Gold & Silver - Discussions

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  • davefairtex's picture
    Aug 28 2016 - 2:30am by davefairtex

    On Friday, gold fell -1.20 to 1320.70 on very heavy volume, while silver rose +0.10 to 18.64 on heavy volume.  Chair Yellen's speech was interpreted by the market as dovish, while the hawkish follow-on comments by Vice Chair Fischer combined to create a very volatile environment for gold and silver.  Although price did not change much by end of day, the trading range was large.

  • davefairtex's picture
    Aug 26 2016 - 6:21am by davefairtex

    Gold fell -2.10 to 1321.90 on moderately light volume, while silver rose +0.01 to 18.54 -0.30 to 18.53 on moderately heavy volume.  Both gold and silver made new lows, but managed to rebound, with silver doing a bit better than gold.

  • davefairtex's picture
    Aug 25 2016 - 5:42am by davefairtex

    Gold fell -13.60 to 1324.00 on moderately heavy volume, while silver was hit for -0.30 to 18.53 on moderately heavy volume.  Gold was pounded starting at 08:40 Eastern for no reason that I could discern, dragging silver down along with it.  Both metals closed at their lows for the day.

  • davefairtex's picture
    Aug 24 2016 - 4:49am by davefairtex

    Gold fell -1.60 to 1337.60 on moderately light volume, while silver was hit for -0.06 to 18.83 on moderately heavy volume. 

    Gold tried rallying modestly today but the rally failed.  Most of gold's modest move seemed to be driven by the buck, which dropped early but rebounded and closed flat by end of day.  Gold in turn avoided making a new low, and for the most part, there was no material change in direction today.

  • davefairtex's picture
    Aug 23 2016 - 2:02am by davefairtex

    Gold fell -2.30 to 1339.20 on moderate volume, while silver was hit for -0.45 to 18.89 on heavy volume.  Silver was pounded literally at the open in Asia by one of those designed-to-move-the-market spikes lower.  The spike successfully drove silver through 19.25 support - a 40 cent drop in 1 minute.  Surprisingly, gold mostly didn't follow silver lower.

  • davefairtex's picture
    Aug 20 2016 - 8:54am by davefairtex

    On Friday, gold fell -11.80 to 1341.50 on moderately heavy volume, while silver plunged -0.42 to 19.34 on heavy volume.  A medium-sized dollar rally appeared to kick off a large sell-off in silver and a more modest sell-off in gold.

    On the week, gold rose +4.10  [+0.31%], silver dropped -0.38 [-1.93%], GDX fell -3.51% and GDXJ moved down -1.92%.  Platinum was down -0.96%, palladium rose +2.69%, and copper moved up +1.26%.

  • davefairtex's picture
    Aug 19 2016 - 3:34am by davefairtex

    Gold rose +3.60 to 1353.30 on moderate volume, and silver climbed +0.06 to 19.76 on heavy volume.  The buck had another fairly large down day which probably caused the small rally in gold and silver.

    The weak dollar helped gold move higher today, but the size of the move in gold was substantially smaller than the drop in the buck.  That is, the buck dropped a lot, and gold rose just a little.  This isn't a very good recipe for higher gold prices because at some point, the dollar move will end, and then what will support higher gold prices?

  • davefairtex's picture
    Aug 18 2016 - 3:40am by davefairtex

    Gold rose +2.30 to 1349.70 on moderate volume, while silver fell -0.14 to 19.70 on heavy volume.  Both metals sold off in advance of the FOMC minutes release at 14:00 Eastern, with silver dropping much more than gold.  Post-release there were the usual spikes in both directions, after which gold moved back into the green, while silver did not.

  • davefairtex's picture
    Aug 17 2016 - 5:20am by davefairtex

    Gold rose +7.00 to 1347.40 on moderate volume, while silver climbed +0.01 to 19.84 on moderate volume also.  A big dollar sell-off initially caused a PM rally, which lasted right up until the 08:30 CPI release, after which both gold and silver were pounded lower, with silver suffering more than gold.

  • davefairtex's picture
    Aug 16 2016 - 6:05am by davefairtex

    Gold rose +3.00 to 1340.40 on light volume, while silver climbed +0.11 to 19.83 on light volume also.  The buck drifted lower, energy staged a strong rally, and gold went basically sideways in a narrow trading range.

    I could use a lot of words, but it would sum to "nothing much happened today in gold."   No new highs, no new lows, volume was quite light, trading range was narrow, and gold remains below its 9 EMA.

    Gold open interest fell by -1,732 contracts today.