Gold & Silver - Discussions

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  • davefairtex's picture
    Jul 24 2014 - 4:11am by davefairtex

    Gold closed down -3.40 to 1304.70 on light volume, and silver was down -0.06 to 20.95 also on light volume.  Volume and trading ranges for both metals are shrinking every day, which is a trading pattern known as a volatility squeeze.  It sounds unpleasant, but it really just reflects trader uncertainty as to market direction.  This pattern often ends in a big move - in either direction.

  • davefairtex's picture
    Jul 23 2014 - 5:08am by davefairtex

    Gold closed down -4.60 to 1308.10 on moderate volume while silver was up +0.05 to 21.01 also on moderate volume.  There was some volatility in both gold and silver around the time of the US CPI report release at 0830 EDT (no change reported) which seemed to have a more positive effect on silver than gold.

  • davefairtex's picture
    Jul 22 2014 - 1:57am by davefairtex

    Gold closed up +1.30 to 1312.70 on light volume and silver was up +0.03 to 20.97 also on light volume.  Gold traded within a relatively narrow trading range and volume was low.  An attempt to rally failed for both gold and silver, giving me a slightly bearish feeling for today's price action.

  • davefairtex's picture
    Jul 19 2014 - 6:22am by davefairtex

    On Friday gold closed down -7.30 to 1311.40 on moderate volume, while silver was down -0.26 to 20.93 on relatively light volume.  Silver lost most of its gains from Thursday's rally, while gold did a bit better.

  • davefairtex's picture
    Jul 18 2014 - 6:08am by davefairtex

    Gold continued moving higher today, rising +18.50 to 1318.70 on heavy volume.  Silver was up +0.36 to 21.19 on moderately heavy volume.  The rally in gold started around 1115 EDT - there was no massive spike, just a series of breakouts higher.  Was this about the civilian airliner shootdown, the Israeli invasion of Gaza, or something else?  I don't know.  It certainly felt like a news event, rather than an economic report.

  • davefairtex's picture
    Jul 16 2014 - 8:43pm by davefairtex

    Gold rebounded today, rising +6.20 to 1300.20 on moderate volume; silver was up +0.09 to 20.83 on moderately light volume.  Gold rose slowly throughout the trading day, at one point hitting a high of 1305 but could not hold its gains.  The light volume rally off gold's 50 MA is not particularly convincing to me, I was hoping for something more definitive.

  • davefairtex's picture
    Jul 16 2014 - 3:36am by davefairtex

    Gold was down again today, dropping -13.80 to 1294.00 on heavy volume, while silver was down -0.22 to 20.74 on moderately heavy volume.  After yesterday's big down day, gold rallied modestly in Asia and London, only to be sold hard in NY trading; at 10:55 EDT sellers managed to push prices below yesterday's low, which triggered a burst of selling driving gold to 1292.

  • davefairtex's picture
    Jul 15 2014 - 3:35am by davefairtex

    Gold was down hard today, losing -32.20 to 1307.80 on very heavy volume; silver was hit for -0.54 to 20.96 on moderately heavy volume.  Gold started selling off a couple of hours into trading in Asia, carried through to London, culminating in a 8,000-contract spike lower at 0900 EDT in NY, whereupon it traded sideways for the rest of the day.  Silver followed, but was not hit nearly as hard.

  • davefairtex's picture
    Jul 12 2014 - 8:26am by davefairtex

    On Friday gold closed up +3.70 to 1340.00 on light volume, while silver was up +0.03 also on light volume.  While trading was subdued in a tight range for both metals, the bias was to the upside, and gold especially closed at its high for the day.  It was a reassuring close to an interesting week.

  • Jim H's picture
    Jul 11 2014 - 11:00pm by Jim H

    Interesting article pointing out a fairly ridiculous (16%) premium for physical Palladium in Shanghai vs. Comex price;

    http://www.safehaven.com/article/34487/palladium-price-premia

    This interview with Jay Taylor discusses price premia of $130 per oz. of palladium and $80 per oz. of platinum in Shanghai vs. the London/NY markets.

    We also discuss how the paper metals markets can fail as real metal markets like Shanghai develop.