Archive for 'Weekly Trends'

Weekly Trends: April 12, 2014

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It was another relatively quiet week for the gold, which closed at $1,318.40 per ounce from last week’s close at $1,303.50. It’s interesting to see gold close near a three-week high while the U.S. dollar index is near a three-week low. Gold traders always need to pay attention to the U.S. dollar, as historically, gold tends to trade inversely to the ...

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Weekly Trends: April 5, 2014

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Gold finished the week at $1,303.50, up $9.70 from last week’s close at $1,293.80. It was a relatively quiet week as traders awaited the U.S. jobs data on Friday. Non-farm payrolls came in at 192,000 new jobs last month, which was below the expected 200,000. The unemployment rate was unchanged at 6.7%. The lower than expected data gave gold a positive ...

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Weekly Trends: March 29, 2014

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It was a fairly quiet week for precious metals. After closing at $1,336 last Friday, gold finished this week down 3.2% and closed at $1,293.80. Silver closed at $19.79, down 2.6% on the week. Gold exchange-traded products continue to experience net inflows with 9.6 metric tons added so far in March. Physical demand is expected to be strong on any further drop ...

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Weekly Trends: March 22, 2014

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This week the metals suffered a case of buy the rumour, sell the news as the metals wavered in the face of the Crimea vote and the U.S. federal reserve tapering decision. Several new palladium ETFs launched on Friday, giving the metal a nice push up to $800 per ounce. Palladium has been quite range bounce for over a year, fluctuating ...

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Weekly Trends: March 15, 2014

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The precious metals got a nice lift this week as all the metals pushed to new 2014 highs. After basing in the mid $1,300s, gold pushed hard this week climbing above $1,385 and closing at $1,378. Impressively, the GLD has had several weeks of positive flow, meaning more money is entering the fund then exiting. This corresponds nicely to the move ...

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Weekly Trends: March 8, 2014

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The precious metals had a seesaw week as gold, platinum, and palladium pushed higher on Russia-Ukraine tensions and worker strikes in South Africa. Gold tried several times to break through the $1350-$1355 zone, but failed after U.S. employment numbers came in better than expected. Platinum and Palladium pushed higher throughout the week on speculation of lost metal production due to the ...

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Weekly Trends: March 1, 2014

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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 in ...

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Weekly Trends: February 22, 2014

Commodity Talk

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 has room ...

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Weekly Trends: February 15, 2014

Commodity Talk

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 consumption ...

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Weekly Trends: February 8, 2014

Commodity Talk

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 to $1280. ...

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