precious metals

discussion
davefairtex
By davefairtex on Tue, Feb 9, 2016 - 1:54am

PM Daily Market Commentary - 2/8/2016

Gold rose +15.50 to 1189.60 on extremely heavy volume, while silver climbed +0.30 to 15.32 on very heavy volume.  Gold is now moving in opposition to equities; as SPX sold off today, gold climbed higher.  A failed rally in the buck didn't hurt either.

discussion
davefairtex
By davefairtex on Sat, Feb 6, 2016 - 6:08am

PM End of Week Market Commentary - 2/5/2016

On Friday, gold rose +18.10 to 1174.10 on very heavy volume, and silver was up +0.16 to 15.03 on heavy volume.  Market-moving event today was the Nonfarm Payrolls report, which had a weak headline number but a big rise in average hourly earnings.  Gold initially sold off, then rallied hard into the close.  It appeared that nobody wanted to be short gold going into the weekend.  Since the dollar rallied strongly too, gold's big move higher on Friday was especially impressive.  Silver followed gold, but was substantially less enthusiastic, as has been the case now

discussion
davefairtex
By davefairtex on Fri, Feb 5, 2016 - 2:42am

PM Daily Market Commentary - 2/4/2016

Gold rose +13.00 to 1156.00 on very heavy volume, while silver climbed +0.18 to 14.87 on heavy volume.  Once again, today's gold story was mostly about currency: the buck lost another -0.81 [-0.84%], adding to yesterdays large move down.  Gold priced in Euros has just been chopping sideways.

discussion
davefairtex
By davefairtex on Thu, Feb 4, 2016 - 2:23am

PM Daily Market Commentary - 2/3/2016

Gold rose +13.40 to 1143.00 on very heavy volume, while silver shot up +0.38 to 14.69 on very heavy volume as well.  However, the move today was all about currency: today, the buck lost -1.56 [-1.58%], a massive one-day drop that threw the dollar into a clear downtrend.  This caused serious chaos in the market, with money fleeing first one way, then another.

discussion
davefairtex
By davefairtex on Wed, Feb 3, 2016 - 1:00am

PM Daily Market Commentary - 2/2/2016

Gold rose +1.00 to 1129.60 on moderate volume, while silver fell -0.04 to 14.31 on moderate volume also.  Gold traded sideways within a range, as did silver.  Both metals seemed relatively immune to the second day of plunging oil prices.

discussion
davefairtex
By davefairtex on Tue, Feb 2, 2016 - 2:46am

PM Daily Market Commentary - 2/1/2016

Gold rose +10.20 to 1128.60 on moderate volume, while silver climbed only +0.09 to 14.35 on moderate volume also.  Gold rose steadily all day long, while silver followed the same track but less enthusiastically.  Oil was absolutely hammered today, and that likely didn't help silver; the dollar fell, which supported gold.  There were lots of cross currents to sort through.

discussion
davefairtex
By davefairtex on Sat, Jan 30, 2016 - 5:08am

PM End of Week Market Commentary - 1/29/2016

On Friday, gold rose +2.80 to 1118.40 on moderate volume, and silver was up +0.02 to 14.26 on moderately light volume.  Today was all about the BOJ's decision to charge banks money for excess reserves - a negative rate policy.  Pretty much everything rallied as a result.

discussion
davefairtex
By davefairtex on Fri, Jan 29, 2016 - 3:40am

PM Daily Market Commentary - 1/28/2016

Gold fell -9.30 to 1115.60 on heavy volume, while silver plunged -0.26 to 14.24 on moderately heavy volume.  There was some funny business with the silver fix in London; this ended up smashing silver down hard at around 07:15 Eastern, and that event put a damper on PM for the remainder of the day.

discussion
davefairtex
By davefairtex on Thu, Jan 28, 2016 - 7:30am

PM Daily Market Commentary - 1/27/2016

Gold rose +5.00 to 1124.90 on heavy volume, while silver fell -0.02 to 14.50 on moderate volume.  The FOMC announcement at 14:00 Eastern was the primary driver of prices today; it was after FOMC that gold had its rally.

discussion
davefairtex
By davefairtex on Wed, Jan 27, 2016 - 1:58am

PM Daily Market Commentary - 1/26/2016

Gold rose +11.80 to 1119.90 on very heavy volume, while silver climbed +0.28 to 14.52 on heavy volume.  Cash came out of hiding today - pretty much everything was bid today pre-FOMC, and gold and silver were no exceptions.  A falling dollar also helped.