Peter's Commentary Silver soars more than 17% from its intraday lows. That's huge! Gold is also up more than $70 to over $1210. Volume is also high. From Zerohedge, 12/1/2014: The biggest intraday positive swing on record... ($16.82 is next test for SIlver at 50DMA) And gold and silver are exploding... (gold has broken above its 50DMA at $1205) Silver … [Read more...]
December 1, 2014 By Peter Wright
SSS% – Silver Soars Seventeen Percent
Filed Under: Precious Metals Tagged With: crude oil, Gold, OPEC, silver
December 1, 2014 By Peter Wright
A Quick Look at Copper and Silver
Peter's Charts: Precious metals and copper got absolutely hit on Friday, so I thought I'd post up some charts of copper and silver this weekend. Here's the copper daily chart: Straight away it is apparent that the bears are in control of this market. The chart looks like a bear chart – since early July with lower lows and lower highs. DMI is above +DMI. And with the drop in … [Read more...]
Filed Under: Precious Metals Tagged With: copper, silver
November 29, 2014 By Peter Wright
India Removes Restrictions On Gold Imports
Peter's Commentary The Indian Government's decision to remove gold restrictions is unlikely to change the near term bearish outlook for gold prices. From Kitco, Neil Christensen, November 28, 2014 On Friday, the Indian government removed its current 80:20 import rule, which said that 20% of all imported gold had to be mandatorily exported before any new shipments could be brought in. … [Read more...]
Filed Under: Precious Metals Tagged With: Gold, gold imports, gold jewelry, India
November 29, 2014 By Peter Wright
Largest Foreign Gold Withdrawals In Over Ten Years
Peter's Commentary: So now we have it officially: 42 tonnes of gold were withdrawn during October according to the NY Fed's monthly reports. According to ZeroHedge, 11/29/2014: A week ago, when we reported that in a stunning move, the "Dutch Central Bank Secretly Withdrew 122 Tons Of Gold From The New York Fed", and when looking at the NY Fed's monthly reports of gold deposits by foreign … [Read more...]
Filed Under: Precious Metals Tagged With: Dutch Central Bank, Germany, Gold, Netherlands, NY Fed
June 9, 2014 By Peter Wright
Gold and the mining shares go nowhere today
Peter's commentary: Both gold and the mining shares remain range bound today. Perhaps gold is receiving some support from the ECB's action to introduce negative interest rates last week. There is now a good counter argument for the common statement that you shouldn't invest in gold because it doesn't pay interest. At least you don't have to pay negative interest. That should make the buying of … [Read more...]
Filed Under: Precious Metals
