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From the Trading Desk The overnight session was painfully quiet.  Volume on the electronic exchange was dismal with participants on the sidelines due to the Chinese holiday and anxiety over FOMC Chair Yellen’s congressional testimony on the US economy today.  The precious metals slid quietly lower overnight in the absence of physical demand.  The easing of Greek debt funding concerns …

Gold gapped down this morning and broke below the $1,200 mark down to $1,190.70 before bouncing higher to $1,209.90 and closing at $1202 in a whipsaw day. I would use a break of $1,200 to trade gold short and a break of $10 to trade gold long. JDST triggered a weekly green arrow today at 9.85 and closed at 9.75. …

The headlines are all negative for gold of late. Whether it’s the $4 billion erased from funds or the Greece deal optimism, gold has opened down in Asia at $1,201 at present, but still holding above the $1,200 round number resistance. On Friday, gold was down and JDST was up 4.88% closing at 9.63, near it’s high. Look for $10 …

From the Trading Desk The precious metals were looking weak for the majority of the trading session yesterday and then the FOMC minutes prompted a reversal of course.  The Federal Open Market Committee January minutes implied that a majority of members are still of the mindset to keep rates unchanged for longer than expected.  The committee considered such factors as …

What a difference a day makes in a sharp turnaround for gold and silver. What was the reason? The Fed minutes came out. Anytime we have Fed meetings and the release of Fed minutes, we always have volatility. Gold opened lower then the release of the Fed minutes came out and gold shot up as seen in the chart below, …

From the Trading Desk The US market has returned from the long Presidents’ Day weekend to find all four precious metals breaking down.  Seemingly friendly news for the precious metals out of Europe was not enough to combat technical selling and developments in China.  In Brussels, the Greek Finance Minister refused to request an extension of his country’s existing bailout …

We obviously opened up down on gold and silver which took away any bias I had. I said in yesterday’s thoughts that if we took out 9.00 on JDST it would be a trade long. It gapped up and opened at 9.24 but for those who could trade pre-market, could have got it at 9.01 to that price. It then …

Gold and silver really didn’t have much of a move higher, and trended a bit lower after a little pop in the morning. Silver however is all green on the arrows, which is indeed bullish.  The same can be said of the mining stocks as they did what gold and silver did on Friday. These are difficult plays when you …

From the Trading Desk A variety of headlines out last night and today have had the ultimate net effect of leaving the precious metals hovering around the unchanged closing level from yesterday.  News out of Russia indicates that Russian President Putin has agreed on the withdrawal of heavy artillery from the Crimea region and that a ceasefire will be in …