and silver rallied on the weak retail sales report at 08:30 EDT, but the rally did not last.

    Gold has been unable to close above its 9 EMA for the past 4 weeks.  Given this steady decline and the inability to close above the downtrending 9 EMA, I believe we probably test the 1140 low sometime this week.  I'm not sure 1140 will hold.