Gold & Silver - Discussions

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  • 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.

  • davefairtex's picture
    Apr 9 2014 - 7:28pm by davefairtex

    Gold closed up +4.70 to 1312.70 on 1308 on moderate volume; silver was down -0.21 to 19.85 on heavy volume.  Both metals sold off during London trading, bottoming before the open in NY.  Silver was especially hard-hit, touching 19.60 at one point on a high-volume down-spike stopping out a number of longs.  However the FOMC minutes release at 1400 EDT caused both silver and gold to spike higher; apparently someone was pleasantly surprised by the contents.

  • davefairtex's picture
    Apr 9 2014 - 1:04am by davefairtex

    Gold closed up +11.10 to 1308 on moderate volume; silver was up +0.20 to 20.06 on heavy volume.  Both metals broke higher towards the end of the Tokyo session with gold in the lead.  Gold managed to set a new cycle high, while silver did not.  Neither metal held onto all its gains, retreating into the close.  While PM doesn't look like its a house afire, it does seem to be chewing higher, although I would have liked to see more movement on a day where the buck was so badly hurt, and more volume.  And a more bullish close, preferably above its 50 MA.

  • davefairtex's picture
    Apr 8 2014 - 1:48am by davefairtex

    Gold closed down -5.40 to 1296.90 on light volume, while silver was down -0.09 to 19.86 on very light volume.  As suggested by the volume, trading in PM was pretty lackluster today - not much happened of note.

  • davefairtex's picture
    Apr 6 2014 - 11:10am by davefairtex

    On Friday, gold rose +15.70 on moderately heavy volume to 1302.30. Silver closed up +0.13 to 19.95 on moderate volume.  When the nonfarm payrolls report was released at 0830 EDT there was some serious volatility, where a large number of both longs and shorts were stopped out during one violent 1 minute period.  After that, gold started moving higher.  The report didn't look all that significant to me, but who am I to judge?

  • davefairtex's picture
    Apr 3 2014 - 7:50pm by davefairtex

    Gold closed down -3.30 to 1286.60 on light volume, while silver was down -0.15 to 19.83 on light volume as well.  Both metals tried rallying in asia, and then sold off shortly after London opened.  Neither metal made new cycle lows today, but the failure to move higher off yesterday's rally is not a bullish sign.  Currently there does not feel like there is a lot of buying enthusiasm at the COMEX for either gold or silver.