Precious Metals

January 08 2013 7:59 PM

Gold futures snapped their three-session losing streak on Tuesday amid strong gains in several precious metals. COMEX gold for February delivery settled higher by $15.90, or 1.0%, at $1,662.20 per ounce, just a fraction below its intra-day high. Silver futures for March delivery at the COMEX ended up by $0.38, or 1.3%, at $30.47 per ounce.

January 04 2013 4:53 PM

Most of the demand for silver fabrication next year will come from industrial customers.

January 03 2013 8:09 PM

On Thursday, gold (NYSEARCA:GLD) futures for February delivery, the most active contract, fell $14.20 to settle at $1,674.60 per ounce, while silver (NYSEARCA:SLV) futures for March dropped 29 cents higher to close at $30.72.

January 03 2013 10:10 AM

Gold edged up today and hit its highest range in two weeks in the prior trading session on the heels of the deal forged that avoided the U.S. fiscal cliff disaster. The far more substantial risk from the pending budget negotiations remains as does the appalling US national debt and unfunded liability situation – both of which offer long term support to gold and silver.

December 26 2012 5:30 PM

A December sell-off in silver has left the precious metal at a key technical crossroads as the new year approaches. Prices are hovering just over $30.00 and this could be a great buying opportunity, but silver has traded through this level a number of times in the past couple of years, so there remains considerable uncertainty in the commodity.

December 20 2012 10:09 AM

Global investment through silver backed exchange traded products reached a record 18,854 metric tons in November, or more than nine months of mine output, data compiled by Bloomberg show. Holdings are now valued at about $19.2 billion.

December 14 2012 3:52 AM

Gold and silver futures remained firmly in negative territory on Thursday afternoon amid strength in the U.S. dollar and a broad-based sell-off in the commodities complex. COMEX gold for February delivery – the most actively-traded contract – finished lower by $21.10, or 1.2%, at $1,696.80 per ounce. The yellow metal reached an intra-day low of $1,690.70 this morning before recouping a small portion of its decline.

December 05 2012 10:00 AM

Channel Breakdown: Silver was seen last rallying in a rising channel. After barely making a new high, silver fell back and this time broke down below the rising channel seen in the 4H chart. This breakdown also pushed the RSI below the 40 level in the 4H chart. This reflects a loss of the bullish momentum made in the November rally. In fact if the RSI pushes below 30, there is bearish momentum being born.

December 03 2012 1:11 PM

Both precious metals declined, as the U.S. dollar reached its highest level against the Japanese yen since April. Japan’s cabinet approved an economic stimulus plan before elections take place in December. Polls indicate that an opposition party, which is calling for unlimited monetary easing, will win the political race, according to Bloomberg.