Gold & Silver - Discussions

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  • davefairtex's picture
    Apr 24 2014 - 1:04am by davefairtex

    Gold closed up +1.50 to 1284.60 on moderate volume, silver was up +0.06 to 19.45 on moderately heavy volume.  Both metals traded in a narrow range today, basically moving sideways on reasonably good volume.

    The dollar was relatively volatile today but closed almost even, off -0.04 to 79.95.

  • davefairtex's picture
    Apr 23 2014 - 1:11am by davefairtex

    Gold closed down -7.20 to 1283.10 on moderately heavy volume; silver was off only -0.05 also on moderately heavy volume.  Gold traded sideways until 0800 EDT in NY, at which point it tipped over and starting to sink.  Low for the day was 1275.80, a new cycle low, and it was hit at 1135 EDT - a 4000 contract down spike that broke support and tripped a bunch of long stops.  Gold rebounded quickly from the spike down, but not very far.

  • davefairtex's picture
    Apr 22 2014 - 1:12am by davefairtex

    Gold closed off -4.30 to 1290.30 on moderate volume - silver was down -0.21 also on moderate volume.  Gold was hammered early in asia trading hitting 1281.60 at one point, but it then rallied steadily into the close in NY.  Silver was hammered harder in asia, and recovered a bit less well.  This pushed the gold/silver ratio up near the cycle high, to 66.37.  Silver looks weak, but this time we can't blame copper, which is hanging on near 3.05.

  • davefairtex's picture
    Apr 19 2014 - 11:35pm by davefairtex

    This week gold was off -23.80 [-1.81%] silver down -0.31 [-1.51%] GDX -2.68% and GDXJ -5.15%.  On Tuesday gold sold off quite hard.  To me this was not entirely unexpected, since gold had been rallying on declining volume, which is generally not a bullish sign - this sort of "rising on low volume" (i.e. tepid buying interest) just encourages the shorts to eventually jump in, just like they did.  Now gold is below all 3 of its moving averages, and seems to be on the path of re-testing 1280 support.

  • davefairtex's picture
    Apr 17 2014 - 10:35pm by davefairtex

    Gold closed off -7.70 to 1294.60 on moderate volume - silver was up +0.02 on moderate volume.  Gold more or less moved slowly lower today, while silver traded sideways within a relatively narrow range.  From the standpoint of the metals, the day was relatively uneventful.

  • davefairtex's picture
    Apr 17 2014 - 12:04am by davefairtex

    Gold closed down -0.40 to 1302.30 on moderately heavy volume - silver was up +0.05 to 19.63 on moderate  volume.  Gold traded sideways within a small trading range, while silver moved around a bit more, trying to rally along with copper at around 0820 EDT and more or less failing.

  • davefairtex's picture
    Apr 16 2014 - 1:06am by davefairtex

    Gold closed down -24.40 to 1302.70 on extremely heavy volume - silver was off -0.38 to 19.58 also on extremely heavy volume.  The shorts started in on PM early in asia trading, and as the day wore on, they kept hammering gold until the price finally collapsed at 8:27 am in NY where gold spiked down $14 in one minute knifing clean through the 200 day MA, liquidating 4k long contracts and briefly touching 1284.

  • davefairtex's picture
    Apr 15 2014 - 12:07am by davefairtex

    Gold closed up +8.70 to 1327.10 on moderate volume; silver was unchanged at 19.96 also on moderate volume.  Gold opened up about $10 in Asia, likely because of the news from eastern Ukraine over the weekend - all those well armed but Definitely Not Russian troops occupying various government buildings.  Certainly if you don't resist Putin in Crimea, he'll definitely be satisfied.  Just like another guy who when given the Sudetenland was content once he got it (all those German speakers needed protection, you see), and that gift resulted in Peace in our Time.

  • davefairtex's picture
    Apr 12 2014 - 4:06pm by davefairtex

    On Friday, gold was up +0.30 to 1318.40 on light volume; silver was down -0.07 to 19.96 on moderate volume.  Both gold and silver traded mostly sideways within a tight trading range.  It wasn't very interesting.

  • davefairtex's picture
    Apr 11 2014 - 4:59am by davefairtex

    Gold closed up +5.40 to 1318.10 on moderate volume; silver was up +0.18 to 20.03 on heavy volume.  Both metals steadily rose up until the jobless claims report was released at 0830 EDT; the unexpectedly positive report caused gold to sell off, and silver to sell off even harder.  At one point silver had hit 20.40 setting a new high for this cycle, but it dropped off almost 40 cents from its daily peak.