Gold & Silver - Discussions

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  • hydnum_repandum's picture
    Oct 31 2014 - 7:19am by hydnum_repandum

    [UK based but of interest to all.]

    It is common knowledge that 'paper' gold is not a substitute for physical metal because in times of crisis it may well be worthless. This post takes that as a given. I want to discuss the various different ways to get exposure to physical metal and their relative merits. This is not discussed enough.

    As I see it, there are three ways to own physical gold (and silver):

    gold, silver
  • davefairtex's picture
    Oct 31 2014 - 3:36am by davefairtex

    Gold dropped -12.80 to 1199.00 on extremely heavy volume, and silver dropped a massive -0.63 to close at 16.43 also on extremely heavy volume.  Both metals started selling off in the afternoon during the Japan trading session, and the selling just didn't stop until late morning in NY, with silver hitting lows of 16.33 and gold 1195.  Silver was absolutely clobbered, and the big volume happened when it was driven below the previous low of 16.63 at around 0830 EDT, when a bunch of longs were stopped out.  The gold/silver ratio rocketed higher today, closing up +1.94 to 72.8

  • davefairtex's picture
    Oct 29 2014 - 9:04pm by davefairtex

    Gold was hammered following the FOMC minutes release at 1400 EDT, closing off -16.20 to 1211.80 on moderately heavy volume; silver dropped -0.10 to 17.08, a proportionally much smaller decline.   Silver is actually doing better than gold - causing the gold/silver ratio to drop -0.51 to 70.95.

  • davefairtex's picture
    Oct 29 2014 - 2:45am by davefairtex

    Gold rose +2.70 to 1228.00 on moderately heavy volume, while silver rose +0.08 to 17.18 on moderate volume.  PM was generally positive today - it rallied early and then spiked up hard at 0830 EDT on a "soft" durable goods report, but sold off as the day wore on, keeping only a small amount of gains by the close.  The spike higher blew through the EMA-9 and stopped out a bunch of shorts, but it was clear that the longs were not interested in chasing prices higher and dropped back down by end of day.  Bottom line: another failed rally for gold & silver.  That

  • davefairtex's picture
    Oct 27 2014 - 9:56pm by davefairtex

    Gold dropped -5.90 to 1225.50 on light volume, and silver was down -0.09 to 17.10 also on light volume.  Gold and silver traded in a relatively narrow range, trailing off at the end of the day and closing at the lows.  The light volume suggests little interest on either side, with the mood remaining bearish.

  • Robert Steinhilber's picture
    Oct 27 2014 - 1:40pm by Robert Steinhilber

    I purchased a precious metals IRA some years ago (Gold coins and bars & Silver bars)- unfortunately my metals are not held in a segregated, allocated account. I inquired about rolling over my holdings into an allocated account; I was informed that they do not segregate silver, and that I was better off not worring about it.
    I am still determined to move to an allocated account, even if it means moving my IRA to a different company, if necessary.
    Has anyone out there had a similar experience, or have any reccomendations about this, regarding providers, etc.?

  • davefairtex's picture
    Oct 25 2014 - 1:26pm by davefairtex

    On Friday gold dropped -1.00 to 1231.20 on moderate volume, while silver was up +0.01 to 17.19 on light volume.  Both gold and silver traded sideways for most of the trading day.

    Miners did not confirm any reversal from their strong performance Thursday.

    For the week, gold was down -7.30 [-0.59%], silver down -0.08 [-0.43%], GDX -1.06% and GDXJ -4.77%.

  • davefairtex's picture
    Oct 23 2014 - 10:49pm by davefairtex

    Gold dropped -9.10 to 1232.20 on moderately heavy volume; silver actually rose +0.02 to 17.18 on moderate volume.   Gold sold off during London trading hours, spiking down hard early in NY as the dollar made a new high.  As the buck retreated, gold recovered some of its losses.  Silver dropped to 17.03 before rebounding, printing a modestly bullish doji candle.  Silver actually outperformed gold today - it looks to have more support than usual.  My guess: oil did well, so silver was happy.

  • davefairtex's picture
    Oct 22 2014 - 8:23pm by davefairtex

    Gold dropped -8.40 to 1241.30 on moderate volume; silver dropped -0.34 to 17.16 also on moderate volume.  Gold traded more or less sideways until 0830 EDT, when the CPI release (showing softer than expected inflation) caused gold to drop $8.  Gold never really recovered from that drop.  Silver just sold off all day long, closing at the lows of the day.  The gold/silver ratio jumped +0.95 to a new multi-year high of 72.34.

  • davefairtex's picture
    Oct 21 2014 - 8:40pm by davefairtex

    Gold closed up +2.30 to 1249.70 on moderately heavy volume; silver was up +0.08 to 17.50 on moderate volume.   Gold tried rallying twice today at one point hitting 1255.60 and breaking through its 50 MA, but it failed to hold onto its gains and sold off into the close, printing an inverted hammer on the day.  Silver for once outperformed gold.