Commentary for Monday, April 21, 2014 – Gold closed down $5.40 at $1288.00 in what looks like thin follow-through selling and some technical filling but, like the close on Thursday before Easter I would discount this action because some markets are still closed because of Easter. At any rate we…
Commentary for Friday, April 18, 2014 – Both financial and gold markets are closed today in observance of Good Friday. GoldDealer.com as well as the banks and post office are open and we expect very slow trading conditions at the store which is usually the case over this religious event.…
Commentary for Thursday, April 16, 2014 (www.golddealer.com) – Gold closed down $9.70 in follow through selling at $1293.40. Actually trading was quiet most of the day trading around the familiar $1300.00 level but a late bear market raid pushed prices below gold’s 200 day moving average ($1298.00). I would not…
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Commentary for Wednesday, April 16, 2014 – Gold closed today up $3.10 at $1303.10 in a modest rebound from yesterday’s loss of $27.20. The overnight Hong Kong and London market for gold remains stable around $1300.00. There was also some follow through buying which appeared from $1290.00 lows so some short-term…
Commentary for Tuesday, April 15, 2014 (www.golddealer.com) – Gold closed down $27.20 today at $1300.00 reacting to early selling which began overnight in Hong Kong and continued lower in London finally bouncing off the $1290.00 level and rising domestically to finish just above the important $1300.00 level for the day.…
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Commentary for Monday, April 14, 2014– Gold closed up $8.50 at $1327.70 after two weeks of modestly higher prices as tension escalates between Russia and Ukraine. Pro-Russian forces have captured government buildings in Ukraine and calls from Ukraine asking for evacuation have been ignored. So with Russian troops still on…
Commentary for Friday, April 11, 2014 – Gold closed down $1.40 today ending the week at $1318.70 in subdued trading. And the overnight trading range was rather flat so this market still looks defensive. As the European Central Bank has mostly talked the US has mostly inflated so this has…
Commentary for Thursday, April 10, 2014 – Gold closed higher today up $14.60 at $1320.10 so we are a bit more comfortable above the $1300.00 support level. But I would not consider this anything to write home about because there is a mountain of overhead resistance between where we are…