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The precious metals had yet another tough week as positive economic news out of the U.S. combined with the U.S. Fed tapering $10 billion from its $85 billion QE program to push gold and silver towards lows of the year. While this has been a tough year for precious metals enthusiasts, investors must remember that precious metals are an investment, not a trade, and that the long-term fundamentals for precious metals and ...

It was a seesaw week for the precious metals. Gold finished the week off on a positive note closing up $9.70 to settle at $1,234. Next week will be another volatile one as the Federal Reserve interest rate and tapering decisions will be on the forefront of traders’ screens. Platinum and palladium exhibited relative weakness this week; however, palladium is the only precious metal that is close to positive on the year.

Gold support ...

It was a volatile week that ended on a negative note for the precious metals and finished the week down 1.7%. US Nonfarm Payroll data came in slightly higher than expected, which put further downside pressure on the metals; they did find support around Wednesday’s low. Trading volume will likely begin to slow down coming into the holiday season, which actually creates more volatility in the markets because there are less participants ...

After pressing below the $1230 level, gold closed the week on a positive note finishing up at $1250. Platinum markets went opposite the gold and silver markets this week, moving down below $1380 and finishing the week down near $1360. A retest of the July low at $1300 looks quite likely in the near term. Overall, it was a weak month for gold and silver as USD strength in combination with the ...

Gold had a tough week after a $30 down day on Wednesday on potential tapering headlines. From a technical perspective, the charts for the precious metals do not look great. A small rebound off $1260 was no match for the sell side and it seems like we will be seeing $1200 gold in the coming weeks. It is important for readers to remember there are two kinds of trades in gold: the ...

It was another yo-yo week for the precious metals as they were hit hard Monday through Wednesday on further technical selling. The breakdown from our $1310 area triggered stops and pushed gold below $1280 and made a spike low of $1260. Yellenomics fortunately came in to save the day as Janet Yellen (the next Fed Chair) said in a testimony that she is in no hurry to stop spending programs anytime soon. ...

Another wild week for the precious metals as headlines across the globe and technical selling hurt the charts. The main driver for initiating the selling in precious metals came from the ECB interest rate announcement, when the ECB unexpectedly cut rates. This caused the US dollar to appreciate and the inverse relationship that we haven’t seen a lot of lately took over and propelled gold lower. Technical selling below the $1310 level ...