Gold & Silver - Discussions

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  • davefairtex's picture
    Sep 13 2014 - 5:09am by davefairtex

    On Friday gold dropped -9.60 to 1231.50 on moderately heavy volume, while silver was down -0.09 on moderate volume.  After breaking down early in asia, silver rebounded and traded sideways closing down only modestly.  Gold just sold off all day long, closing near the low.

    On Friday mining shares dropped again, with GDX off -1.61% on moderately heavy volume, while GDXJ was down -2.60% also on moderately heavy volume.  GDXJ seems to be doing somewhat better than GDX this week, and miners overall seem to be doing better than gold - minus the one bad day on Monday.

  • davefairtex's picture
    Sep 12 2014 - 12:04am by davefairtex

    Gold closed down -8.80 to 1241.10 on heavy volume, while silver was hit for -0.27 closing at 18.71 on very heavy volume.  Both metals were hammered lower prior to the US market open, and rallied modestly towards the end of the US trading session.  Importantly, both metals broke support, driving below their previous lows set back in June, stopping out a number of longs, and calling into question the 2014 PM rally.

  • FDR's picture
    Sep 11 2014 - 5:24pm by FDR

    Dan Popescu exclusive interview with Gary Christenson (The Deviant Investor):

  • davefairtex's picture
    Sep 10 2014 - 11:35pm by davefairtex

    Gold closed down -6.70 to 1249.90 on moderately heavy volume, while silver was off -0.11 to 18.98 on moderate volume.  Both gold and silver failed to confirm their doji prints from yesterday, and gold made a new low, invalidating any rebound signal.  Intraday, gold hit a low of 1244 today; it looks like a test of 1240 is inevitable.

  • davefairtex's picture
    Sep 9 2014 - 11:31pm by davefairtex

    Gold closed up +0.30 on moderately heavy volume, while silver was up +0.03 on moderate volume.  Both metals made new intraday lows today with gold touching 1248 and silver 18.89, but both rebounded in the last hour of trading in NY to close slightly above even.  Gold printed a doji and silver - more or less a doji as well.  These are good candles to see if you are looking for a low, especially with the decent volume today in gold.

  • davefairtex's picture
    Sep 9 2014 - 1:09am by davefairtex

    Gold closed down -13.00 on moderate volume, while silver was off -0.17 on light volume.  Once again PM tried to rally but dollar strength proved too much.  Both metals made new cycle lows, gold looking weaker than silver.  Silver did manage to find some support at 19.

  • davefairtex's picture
    Sep 6 2014 - 6:22am by davefairtex

    On Friday gold was up +7.60 to 1269.30 on moderate volume, while silver was up +0.14 on light volume.  There was some volatility at 0830 EDT at the time the disappointing Nonfarm Payroll report was released, but in general both gold and silver were steadily positive today, although volume was relatively light.

  • davefairtex's picture
    Sep 5 2014 - 1:01am by davefairtex

    Gold closed down -8.30 on heavy volume, while silver was down -0.12 on moderately heavy volume.  Metals were looking mildly positive up until the ECB announced it was going to print money and drop deposit rates to -0.2%; PM first bounced higher, and then steadily sold off into the close.  Gold made new lows, as did silver.

    Gold longs in the US may be wondering how its possible that the ECB can print money, and gold sells off.  Is it manipulation by the central banks?  Well, gold's action today depends on what currency you are viewing gold in.

  • davefairtex's picture
    Sep 4 2014 - 5:05am by davefairtex

    Gold closed up +3.50 on moderate volume, while silver was up +0.02 on light volume.  Rebounds in both metals after yesterday's large move down were very modest, and volume was generally light.  If you are a PM bull, this is not what you want to see: tepid buying interest after a large drop in price.  It is better than a further drop in price, but not all that much better.  It definitely does not signal a change in trend.

  • davefairtex's picture
    Sep 3 2014 - 5:00am by davefairtex

    Gold was driven down -21.50 on very heavy volume; silver was down -0.33 on heavy volume.  This is why I don't like tepid, low volume rallies like we saw last week - they show weak buying interest, which tends to encourage the shorts to pounce.  Gold was hammered five different times intraday starting early in asia and ending just after 1030 EDT, breaking support and forming a new cycle low.  Silver was the follower rather than the leader, and at least judging by the charts looks stronger than gold.