Gold Silver Market Report 30th September 2015

Fundamentals and News*:

  • Platinum extended its slump to the lowest in more than six years amid concerns demand from auto makers will slow as investigations into the Volkswagen AG scandal deepen. Gold was little changed.
  • Volkswagen cars with diesel engines rigged to cheat on diesel emissions tests are being pulled from markets in Spain, Switzerland, Italy, the Netherlands and Belgium, while prosecutors in Sweden consider opening an investigation on potential corruption. About 42 percent of platinum demand comes from its use in pollution-control devices in diesel engines, according to Morgan Stanley.
  • The widening investigation is reducing the appeal of the vehicle type at a time when the Federal Reserve is expected to raise borrowing costs, limiting American consumers’ capacity to get car loans. Platinum prices are heading for a fifth straight quarterly loss, the longest streak since 1991.
  • “With the situation with Volkswagen, a lot of analysts are looking for weaker automative sales,” Fain Shaffer, the president of Infinity Trading Corp. in Indianapolis, said in a telephone interview. “If interest rates rise, demand for cars will wane, and there will be less demand for platinum.”
  • Platinum futures for January delivery fell 0.5 percent to $917.90 an ounce on the New York Mercantile Exchange, after touching $899.60, the lowest for a most-active contract since December 2008. Palladium traded steady.
  • Gold futures for December delivery slipped less than 0.1 percent to $1,131.20 an ounce on the Comex in New York. Prices are set for a fifth straight quarterly loss, the longest losing streak since 1997. Silver gained.
  • Platinum is trading at a discount of about $213 to gold, the biggest since August 2012.
  • Some investors who had been betting on platinum outperforming gold are now exiting that trade, David Govett, head of precious metals at broker Marex Spectron Group in London, said by telephone.

(*Source:Bloomberg)

Data Forthcoming Releases:

Time*CountryToday’s EventsForecastPreviousActual
4:15 PMUSDADP Non-Farm Employment Change192K190K 
4:30 PMCADGDP m/m0.2%0.5% 
11:00 PMUSDFed Chair Yellen Speak

 

 

Resistance & Support Levels:

PeriodR3R2R1S1S2S3
Gold$   1,170.2 $   1,156.9 $   1,148.7 $   1,122.1 $   1,113.9 $   1,100.7
Silver$      15.49 $      15.22 $      15.05 $      14.51 $      14.34 $      14.07

 

Taken from Gold Silver City – Website to buy Gold and Silver bullion at the lowest price
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Gold Market Report 16th September 2015

Fundamentals and News*:

  • Thegold market has gone quiet before the Federal Reserve meeting.
  • Volume was about 47 percent below the 100-day average for this time of day, and Tuesdaysaw the lightesttrading all year, according to Comex data compiled by Bloomberg. Gold futures for December delivery slipped 0.5 percent to settle at $1,102.60 an ounce at 1:44 p.m. on the Comex in New York.
  • While traders see only a 28 percentchance that the Fed will raise interest rates after a two-day meeting that begins on Wednesday, investors may get an indication of the schedule for future increases. The probability of an increase climbs to 62 percent for December, based on futures data compiled by Bloomberg. Higher rates curb the allure of gold by making it less competitive to assets that pay a yield, like bonds.
  • “Traders and market participants seem to be frozen in some strange cryogenic world, while they wait for the Fed to bring them back to life,”David Govett, head of precious metals at broker Marex Spectron Group in London, said by e-mail. “I really don’t think we are going to see any major moves before the announcement.”
  • Market swings are also diminishing before the Fed’s meeting, with a measure of 15-day volatility falling to the lowest in almost a month on TuesdayOn Monday, spot prices traded within a range of $6.90, the smallest since July 14.
  • “Most of the markets are waiting for the Fed decision on interest rates,” Michael Smith, the president of T&K Futures & Options Inc. in Port St. Lucie, Florida, said in a telephone interview. “That uncertainty is keeping investors away from most of these markets, especially gold.”
  • Aggregate volume for Comex gold futures was estimated at 68,115 contracts on Tuesday, the smallest since Dec. 24 and less than half the average this year. Prices have fallen 6.9 percent in 2015.
    MitonOptimal Group, said by phone from Cape Town. “It’s been a tough few weeks for commodities traders, and I think there are a lot of guys out there with red paint all over their numbers, so it’s no surprise they prefer to err on the side of caution.”
  • Silver futures slipped on the Comex, while platinum, and palladium gained on the New York Mercantile Exchange

(*Source:Bloomberg)

Data Forthcoming Releases:

 

Time*CountryToday’s EventsForecastPreviouActual
4:30CADManufacturing Sales m/m1.1%1.2%
4:30USDCPI m/m0.0%0.1%
4:30USDCore CPI m/m0.1%0.1%

 

Resistance & Support Levels:

PeriodR3R2R1S1S2S3
Gold$   1,136.6 $   1,126.4 $   1,120.1 $   1,099.7 $   1,093.4 $   1,083.2
Silver$      15.21 $      14.96 $      14.81 $      14.30 $      14.15 $      13.89

Gold Silver Charting TA 23 Aug 2015

Gold and Silver

Gold
DT
Gold break out of inside day and Diff on Wed, closed off above 1,155 resistance and TL2.  If Gold can hold above 1,155 and TL3 for next few days, it may test 1,224
Potential Resistance  1,224 and 1,293
Potential Support 1,155, 1,072 and 995

Silver
DT
Silver formed a Doji on weekly chart, resisted by TL2.  Outside day is formed on daily and weekly chart, potential of a new trend
Potential Resistance 15.60, 16.68 and 17.55
Potential Support 14.38, 14.22 and 12.70

Sourced with permission from Cillin
http://cillinsg.blogspot.sg/2015/08/gold-and-silver_23.html

Gold Silver Charting TA 19 July 2015

Gold and Silver

Gold Silver charting TA 19 July 2015
Gold Silver charting TA 19 July 2015

Gold and Silver
DT
Broke trend line support.  Gold trading within down trend channel while Silver is trading above down trend channel and on Fri (17 Jul) closed within the Diff.  Silver COT buying interest is above 90.  From the charts, Silver seem to be less bearish than Gold
Gold
Potential Resistance 1,155, 1,224 and 1,293
Potential Support 1,072, and 995
Silver
Potential Resistance 15.28, 16.68 and 17.78
Potential Support 14.68, 14.24 and 12.70

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Shared with permission and gratitude from Cillin Trading Partner
http://cillinsg.blogspot.sg/2015/07/gold-and-silver.html