Gold & Silver - Discussions

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  • davefairtex's picture
    Dec 7 2016 - 3:58am by davefairtex

    Gold fell -0.70 to 1171.40 on light volume, while silver dropped -0.03 to 16.78 on moderately light volume. The dollar rebounded from its big loss yesterday; this acted as a bit of a drag on PM, which more or less just traded sideways in a narrow range.

    Gold's candle print was a spinning top, but one of the useless ones, providing us no information as to where we go next. I should have a candle pattern entitled “useless spinning top.”  Gold remains below the 9 EMA.

    Rate rise chances fell to 93%.

  • davefairtex's picture
    Dec 6 2016 - 4:12am by davefairtex

    Gold fell -7.10 to 1172.10 on moderate volume, while silver rose +0.01 to 16.81 on moderate volume also. There were some large price movements on the first day of trading following the “NO” vote on PM Renzi's referendum, as markets adjusted to the outcome. Gold, unfortunately, was not one of the winners.

  • davefairtex's picture
    Dec 3 2016 - 6:03am by davefairtex

    On Friday gold rose +5.60 to 1179.20 on moderately light volume, and silver rose +0.23 to 16.80 on moderate volume.  The Nonfarm Payrolls report was slightly above expectations, but the buck decided to fall rather than rally on the news - the NFP release approximately marked the low point for PM for the day, and soon after the release both gold and silver started moving higher, closing at or near the highs.  Traders being willing to take both gold and silver home for the weekend was a distinctly positive sign.

  • davefairtex's picture
    Dec 2 2016 - 4:19am by davefairtex

    Gold fell -1.20 to 1173.60 on moderate volume, while silver rose +0.01 to 16.57 on moderate volume also. A sharp drop in the dollar was not enough to convince gold to rally; all it could do was pull gold back to even after a "manipulation down-spike" early in the Asia session forced gold down to a new low of 1162.20.

  • davefairtex's picture
    Dec 1 2016 - 4:31am by davefairtex

    Gold fell -15.20 to 1174.80 on moderate volume, while silver dropped -0.12 to 16.56 on moderate volume also. A very strong dollar rally (at one point the buck was up almost a full point) caused gold to break down and make new lows; silver seemed better able to resist the pull lower, but it too was dragged down by the currency move.

  • davefairtex's picture
    Nov 30 2016 - 2:36am by davefairtex

    Gold fell -6.40 to 1190.00 on moderate volume, while silver was unchanged at 16.68 on moderately heavy volume. Even though the buck ended up dropping fairly substantially, gold still ended up in negative territory. That's not a great sign.

  • davefairtex's picture
    Nov 29 2016 - 7:38am by davefairtex

    Gold rose +10.30 to 1196.40 on heavy volume, while silver rose +0.09 to 16.67 on very heavy volume. The buck sold off hard in Asia right after the open, and this sharp drop caused a relatively strong PM rally; however once the buck rebounded, silver faded, while gold managed to hold onto most of its gains into the close.

  • davefairtex's picture
    Nov 26 2016 - 5:05am by davefairtex

    On Friday gold fell -4.20 to 1186.10 on heavy volume, and silver rose +0.15 to 16.59 on very heavy volume. Gold and silver both sold off early in Asia making new lows, and then managed to recover somewhat – with silver doing substantially better than gold.

  • davefairtex's picture
    Nov 24 2016 - 5:14am by davefairtex

    Gold fell -21.70 to 1190.30 on very heavy volume, while silver dropped -0.30 to 16.43 on heavy volume.   A strong dollar rally through the previous high of 101.54 was the probable proximate cause of gold’s tumble today; the buck ended up +0.64 to 101.66, but hit a multi-decade high of 101.86 intraday.

  • davefairtex's picture
    Nov 23 2016 - 5:53am by davefairtex

    Gold fell -2.00 to 1212.00 on moderate volume, while silver rose +0.05 to 16.73 on moderately heavy volume.  Intraday price movements still seemed to be about the buck; an early gold rally to 1220 was cut short on a dollar rebound, while a subsequent drop in gold to 1205 rebounded after the buck topped out at 101.40.