These two key markets are in a bearish posture for the precious metals Monday and will continue to have a daily influence on the precious metals markets.
These two key markets were in a bearish posture for the precious metals Monday and will continue to have a daily influence on the precious metals markets.
These two key markets will continue to have a daily influence on the precious metals markets.
These two major markets will continue to have at least some daily influence over the precious metals markets.
FORBES: Comex Gold Weaker As Market Consolidates, Outside Markets Mildly Bearish
The U.S. dollar index and crude oil will continue to have at least some daily influence over the precious metals markets.
The U.S. dollar index and crude oil will remain two important outside market forces that will have a daily impact on the precious metals markets.
FORBES: Comex Gold Sees Corrective Bounce Amid Mildly Bullish "Outside Markets"
The key outside markets are in a mildly bearish daily posture for the precious metals, as the U.S. dollar index is firmer and crude oil prices are weaker.
FORBES: Comex Gold Weaker on Mildly Bearish Outside Markets; Summer Doldrums Continue
The precious metals were boosted to their daily highs on the news, albeit in modest fashion, while the U.S. dollar index sold off to its daily low.
From the metals trade which is my daily bread I can tell you that no one is ever going to build another copper smelter in the US ever again.
The precious metals did back down from their daily highs in late-morning trading Monday, following a stronger-than-expected reading on the U.S. manufacturing sector.
However, both precious metals did move well off their daily lows by the close, as bargain hunters stepped in to buy the dip in prices.
But everything from foreign currencies (the Canadian, Australian and New Zealand dollars all test record highs) to precious metals (setting new records almost daily) and crop futures (corn and wheat have nearly doubled this year).
Some fresh, bullish European Union news headlines at midday also lifted the precious metals markets and many other markets off their daily lows.
FORBES: Comex Gold Ends Slightly Lower But Well Off Daily Low On Bargain Hunting
Keep Buying the Precious Metals Bull Market by Addison Wiggin originally appeared in the Daily Reckoning.
FORBES: Commodities Could Consolidate But Precious Metals Bull Rages On
The U.S. dollar index bouncing up from its daily low in late trading added some selling pressure into the precious metals markets.
FORBES: Comex Gold Ends Slightly Lower as Trading Remains Choppy
However, the dollar index remains in a short-term downtrend on the daily chart, which is an underlying bullish factor for the precious metals.
FORBES: Comex Gold Ends Solidly Higher On Good Follow-Through Strength, Fresh Technical Buying
The U.S. dollar index was slightly lower Wednesday afternoon and near its daily low, which also gave some upside support to the precious metals.
That news helped to lift the U.S. dollar index up from its daily low, which in turn led to selling pressure in the metals.
Precious Metals Portend Dollar Trouble by Addison Wiggin originally appeared in the Daily Reckoning.
However, the metals prices quickly rebounded to trade near the middle of their daily trading ranges for the remainder of the session.
However, in afternoon trading Tuesday the U.S. stock indexes had moved well off their daily lows, which added a bit of downside pressure to the precious metals markets.
FORBES: Comex Gold Ends Weaker on Mild Profit Taking after Hitting New Record High Early On
And while the precious metals markets are seeing active price action late this week, daily trading volumes are still on the lighter side as many market players are out for the holidays.
FORBES: Comex Sharply Lower, Hits 6-Month Low, On Long- Liquidation Pressure
The U.S. dollar index backed down from its daily high and fell below unchanged in midday trading Wednesday and that was a bullish factor for the precious metals.
FORBES: Comex Gold Rebounds On Bargain Hunting, Short Covering
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