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 Replies: 2,953 / Views: 97,986 |
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Pillar of the Community
United States
1178 Posts |
I believe Gold closed above $4100 yesterday and there was unusually heavy volume of around 178k contracts traded in the Z contract for December. Normal daily volume is usually way below 50k contracts per day. And 128k contracts traded today, so far. Let's see if Gold can get above yesterday's high, that would be considered a break out.  |
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Pillar of the Community
United States
1178 Posts |
I got $59.30 APMEX is showing $59.80 Kitco and COMEX have are varying as well |
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Pillar of the Community
United States
1178 Posts |
Welp $60.00 on APMEX now and I'm seeing a bit of a end of day squeeze up in the future's. |
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Moderator
 United States
191795 Posts |
We are safely in the ~$59 zone with some overlapping in the ~$60.  Markets ended being up rather nice today.  |
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Pillar of the Community
United States
1178 Posts |
A strong finish for Silver, creeping up all the way into the close. It's close enough to call it $60 in my book considering all the different Bid / Ask spreads we see.
Although when trading the futures market that spread is only 1 or 2 cents, maybe 3.
Gold futures closed the regular trading session at $4168 and that's about $40 an ounce above yesterday's close of $4126.
That confirmation is the signal trader's were waiting for to go long Gold. So watch Gold.
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Moderator
United States
191795 Posts |
One more day before a weekend. How will the week finish? |
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Pillar of the Community
United States
1178 Posts |
The US Dollar caught a bit of a bounce overnight after falling hard over the past 2 days since the Warsh FOMC meeting.
Though the Dollar lost a month of gain's in the past couple of day's, taking it back to June 20 level's, it's still elevated enough to cause some head winds for metals, as we're seeing this morning.
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Moderator
United States
191795 Posts |
Yes, the night crew took it the wrong way. Now I know why. |
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Pillar of the Community
United States
6708 Posts |
Will silver hit $40? |
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Pillar of the Community
United States
1178 Posts |
Quote:
One more day before a weekend. How will the week finish? Looks like we're ending the week on a down note. All major indexes just turned Red. Treasury yields rising, Dollar rising, of course Oil rising. One minute it's peace talks, next minute it's war talks, typical Friday.  |
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Moderator
United States
191795 Posts |
Yup. I saw that and had the same feeling. Oh, what a time to be alive.  Remember, remember the third of November... with apologies to the Guy Fawkes Day celebrants on the fifth.  |
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Pillar of the Community
United States
1178 Posts |
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Yup. I saw that and had the same feeling. Oh, what a time to be alive. Yup, you could say that again. Just gotta let today play out and start fresh Monday. If you look at the Dollar vs Metals today you'll see the dance they're doing. Dollar spikes, Metal retreats. Dollar retreats, Metal spikes. Let the Dollar have it's day of tormenting the Metals today, like a good little Troll. At the end of the day we'll see that nothing has really changed much today, just as in the past 2 months. The way I see it is it's just another day with Silver still not at $50 (300 days to be exact) and same for Gold still above 4K. Looking forward at September the odds of a rate hike are slightly higher about 60% but it didn't sound like Warsh was in any hurry to raise them. Instead letting the market and the economy do the job for them. Higher rates are the Boogeyman right now. Industrial demand for Silver hasn't gone away. If anything it's increased with the tremendous AI build out. All those chips, memory RAM and other infrastructure require precious metals. |
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Moderator
United States
191795 Posts |
Quote:
The way I see it is it's just another day with Silver still not at $50 (300 days to be exact) and same for Gold still above 4K. Quote:
All those chips, memory RAM and other infrastructure require precious metals.  Right now, markets are back to green. Silver chopping sideways instead of sloping down. How will the day finish? |
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Replies: 2,953 / Views: 97,986 |
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Posted Yesterday 3:14 pm
