Gold & Silver - Discussions

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  • davefairtex's picture
    Apr 25 2015 - 8:03am by davefairtex

    On Friday, gold fell -13.40 to 1179.90 on heavy volume, while silver dropped -0.14 to 15.72 on heavy volume too.  Today gold's weakness wasn't about currencies - it was just about traders selling gold: gold priced in Euros was down -1.57%.  For a change, silver outperformed gold, hinting that silver might be nearing a low.

    On the week, gold ended down -23.90 [-1.99%], silver fell -0.53 [-3.26%], GDX dropped -1.83% and GDXJ fell -1.67%.

  • davefairtex's picture
    Apr 24 2015 - 5:37am by davefairtex

    Gold rebounded +6.70 to 1193.30 on moderate volume, while silver rose +0.09 to 15.85 on moderately heavy volume.  Since the buck fell -0.70% today, the PM rally today can be entirely explained by currency moves; gold in Euros actually fell -0.36%.

    After dropping $15 yesterday, the $7 rally is not much of a bounce, especially given the very weak dollar today.  Gold still looks weak.  Adding to this sense, over the past two weeks, the volume on each up-day is much lower than the volume on the down days.  That's always a bearish sign.

  • davefairtex's picture
    Apr 23 2015 - 4:47am by davefairtex

    Gold plunged -15.20 to 1186.60 on heavy volume, while silver fell -0.22 to 15.76 on heavy volume as well.  Gold and silver started to sell off a few hours before the NY open, and the move lower really accelerated immediately following a very positive Existing Home Sales report at 10:00 EST.

  • davefairtex's picture
    Apr 22 2015 - 9:35am by davefairtex

    Gold rallied +6.00 to 1201.80 on moderate volume, while silver rose only +0.04 to 15.98 on heavy volume.  Gold continues to plod sideways in its trading range, while silver tried to rally but failed, printing an inverted hammer candle on the day.  Silver continues to underperform gold.

    Gold's trading range has been narrowing steadily over the past month; the denoument of this pattern is not more than a few days away, but it is uncertain which direction it will take.

  • davefairtex's picture
    Apr 21 2015 - 3:55am by davefairtex

    Gold fell -8.00 to 1195.80 on moderate volume, while silver dropped a big -0.31 to 15.94 on heavy volume.  PM started falling prior to the NY open - the rising dollar did not help, and a big drop in copper on the day dragged PM prices lower.  Silver made new cycle lows on the day.

  • Morpheus's picture
    Apr 19 2015 - 11:22pm by Morpheus

    Over a month ago I purchased a small lot of 1/10 th oz American Eagle gold coins from an otherwise very reputable online dealer.  

    That purchase was March 15th, 35 days ago. Now, I paid 6 days later, and they have a 7 day clearing period even for the bank check that I sent them, so that left them 22 days to full the order. It still has not been filled to date.  

    I sent them an email inquiring and they basically told me this..

  • davefairtex's picture
    Apr 18 2015 - 11:56am by davefairtex

    On Friday, gold rose +5.90 to 1203.80 on moderate volume, while silver fell -0.02 to 16.25 moderate volume too.  Gold traded in a relatively narrow range, but by end of day it did manage to squeak back above its 50 MA.  Silver did not do as well.

    On the week, gold ended down -4.30 [-0.36%], silver fell -0.24 [-1.46%], GDX rose +1.39% and GDXJ climbed +1.15%.

  • davefairtex's picture
    Apr 17 2015 - 3:22am by davefairtex

    Gold fell -3.70 to 1197.90 on moderately heavy volume, while silver dropped -0.03 to 16.26 on moderate volume.  Both gold and silver fell during NY trading, and in spite of the very weak dollar (down a big -0.91) neither gold nor silver were able to get back to even by end of day.

    Gold in Euros was down -1.03% - in USD, that would be down $12 on the day.  Gold's inability to rally on what should have been a positive day based simply on currency effects suggests gold remains weak.  For some reason, it's just not ready to rally just yet.

  • davefairtex's picture
    Apr 16 2015 - 3:44am by davefairtex

    Gold rose +9.70 to 1201.60 on moderate volume, while silver climbed +0.17 to 16.30 on moderate volume as well.  PM was assisted by the falling dollar which dropped -0.42%, and also by a great day for commodities, which rose 2.03%.

    Gold rallied in Euros as well, climbing +0.52%.  This tells us that gold had a good day independent of currency effects.  Gold also marked a swing low - more or less anyway.

  • davefairtex's picture
    Apr 15 2015 - 4:44am by davefairtex

    Gold dropped -6.70 to 1191.90 on heavy volume, while silver fell -0.13 to 16.12 on moderately heavy volume.  PM sold off during Asia and London trading, with gold touching 1183.50 immediately prior to the Retail Sales report at 0830.  Once the report hit, PM rallied back, but not strongly enough to move PM back into the green on the day.