Commentary for Friday, Nov 8, 2024 (www.golddealer.com) – Today gold closed down $10.90 at $2687.50, and silver closed down $0.41 at $31.36. Today gold traded between $2680.00 and $2700.00 as investors continue to worry about Wednesday’s significant drop in prices. In my opinion that drop looks more like profit taking than uncertainty over the Trump presidency. But […]
Author Archives: Richard
Commentary for Friday, Nov 1, 2024 (www.golddealer.com) – Today gold closed up $0.30 at $2738.60, and silver closed down $0.11 at $32.54. An interesting week in the metals as price volatility was featured and people wonder if today’s almost unchanged close suggests that investors did buy Thursday’s weakness. The weak close is confusing but investors did “buy […]
Commentary for Friday, Oct 25, 2024 – Today gold closed up $6.00 at $2740.90, and silver closed down $0.01 at $33.60. This week’s somewhat erratic pricing in both gold and silver poses an interesting question to investors. Does this pattern suggest a tired bull? Or are you looking at a typical profit taking round which represents […]
Commentary for Friday, Oct 18, 2024 (www.golddealer.com) – Today gold closed up $22.70 at $2713.70, and silver closed up $1.46 at $33.03. Safe haven demand has pushed gold to record highs, which will increase bullish sentiment and ramp up buzz. But what I find fascinating about this latest move to the high ground is the increasing number […]
Commentary for Friday, Oct 11, 2024 – Today gold closed up $37.00 at $2657.60, and silver closed up $0.51 at $31.52. This was a relatively important week for the metals because traders tested support, recovered, and again moved higher, even as dollar strength remained steady. So, there is buzz out there to excite the bullish base […]
Commentary for Friday, Oct 4, 2024 (www.golddealer.com) – Today gold closed down $11.30 at $2645.80, and silver closed down $0.06 at $32.13. The price of gold this week traded between $2668.00 and $2631.00 suggesting that traders are getting used to these higher prices. The same thing is true for silver which traded between $31.08 and $32.34. While […]
Commentary for Friday, Sept 27, 2024 (www.golddealer.com) – Today gold closed up $2.45 at $2646.75, and silver closed up $0.02 at $31.54. Gold closed the week on a quiet note, which presents a small red flag because traders pushed prices higher 4 out of 5 days this week. Today’s defensive pricing is likely the result of lower […]
Commentary for Friday, Sept 20, 2024 (www.golddealer.com) – Today gold closed up $31.90 at $2619.90, and silver closed up $0.09 at $31.18. Both gold and silver surged Thursday and Friday as traders and momentum players jumped on the higher prices created by lower interest rates and a solid technical outlook. So, the theme this week might pose […]
Commentary for Friday, Sept 13, 2024 – Today gold closed up $30.10 at $2581.30, and silver closed up $0.96 at $30.70. Both gold and silver made new recent highs today as traders anticipate an aggressive interest rate cut at the upcoming FOMC meeting (September 17th and 18th). The notion of lower interest rates has been part […]
Commentary for Friday, Sept 6, 2024 (www.golddealer.com) – Today gold closed down $17.90 at $2493.50, and silver closed down $0.91 at $27.81. The bullish gold trade got a piece of good news from New York Fed President Williams this week: ‘It is now appropriate to dial down the degree of restrictiveness in the stance of policy’. And […]