Gold & Silver - Discussions

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  • davefairtex's picture
    May 22 2015 - 3:28am by davefairtex

    Gold fell +3.00 to 1206.30 on moderate volume, while silver rose +0.06 ot 17.16 on light volume.  Gold and silver dropped about 45 minutes prior to the US market open, but managed to recover by end of day, with silver outperforming gold.

    There were a slew of economic reports released today:

  • davefairtex's picture
    May 21 2015 - 3:14am by davefairtex

    Gold rose +1.80 to close at 1209.30 on moderate volume, while silver was flat on the day.  Gold sold off in Asia, but rallied back to positive by end of day in NY.  It was a relatively uneventful day, especially given the FOMC minutes release at 14:00 EDT which often causes turbulence in the markets but did not cause much of a fuss today.

  • davefairtex's picture
    May 20 2015 - 4:18am by davefairtex

    Gold was hit hard, falling -17.80 to 1207.50 on heavy volume; silver dropped as well losing -0.61 to 17.10 also on heavy volume.  Gold sold off twice, once at 08:30 EST after a surprisingly positive Housing Starts report, and once more at 10:20 EST.  Silver resisted the drop at 08:30, but fell hard at 10:20.

    On the day, gold was hammered back below the 200 MA, finding support at the 9 EMA.  Gold also marked a swing high.

  • davefairtex's picture
    May 19 2015 - 12:07am by davefairtex

    Gold rose +2.30 to 1225.30 on moderate volume, while silver climbed +0.18 to 17.71 on moderate volume too.  While gold ran into some difficulty due to a very strong dollar move, silver continued powering higher.  Gold in Euros rose +1.52%, which was a nice gain on the day, confirming that gold's problems are currency-related.

  • davefairtex's picture
    May 16 2015 - 4:02am by davefairtex

    On Friday, gold rose +2.10 to 1223.00 on moderately heavy volume, and silver climbed +0.06 to 17.52 on moderately heavy volume.  Gold and silver sold off during London trading, only to rally immediately prior to the NY open.  Gold ended the day just above its 200 MA.

    On the week, gold ended up +35.80 [+3.02%], silver rose +1.10 [+6.70%], GDX climbed +3.76% and GDXJ was up +5.62%.

  • davefairtex's picture
    May 15 2015 - 1:06am by davefairtex

    Gold rose +6.20 to 1220.90 on heavy volume, while silver climbed +0.35 to 17.47 on very heavy volume.  Today's rally looked like a continuation of yesterday's price action; silver especially powered higher as a result of steady buying.

  • davefairtex's picture
    May 14 2015 - 12:21am by davefairtex

    Gold jumped +22.20 to 1214.70 on extremely heavy volume, while silver powered up +0.61 to 17.12 on very heavy volume.  The big gold rally came at the time of the Retail Sales report release at 08:30 EDT; retail sales were unexpectedly soft, which caused the buck to tank, and that seemed to light a fire under gold.

  • davefairtex's picture
    May 13 2015 - 4:04am by davefairtex

    Gold rose +9.30 to 1192.50 on moderate volume, while silver climbed +0.21 to 16.51 on moderate volume.  PM was hit early in asia, rebounded, and broke out higher prior to the US open.  Both gold and silver remain within their recent trading ranges, but things are a looking a bit more positive after today.  Gold needs a close above 1200, and silver needs a close above 16.75 to suggest a break out higher.

    Both gold and silver managed to close back above their 9 EMA and 50 MA.  Silver continues to look stronger than gold.

  • Adam Taggart's picture
    May 12 2015 - 10:39pm by Adam Taggart

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  • davefairtex's picture
    May 12 2015 - 2:34am by davefairtex

    Gold fell -4.00 to 1183.20 on moderate volume, while silver dropped -0.12 to 16.30 on moderately light volume.  Gold dropped about $10 in about 30 minutes after 10:00 EDT - I didn't see an economic release that might have caused the selling, but silver sold off at that time as well.  Both metals rebounded somewhat, reducing losses by end of day.  Gold remains in its steady, slow downtrend.