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Commentary for Thursday Feb 4, 2016 (www.golddealer.com) – Gold closed up $11.00 at $1155.30 on the Comex today in what appears to be a momentum push to higher ground supported by a weaker dollar. The Dollar Index closed yesterday at 97.30 and traded between 96.26 and 97.47 today – we…
Commentary for Wednesday, Feb 3, 2016 (www.golddealer.com) – Gold closed up $17.30 on the Comex today at $1144.60. A big move which came later in the trading session after gold had traded in the $1130.00 range for half the trading day. Gold continues to catch a good bid – for…
Commentary for Tuesday, Feb 2, 2016 (www.golddealer.com) – Gold closed down $0.10 at $1127.30. An interesting trading day even though the close was lackluster – gold did pitch higher and at one time threatened the $1131.00 level – twice – lows of the day were $1123.00. So we are experiencing…
Commentary for Monday, Feb 1, 2016 (www.golddealer.com) – Gold closed up $10.60 at $1127.40 on the Comex today. The overnight Hong Kong and London markets were quiet but the domestic trade firmed. Still this is the highest close of 2016 so the “New Year Surprise” (the fact that gold had…
Commentary for Friday, Jan 29, 2016 (www.golddealer.com) – Gold closed up $1.20 at $1116.80 in another round of ho-hum trading but it did end the week up $19.00. Which is not much considering the FOMC stood-pat on interest rates and released information that suggests they are “watching the numbers” when…
Commentary for Thursday, Jan 28, 2016 (www.golddealer.com) – Gold closed down $1.20 on the Comex today at $1114.90. So gold is hanging “around” so to speak but a lower closed today is not good considering the aftermarket yesterday was up as much as $8.00 after the FOMC appeared dovish in…
Commentary for Wednesday, Jan 27, 2016 (www.golddealer.com) – Gold closed down $5.60 on the Comex today at $1116.10. Keep in mind this close was before the FOMC announcement since that time gold has shown an $8.00 aftermarket – which means the electronic paper market saw the FOMC information release as…
commentary for Tuesday, Jan 26, 2016 (www.golddealer.com) – Gold closed up $15.50 on the Comex today at $1121.70. This will be described as a combination of safe-haven buying and technical follow through – but there is something that is just not right with this latest push. Granted gold continues firm…
Commentary for Monday, Jan 25, 2016 (www.golddealer.com) – Gold closed up $9.00 on the Comex today at $1106.20 – which is good but without some follow-through momentum this pitch up remains part of the defensive picture. Normally – as the technical picture improves this place develops a great buzz –…