Gold & Silver - Discussions

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  • davefairtex's picture
    Dec 20 2014 - 8:49pm by davefairtex

    On Friday gold dropped -3.70 to 1194.50 on light volume, and silver rose +0.19 to 16.07 also on light volume.  This actually looks like a good day to me, as the dollar rose +0.38 to a new high of 89.84.

    Mining shares faded a bit, with GDX down -1.23% on moderately light volume, while GDXJ dropped -2.58% on moderately heavy volume.  Mining shares remain above their EMA 9, and after two strong rally days some selling can be expected.

  • Pinkie B's picture
    Dec 19 2014 - 8:31pm by Pinkie B

    So, I'm almost ready on a psychological level to start owning precious metals. I have some questions still lingering, though, and I was hoping for opinions.

  • davefairtex's picture
    Dec 18 2014 - 10:16pm by davefairtex

    Gold moved higher today, closing up +9.00 to 1198.20 on moderate volume, while silver rose +0.12 to 15.88 on moderately light volume.  Gold started rallying early in asia, and spiked as high as 1214 during the London session, but lost most of its gains during NY, printing an inverted hammer candle.  Silver more or less followed gold.  For both, today was a failed rally day.

  • Adam Taggart's picture
    Dec 18 2014 - 2:58pm by Adam Taggart

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  • davefairtex's picture
    Dec 17 2014 - 10:25pm by davefairtex

    True to form, the FOMC provided lots of volatility; gold closed down -6.10 to 1189.20 on moderately heavy volume, while silver rose +0.03 to 15.75 on moderate volume.  The publication of the meeting statement caused gold to oscillate in a $30 price band before deciding to close lower.  Silver did somewhat better, having a more positive bias going into the meeting.

  • davefairtex's picture
    Dec 16 2014 - 8:16pm by davefairtex

    Gold had a wild day today, making a new low, rising almost to yesterday's high, and then losing most of its gains, closing up just +1.50 to 1195.30 on very heavy volume.  Silver did less well, following gold but eventually closing down -0.47 to 15.72 on heavy volume.  Today moves seemed closely linked to the USD, with the turning points in gold and silver coinciding with the highs and lows of the buck.

  • davefairtex's picture
    Dec 15 2014 - 9:01pm by davefairtex

    Gold was hammered for $28.30 to 1193.80 on moderately heavy volume, while silver was crushed, dropping -0.85 to 16.18 on moderate volume.   Everything seemed to be doing all right until the early afternoon in US trading, when gold, silver, and the miners just started selling off - first slowly, and then more rapidly in a series of waterfall moves lower.  The selling didn't stop until the market closed.

    It is possible PM was being sold in advance of the FOMC meeting, scheduled to start tomorrow and finish on Wednesday.

  • Pinkie B's picture
    Dec 15 2014 - 12:29am by Pinkie B

    Hi Fellow Crash Prosperers!

    I am new to this group, but not new to this concept. I am an American expatriot located in western Tokyo. I am interested in buying gold, but I don't know where to start. Since I'm an expat who doesn't read Japanese so well, things are a little hard, but I'm ready to learn!

    As we say in Japan, Yoroshiku Onegaishimasu! (Nice to meet you!)


  • davefairtex's picture
    Dec 13 2014 - 10:20am by davefairtex

    On Friday gold dropped -5.60 to 1222.10 on moderate volume, while silver dropped -0.06 to 17.03 on light volume.  Both metals traded mostly sideways for most of the trading day.

    Mining shares were not so fortunate, with GDX selling off -1.82% on moderate volume, and GDXJ down -2.32% also on moderate volume.  GDXJ:GDX made new lows again, the juniors leading the senior miners lower.

  • davefairtex's picture
    Dec 12 2014 - 1:29am by davefairtex

    Gold rose +2.10 to 1227.70 on moderate volume, and silver rose +0.02 to 17.09 on light volume.  Gold had a wide trading range but ended up largely unchanged, while silver traded in a narrow trading range.  Gold looks to have a pretty strong bid underneath it right now; dips are being bought, and what's not to like about that?

    The dollar rebounded strongly today after being down three days in a row, closing up +0.40 to 88.62, just above its EMA-9.  The buck remains in its strong uptrend.