Gold & Silver - Discussions

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  • davefairtex's picture
    Sep 23 2018 - 4:00am by davefairtex

    On Friday, gold fell -8.64 [-0.71%] to 1205.94 on heavy volume, while silver dropped -0.04 [-0.31%] to 14.31 on very heavy volume. Both metals made new highs, but then were hit fairly hard. The buck did rally +0.32%, which didn't help.

  • davefairtex's picture
    Sep 21 2018 - 9:41am by davefairtex

    Gold moved up +3.56 [+0.29%] to 1214.58 on moderate volume, while silver rose +0.08 [+0.56%] to 14.36 on heavy volume. The buck plunged -0.67%, a big move down, which didn't help gold and silver as much as I would have expected, but the other metals did very well.

  • davefairtex's picture
    Sep 20 2018 - 6:39am by davefairtex

    Gold climbed +5.67 [+0.47%] to 1211.02 on moderate volume, and silver rose +0.10 [+0.67%] to 14.28 on heavy volume. The buck moved down just -0.12%; the cause for the metals rally seemed less about currency and more about the move in the other metals. Platinum was up 1.28%, while palladium jumped +2.41%. “Tariffs weren't as bad as we feared”, is the sense I have.

  • davefairtex's picture
    Sep 19 2018 - 10:29am by davefairtex

    Gold fell -2.94 [-0.24%] to 1205.35 on moderate volume, while silver edged down -0.04 [-0.25%] to 14.18 on moderately heavy volume. The buck fell -0.27%, but the drop in the dollar didn't seem to help the metals at all.

    Not all that much happened with gold today. The short black candle was unrated, while forecaster moved up +0.12 to -0.06. Gold is still trying to put in a low. The drop today took gold out of its weekly buy signal; gold is in a downtrend in all 3 timeframes.

    COMEX GC open interest fell -889 contracts.

  • davefairtex's picture
    Sep 18 2018 - 6:07am by davefairtex

    Gold rose +7.68 [+0.64%] TO 1208.29 on moderate volume, while silver climbed +0.13 [+0.96%] to 14.21 on moderately light volume. The buck plunged -0.46%, a strong move down, and that seemed to aid the metals today.

  • davefairtex's picture
    Sep 15 2018 - 7:29am by davefairtex

    On Friday, gold fell -7.78 [-0.64%] to 1200.61 on heavy volume, while silver dropped -0.12 [-0.85%] to 14.08 on moderate volume. The buck was up sharply: +0.43%, which took a toll on the metals today. Both copper (-1.99%) and platinum (-1.03%) both did worse than gold and silver.

  • davefairtex's picture
    Sep 14 2018 - 10:19am by davefairtex

    Gold fell -5.34 [-0.44%] to 1208.39 on heavy volume, while silver fell -0.09 [-0.60%] to 14.20 on heavy volume also. The buck moved down -0.24%, but it did not seem to help the metals at all today.

    While the ECB had a meeting – at which nothing happened - it was the CPI release that seemed to spike the metals higher today, at least for a time anyway. Government-reported inflation was 0.2% m/m, and 2.7% y/y, which is less than everyone expected.

  • davefairtex's picture
    Sep 13 2018 - 3:36am by davefairtex

    Gold rose +7.83 [+0.65%] to 1213.73 on heavy volume, while silver jumped +0.12 [+0.81%] to 14.29 on heavy volume also. The buck declined -0.50%, but the currency move was not the proximate cause of the metals rally. The trigger appeared to be a US invitation to China to restart trade talks; Mnuchin invited his counterpart from China, Liu He, for negotiations in “the coming weeks.” China has yet to accept the offer.

    The release of the news regarding the invitation to negotiate resulted in a spike higher in gold, silver, platinum, and copper.

  • davefairtex's picture
    Sep 12 2018 - 8:17am by davefairtex

    Gold rose +2.97 [+0.25%] to 1205.90 on heavy volume, while silver fell -004 [-0.28%] to 14.17 on heavy volume also. The buck rose +0.11%, which was a fairly minor move. Silver actually made a new multi-year low today but managed to bounce back. Good news or bad news? We'll find out later.

  • davefairtex's picture
    Sep 11 2018 - 4:02am by davefairtex

    Gold fell -0.64 [-0.05%] to 1202.93 on moderate volume, while silver was unchanged at 14.21 on light volume. The buck fell -0.24%, which tells us that gold and silver were fairly weak today.

    Gold traded in a narrow range, printing a doji candle which might mark a low (36% chance); forecaster agreed somewhat, rising +0.05 to +0.08. That's a slight uptrend on the daily chart.  Gold remains in a downtrend in the weekly and monthly timeframe. There was no material change today.

    COMEX GC open interest rose 4,144 contracts.