Archive for February, 2014

Gold and silver rose to start the week, but weakened on Friday as the U.S. GDP number came in around the consensus of 2.4%. Platinum had a stellar week, outperforming the rest of the metals after Impala Platinum stated that strikes were going to continue. It would be better if platinum had a solid week based on a big bump ...

The precious metals recovered on Thursday and Friday from three initial weak days to close in positive territory for the week; silver led the charge finishing up over 1%. The 200-day moving average has worked well as a “catch play” near the $1,305-$1,310 level, while silver has spent several days consolidating in an upper flag patter near $22. Next week, $1,310/$1,290 and $20.50/$21.25 are support points for gold and silver, respectively. Gold ...

All precious metals were in the green this week and moved significantly higher. Gold ended the week at $1,318.60, up 4.4%. Friday was the highest close for gold since October 31, 2013. As we noted last week, a move above $1,280 would be the key to seeing gold move to the next level. The first catalyst for the gold price this week was when the China Gold Association released estimates for China’s ...

Gold and silver finished up 2% and 4.5% respectively this week, while platinum and palladium finished slightly higher. The U.S. dollar was very soft against other currencies all week, which added assistance to moving the precious metals higher. Gold has put in four short-term tops around $1262-$1265 on an hourly chart. This has created a small ascending triangle pattern and a follow through of this pattern leads to a measured move up ...