Commentary for Wed, June 4, 2014 – Gold closed down $0.30 today at $1244.00 so trading remains extremely quiet as lack of fresh news is putting traders to sleep. Tomorrow we will see what the European Central Bank has on its mind but because this subject has been talked to…
Commentary for Tuesday, June 3, 2014 – Gold closed up $0.60 today at $1244.30 and the trading range was a tight $4.00 – a virtual carbon copy of yesterday’s action. You could say the market is waiting on the European Central Bank meeting this Thursday but I think any possible…
Commentary for Monday, June 2, 2014 – Gold closed down $1.90 at $1243.70 in subdued trading which was only slightly weaker in the overnight Hong Kong market and recovered in London and the domestic finish. Still down is down and this makes for the 6th day in a row gold…
For precious metal investors, palladium coins like the Canadian Palladium maple Leaf has traditionally taken a backseat to interest in gold and silver, but that is changing. In recent years, the value of palladium has exploded. It has outpaced the growth of all other precious metals, but what is spurring…
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Commentary for Friday, May 30, 2014 – Gold closed down $10.70 at $1245.60 so we continue lower and have lost $46.00 on the week. Troops have been removed from Ukraine and the expectation that the European Bank will go negative with interest rates next week (pushing the dollar higher on…
Commentary for Thursday, May 29, 2014 (www.golddealer.com) – Gold closed down $3.00 at $1256.30 so this market remains defensive. There were a few sputters along the way as gold saw lows of $1251.00 and a small rally to above $1260.00 but for the most part the bears are still in…
Commentary for Wednesday, May 28, 2014 (www.golddealer.com) – Gold closed down $6.10 at $1259.30 in a technical follow through firmly putting the bears in charge. Better than expected economic news in America helped and a quieter Russia/Ukraine also helped the bears. Still with gold these days it is not a…
Commentary for Tuesday, May 27, 2014 (www.golddealer.com) – Gold closed down $26.20 at $1265.40 so the coiling theory about gold panned out only the action was to the downside. This close after some insurance bets going into the long weekend is a 3 month low and in the bargain gold…
Commentary for Friday, May 23, 2014 (www.golddealer.com) – Gold closed down $3.30 at $1291.60 in another session of “who left the trading floor early”? On the week gold was down $1.70 and for what it’s worth everyone seems more worried about meat prices than gold prices. The bigger positive picture…