precious metals

discussion
davefairtex
By davefairtex on Fri, Sep 21, 2018 - 9:41am

PM Daily Market Commentary - 9/20/2018

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.

discussion
davefairtex
By davefairtex on Thu, Sep 20, 2018 - 6:39am

PM Daily Market Commentary - 9/19/2018

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.

discussion
davefairtex
By davefairtex on Wed, Sep 19, 2018 - 10:29am

PM Daily Market Commentary - 9/17/2018

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.

discussion
davefairtex
By davefairtex on Tue, Sep 18, 2018 - 6:07am

PM Daily Market Commentary - 9/17/2018

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.

discussion
davefairtex
By davefairtex on Sat, Sep 15, 2018 - 7:29am

PM End of Week Market Commentary - 9/14/2018

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.

discussion
davefairtex
By davefairtex on Fri, Sep 14, 2018 - 10:19am

PM Daily Market Commentary - 9/13/2018

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.

discussion
davefairtex
By davefairtex on Thu, Sep 13, 2018 - 3:36am

PM Daily Market Commentary - 9/12/2018

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.

discussion
davefairtex
By davefairtex on Wed, Sep 12, 2018 - 8:17am

PM Daily Market Commentary - 9/11/2018

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.

discussion
davefairtex
By davefairtex on Tue, Sep 11, 2018 - 4:02am

PM Daily Market Commentary - 9/10/2018

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.

discussion
davefairtex
By davefairtex on Sun, Sep 9, 2018 - 1:03am

PM End of Week Market Commentary - 9/7/2018

On Friday, gold fell -3.59 [-0.30%] to 1203.57 on heavy volume, while silver rose +0.04 [+0.25%] to 14.21 on moderately heavy volume. The buck climbed +0.36%, a fairly strong move; the metals did fairly well in the face of the strong move by the buck.