Gold & Silver - Discussions

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  • davefairtex's picture
    Jan 25 2015 - 6:35am by davefairtex

    I ran across these two speeches the other day, referenced by a GATA article about gold price suppression.

    The speeches were by the Director of Market Operations at the French Central Bank, and they were given to LBMA audiences.  In fact, you can see that both are sourced from the LBMA website.  They are from 2013 and 2014.

    The first, "Managing Gold as a Central Bank":

  • davefairtex's picture
    Jan 24 2015 - 4:35am by davefairtex

    On Friday gold fell -8.00 to 1294.10 on moderately heavy volume, while silver dropped only -0.01 to 18.33 on moderately light volume.  Gold sold off slowly for most of the day, dipping down sharply at around 1010 EST, but then rebounding slowly for the rest of the day.  Silver outperformed gold.

  • davefairtex's picture
    Jan 23 2015 - 1:19am by davefairtex

    Gold rose +9.10 to 1302.10 on heavy volume; silver gained +0.20 to 18.34 on moderate volume.  From a volatility standpoint, the ECB announcement didn't disappoint; gold sold off prior to the meeting hitting a low of 1279.10, but then climbed once the announcement was made, making a new high for this cycle eventually hitting 1307.80 at its peak.  The ECB 60 billion/month bond buy-fest plan was clearly gold and silver positive.

  • davefairtex's picture
    Jan 22 2015 - 4:16am by davefairtex

    Gold dropped -1.30 to close at 1293.00 on heavy volume; silver rose +0.14 to 18.14 on heavy volume as well.  Gold rose strongly during London trading, hitting a new high of 1307, only to sell off immediately after hints by the ECB they were going to print 50 Billion Euros/month through 2016.  Silver had a similar pattern.  Gold recovered somewhat, ending up printing a doji on the day, and silver printed an inverted hammer - both of these candles describe failed rallies, which hints at a possible top for this cycle in PM.

  • davefairtex's picture
    Jan 21 2015 - 3:29am by davefairtex

    Gold continued moving higher for the third trading day after the SNB de-pegged from the Euro, closing up +13.90 to 1294.20 on very heavy volume; silver rose +0.22 to 18.00 on heavy volume.  Most of the gains in gold came during London trading hours.

  • davefairtex's picture
    Jan 17 2015 - 4:18am by davefairtex

    On Friday gold rose +17.70 to 1280.30 on heavy volume, while silver moved up a huge +0.83 to 17.78 also on heavy volume.  Metals traded sideways until just after 0800 EST, at which point both metals started to rally.  The rally didn't stop until about mid-day.  I didn't see any particular trigger for the move higher.  Both metals closed relatively near their highs of the day.

    Volume continues to be strong, and silver is now catching up to gold; the gold/silver ratio dropped a big -2.07 this week to 71.99.

  • davefairtex's picture
    Jan 16 2015 - 12:48am by davefairtex

    Gold screamed higher today, up +33.50 [+2.73%] to 1262.60 on very heavy volume, while silver rose +0.11 to 16.95 on moderately heavy volume.  The move in gold was entirely driven by the stunning decision of the SNB to drop its peg to the Euro, announced at 0430 EST.  EUR/CHF dropped an unbelieveable 20 cents - from 1.20 to 1.00 - over the course of about an hour immediately following the announcement.  Gold started edging higher right after the decision, and as traders sorted out how they should react, the move gained momentum, finally blasting through the 200 MA after the NY

  • davefairtex's picture
    Jan 15 2015 - 1:34am by davefairtex

    Gold dropped -1.80 to 1229.10 on heavy volume; silver dropped -0.25 to 16.84 on moderately heavy volume.  Gold rallied strongly immediately prior to the NY open hitting a new cycle high of 1244.60, but the rally failed, and gold sold off into the close with gold printing another doji/inverted hammer.  1240 resistance is proving a tough nut for gold to crack; it seems to be able to rally through that level, but not close above it.  Two failed rallies on relatively high volume makes me a bit nervous in the near term for gold.

  • davefairtex's picture
    Jan 13 2015 - 11:53pm by davefairtex

    Gold fell -2.50 to 1230.90 on moderately heavy volume; silver rose +0.48 to 17.09 on heavy volume.  Today gold spiked up through the previous high at 1240 hitting 1244.50 during trading in Asia, but was unable to keep those gains into the close, resulting in a failed rally and an inverted hammer candle print.  Silver on the other hand had a very good day, breaking above its recent 5-day consolidation pattern, keeping most of its gains into the close.

  • davefairtex's picture
    Jan 12 2015 - 11:40pm by davefairtex

    Gold rose +10.00 to 1233.40 on moderate volume, while silver climbed +0.09 to 16.61 on light volume.  Gold suffered a bit of intraday weakness in Asia due to a dollar rally, but recovered in NY as the dollar weakened, closing near the highs for the day.  Silver followed along, but was less enthusiastic, likely because the commodity index did so poorly.