Gold & Silver - Discussions

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  • davefairtex's picture
    Jul 27 2016 - 3:42am by davefairtex

    Gold rose +1.30 to 1320.80 on moderate volume, while silver climbed +0.04 to 19.68 on light volume.

  • Bill Pfeiffer's picture
    Jul 26 2016 - 9:03am by Bill Pfeiffer

    Gold is discussed regularly here as a sound investment in a house of cards economy. Ok, but what about the environmental consequences? Are ETF's any better/cleaner? Are they supporting"old gold" or just another way to bring personal reward while poisoning the water and degrading the land? Obviously, I would like to invest $ safely without increasing my already huge footprint of being American.

  • davefairtex's picture
    Jul 26 2016 - 6:13am by davefairtex

    Gold fell -3.90 to 1319.50 on moderate volume, while silver fell -0.04 to 19.65 on moderate volume also.

    On the chart, we see that gold found support today at around 1310 before popping back up to close just below that old 1320 support level.  However that's not exactly how things closed from my perspective; the "settle price" for gold futures is at 13:30 Eastern, and that's the price stockcharts uses for its candle prints.  However, my trading app shows that gold ended the day (at 16:59) at 1315.30, which is an uglier close.

  • davefairtex's picture
    Jul 23 2016 - 2:49pm by davefairtex

    On Friday, gold fell -7.60 to 1323.40 on moderate volume, while silver fell -0.13 to 19.69 on moderately light volume.  A strong dollar rally and weak commodity prices dragged gold and silver prices lower.

    On the week, gold fell -14.30 [-1.07%], silver fell -0.61 [-2.99%], GDX dropped -3.65%, and GDXJ declined -6.07%.  Platinum fell -0.96%, palladium shot up +5.52%, and copper rose +0.11%.   Both PM and industrial metals generally faded this week - palladium was the outlier.

  • davefairtex's picture
    Jul 22 2016 - 4:18am by davefairtex

    Gold rose +11.70 to 1331.00 on moderately heavy volume, while silver climbed +0.20 to 19.82 on moderate volume.  Both gold and silver made new lows in Asia trading, but buyers showed up in force, wiping out much of the losses from yesterday's fairly large move down.

  • davefairtex's picture
    Jul 21 2016 - 3:23am by davefairtex

    Gold fell -16.40 to 1315.80 on moderate volume, while silver dropped -0.50 to 19.47 on moderate volume.  PM finally started sinking in earnest today; after months of trying, the commercials are finally having things their way.

  • davefairtex's picture
    Jul 20 2016 - 5:14am by davefairtex

    Gold rose +3.00 to 1332.30 on heavy volume, while silver dropped -0.07 to 20.01 on light volume.  The buck staged a strong rally today providing headwinds for commodities and PM.

    Gold traded in a narrow range, printing a relatively innocuous spinning top candle. That's a decent performance given the dollar rally.  Current trend remains down.  Gold remains below its 9 EMA, and above the 1320 support level.  Gold needs a close over that EMA 9 (1337.43) to get the ball rolling to the upside again.

  • davefairtex's picture
    Jul 19 2016 - 3:30am by davefairtex

    Gold fell -8.40 to 1329.30 on moderately light volume, while silver dropped -0.22 to 20.08 on moderate volume.  Silver was hit about five minutes after the open in Shanghai; price headed lower until mid-day in London, when buyers appeared driving price back up.

  • davefairtex's picture
    Jul 17 2016 - 1:30am by davefairtex

    On Friday, gold rose +2.10 to 1337.70 on moderate volume, while silver fell -0.07 to 20.30 moderate volume also.  A strong Retail Sales report on Friday caused the buck to jump and gold to drop before the US market open - but both gold and silver's losses vanished right before market close as buyers showed up in force.  Perhaps traders didn't want to be short going into the weekend.

  • davefairtex's picture
    Jul 15 2016 - 5:22am by davefairtex

    Gold fell -7.70 to 1335.60 on moderately heavy volume, while silver dropped -0.05 to 20.36 on moderate volume.

    Gold was driven lower during the Asia trading session, but managed to find support at 1320, when the buyers appeared and pushed prices back up.  The candle print today was a spinning top, which in this situation is about evenly split between bullish and bearish.  That suggests to me that the current downtrend likely continues, although gold does not look to be in any hurry about moving lower.