Gold & Silver - Discussions

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  • davefairtex's picture
    Mar 28 2015 - 5:52pm by davefairtex

    On Friday gold fell -5.30 to 1198.30 on moderately heavy volume; silver dropped -0.13 to 16.97 on moderate volume.  Gold sold off today but managed to recover some of its losses; it as a result it has yet to mark a swing high, and it remains clearly above its 9 EMA.  This tells me that the two-week gold rally is still very much alive, in spite of the ugly hammer candle on Thursday.

  • Jim H's picture
    Mar 27 2015 - 10:13pm by Jim H

    GLD lost almost 6 tonnes of Gold on Thursday, leaving it with a new total of 737 tonnes.  Assuming it's all real.. that is a lot of Gold.  But how much Gold is it really?  How might we put this in perspective?

  • davefairtex's picture
    Mar 27 2015 - 6:17am by davefairtex

    Gold rose +9.00 to 1203.60 on heavy volume, and silver climbed +0.15 to 17.10 on moderate volume.  Gold and silver both rallied strongly in Asia trading, with gold hitting 1219.50 at its peak in London.  However the dollar eventually found buyers, and the rebound in the buck caused the rallies in both silver and gold to fail, with most of the gains lost by end of day.

  • davefairtex's picture
    Mar 26 2015 - 3:39am by davefairtex

    Gold rose +2.10 to 1194.60 on moderately heavy volume, while silver was up just +0.01 to 16.95 on moderately light volume.  Both gold and silver made new highs today, with gold hitting 1199.30 but neither metal was able to hold onto its gains.  If gold can rally above 1200 and close there, it will be a bullish sign.  Likely, that depends on what happens with the dollar.

    Today marks the sixth straight up-day for gold.  Spoiled yet?

  • davefairtex's picture
    Mar 25 2015 - 3:09am by davefairtex

    Gold climbed +3.70 to 1192.50 on moderately heavy volume, while silver fell -0.03 to 16.94 on moderate volume.  PM traded mostly sideways all day long, with gold performing slightly better than silver.  Gold has climbed for five days in a row.  That hasn't happened for a while.  Volume in gold continues to be strong and steady on the move higher, which is a positive sign.

  • davefairtex's picture
    Mar 24 2015 - 3:30am by davefairtex

    Gold rose +7.10 to 1188.80 on moderately heavy volume, while silver climbed +0.25 to 16.98 on moderate volume.  PM traded lower in Asia trading as the dollar rallied, but started to climb once the dollar started to weaken around 5am EDT.   Silver performed especially well.

  • davefairtex's picture
    Mar 21 2015 - 4:00am by davefairtex

    On Friday gold rose +11.20 to 1181.70 on moderately heavy volume, while silver rose +0.61 to 16.73 on heavy volume.

    Gold's move up, while welcome, was primarily a currency effect; with the dollar down -1.42%, to stay even in international price terms, gold should have rallied at least that much.  It didn't.  My sense: gold is weakly rebounding, encouraged by massive moves in the currency market.  1190-1200 is the next resistance zone for gold to overcome.

  • davefairtex's picture
    Mar 19 2015 - 11:19pm by davefairtex

    Gold continued moving higher today, closing up +4.10 to close at 1170.50 on moderately heavy volume, while silver rose +0.22 to 16.11 on moderate volume.  Gold traded mostly sideways with a positive bias, while silver rallied during NY trading hours.

  • davefairtex's picture
    Mar 19 2015 - 2:11am by davefairtex

    Gold blasted higher, closing up +18.30 to 1166.40 on heavy volume, while silver climbed +0.36 to 15.89 on moderate volume.  PM traded mostly sideways up until the FOMC announcement at 1400 EDT, whereupon gold and silver both screamed higher and the dollar fell off a cliff on the news that the Fed was removing the word "patient" from their forward guidance, but at the same time signaling they were in no hurry to raise rates.

  • davefairtex's picture
    Mar 18 2015 - 12:40am by davefairtex

    Gold dropped -5.70 to 1148.10 on heavy volume, while silver fell -0.10 to 15.53 on moderately light volume.  Gold traded sideways until an hour before the NY open when it sold off sharply, making a new low of 1141.60.  An hour later it rallied even more strongly, rising to 1159.30 but then sold off again.  As a result, both longs and shorts were run in the day prior to the FOMC policy annoucement scheduled for 1400 EDT tomorrow.

    Patient.  Here are my three scenarios for what happens after 1400 tomorrow: