Gold & Silver - Discussions

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  • davefairtex's picture
    Feb 12 2016 - 2:31am by davefairtex

    Gold screamed higher today, up +49.60 [+4.14%] to 1247.00 on exceptional volume; silver climbed +0.50 [+3.27%] to 15.80 on very heavy volume.  Gold spiked through its previous high early in Asia trading and just never looked back; silver followed gold, underperforming but still doing fairly well.

  • davefairtex's picture
    Feb 11 2016 - 3:36am by davefairtex

    Gold rose +8.00 to 1197.40 on heavy volume, while silver climbed +0.05 to 15.30 on heavy volume too.  Gold was hit in Asia, dropping to 1181 where it found support and rallied right back, closing at the highs for the day.  Silver largely followed gold.

    While gold initially looked as though it was heading into the decline I've been anticipating, the continued weakness of the US equity market, a new low in oil prices, and a failed rally in the buck all seemed to place a strong bid under PM in general and gold in particular.

  • davefairtex's picture
    Feb 10 2016 - 4:59am by davefairtex

    Gold fell -0.20 to 1189.40 on very heavy volume, while silver dropped -0.07 to 15.25 on heavy volume.  Gold attempted to rally above 1200 for the second day, and failed.  A relatively large drop in the buck was not enough to propel gold higher today; that's not a great sign.

  • davefairtex's picture
    Feb 9 2016 - 1:54am by davefairtex

    Gold rose +15.50 to 1189.60 on extremely heavy volume, while silver climbed +0.30 to 15.32 on very heavy volume.  Gold is now moving in opposition to equities; as SPX sold off today, gold climbed higher.  A failed rally in the buck didn't hurt either.

  • davefairtex's picture
    Feb 6 2016 - 6:08am by davefairtex

    On Friday, gold rose +18.10 to 1174.10 on very heavy volume, and silver was up +0.16 to 15.03 on heavy volume.  Market-moving event today was the Nonfarm Payrolls report, which had a weak headline number but a big rise in average hourly earnings.  Gold initially sold off, then rallied hard into the close.  It appeared that nobody wanted to be short gold going into the weekend.  Since the dollar rallied strongly too, gold's big move higher on Friday was especially impressive.  Silver followed gold, but was substantially less enthusiastic, as has been the case now

  • davefairtex's picture
    Feb 5 2016 - 2:42am by davefairtex

    Gold rose +13.00 to 1156.00 on very heavy volume, while silver climbed +0.18 to 14.87 on heavy volume.  Once again, today's gold story was mostly about currency: the buck lost another -0.81 [-0.84%], adding to yesterdays large move down.  Gold priced in Euros has just been chopping sideways.

  • davefairtex's picture
    Feb 4 2016 - 2:23am by davefairtex

    Gold rose +13.40 to 1143.00 on very heavy volume, while silver shot up +0.38 to 14.69 on very heavy volume as well.  However, the move today was all about currency: today, the buck lost -1.56 [-1.58%], a massive one-day drop that threw the dollar into a clear downtrend.  This caused serious chaos in the market, with money fleeing first one way, then another.

  • rfbroadband's picture
    Feb 3 2016 - 6:21pm by rfbroadband

    I am trying to understand how the value of  35$/oz for the gold revaluation were chosen in 1934. Prior to that the money supply was falling and by changing the value of gold from 20.67$ to 35$ the government transferred effectively 11B$ to the FED balance sheet (not sure if I remember that correctly..)

  • davefairtex's picture
    Feb 3 2016 - 1:00am by davefairtex

    Gold rose +1.00 to 1129.60 on moderate volume, while silver fell -0.04 to 14.31 on moderate volume also.  Gold traded sideways within a range, as did silver.  Both metals seemed relatively immune to the second day of plunging oil prices.

  • davefairtex's picture
    Feb 2 2016 - 2:46am by davefairtex

    Gold rose +10.20 to 1128.60 on moderate volume, while silver climbed only +0.09 to 14.35 on moderate volume also.  Gold rose steadily all day long, while silver followed the same track but less enthusiastically.  Oil was absolutely hammered today, and that likely didn't help silver; the dollar fell, which supported gold.  There were lots of cross currents to sort through.