Resources - Commentary
7/9/2008 - 07/09/2008
07/09/2008 - Gold found support yesterday after testing the 100-day moving average of $918.90. Closing above that mark, gold rebounded today to close at $928.60 up $5.30. Silver also tested its technical support level aka 100-day moving average of $17.808. Today, following gold, silver rebounded to finish up $0.22 at $18.175.
07/09/2008 - Gold found support yesterday after testing the 100-day moving average of $918.90. Closing above that mark, gold rebounded today to close at $928.60 up $5.30. Silver also tested its technical support level aka 100-day moving average of $17.808. Today, following gold, silver rebounded to finish up $0.22 at $18.175.
6/26/2008 - 06/26/2008
06/26/2008 -- The metals took a sharp turn upward as the dollar sinks and oil surges. Gold finally broke through the high side of a trading range that has lasted almost a month. Gold for August delivery, now trading @ $912.70, is now poised to break its 100-day moving average of $917.30.
06/26/2008 -- The metals took a sharp turn upward as the dollar sinks and oil surges. Gold finally broke through the high side of a trading range that has lasted almost a month. Gold for August delivery, now trading @ $912.70, is now poised to break its 100-day moving average of $917.30.
6/10/2008 - 06/10/2008
06/10/2008 - Gold fell roughly 3.25% in
New York
today to finish at $867.90. Silver also fell significantly as a near term sign that the metals are somewhat detached from the inflating price of oil. However, the dollar is still playing its role as it showed strength today. The fed appears to be more focused on growth and inflation in our economy and not so much worried about recession. The general market looks to this news as a possibility of rate hikes this year. This consensus propelled the dollar at the expense of the metals.
06/10/2008 - Gold fell roughly 3.25% in
6/4/2008 - 06/04/2008
06/04/2008 -- The precious metals group had another lackluster day as the dollar continues to strengthen and oil drops to the lowest point since May 15th. For the 4th day in a row, gold and silver remained in a tight range. The spot gold contract finished the day in New York $1.70 at $879.90. Silver finished up $0.105 at $16.94.
06/04/2008 -- The precious metals group had another lackluster day as the dollar continues to strengthen and oil drops to the lowest point since May 15th. For the 4th day in a row, gold and silver remained in a tight range. The spot gold contract finished the day in New York $1.70 at $879.90. Silver finished up $0.105 at $16.94.
5/28/2008 - 05/28/2008
05/28/2008 -- Gold dropped for the second day in a row as the dollar gains strength. June gold fell $7.40 to finish at $900.50. Silver also fell $0.05 on the day to finish at $17.415.
05/28/2008 -- Gold dropped for the second day in a row as the dollar gains strength. June gold fell $7.40 to finish at $900.50. Silver also fell $0.05 on the day to finish at $17.415.
