Global Research Gold& Silver Marketwatch

Strategist Contact Information
Russell Browne - russell[email protected]abank.com
Trading Contacts
Reuters MMCN or (212) 225-6200
Stephen Abbriano - [email protected]otiabank.com
Robert Lockwood - rober[email protected]scotiabank.com
8/19/15 15:33 (last updated) Source: Bloomberg
Gold Silver Platinum Palladium
Gold Silver Platinum Palladium
Open 1122.25/1123.25 14.92/14.97 995.35 598.10 Pivot 1,127.45 15.175 1,004 606.47
High 1129.75/1130.75 15.28/15.33 1,016.15 614.15 Primary Support (Buy) 1,121.59 14.983 993 597.83
Low 1118.25/1119.25 14.88/14.93 987.50 591.55 Primary Resistance (Sell) 1,138.50 15.507 1,028 621.73
Close / Last Mid* 1128.00/1129.00 15.19/15.24 1,016.10 613.10 HBOP 1,155.41 16.031 1,063 645.63
London Pricing AM 1,123.20 14.84 994.00 993.00 LBOP 1,104.68 14.459 957 573.93
London Pricing PM 1,126.15 NA 593.00 602.00 Bollinger Band Upper 1,129.44 15.594 1,016 631.69
Handy Harman (Base) 1,126.15 15.225 593.00 602.00 Bollinger Band Mid 1,102.00 14.930 982 611.61
Gold / Silver Ratio 75.89 NA NA NA Bollinger Band Lower 1,074.55 14.266 948 591.53
Open Interest Gold OI Silver OI Relative Strength 9 Day 69 57 67 49
COMEX
#N/A Requesting Data...
#N/A Requesting Data... Relative Strength 14 Day 59 54 58 46
CBOT
#N/A Requesting Data...
#N/A Requesting Data...
Total 0 0
Gold and Silver Market Watch
Wednesday, August 19, 2015
Wednesday, August 19, 2015
Technical Levels, etc.
Close/last mid refers to the spot closing floor price in gold and silver, and spot’s last mid
price as provided by Bloomberg in platinum & palladium spot.
All other data provided by Bloomberg. Actual market levels may differ.
1.3
2.9
2.1
2.5
-4.6
-0.4
1.0
-0.8
-1.5
-5 -4 -3 -2 -1 0 1 2 3 4
Gold
Silver
Platinum
Palladium
Oil WTI fut
Copper fut
EUR
S&P 500
CRB
0.7
-1.5
1.5
-2.3
-6.1
-3.1
-0.3
-0.3
-2.6
-7 -6 -5 -4 -3 -2 -1 0 1 2
Gold
Silver
Platinum
Palladium
Oil WTI fut
Copper fut
EUR
S&P 500
CRB
-0.2
2.9
2.2
-0.4
-20.1
-9.1
2.8
-2.2
-9.7
-25.0 -20.0 -15.0 -10.0 -5.0 0.0 5.0
Gold
Silver
Platinum
Palladium
Oil WTI fut
Copper fut
EUR
S&P 500
CRB
1 Month Commodity Moves (%)
5-Day Commodity Moves (%)
Technical Levels
Notable Ranges & Technical Levels
Global Research
Gold & Silver Marketwatch
Daily Update
Market Commentary
Gold moved higher overnight to open the day at 1122.25/1123.25.
Shortly after the open, it dipped to a low of 1118.25/1119.25
following mixed U.S. Core CPI data. The metal then rebounded
sharply to a 1-month high of 1129.75/1130.75 on dollar weakness
ahead of the U.S. Fed minutes amidst concerns over China’s
waning economic growth. Gold ended the day at 1128.00/1129.00.
Following the close, the U.S. Fed minutes indicated a
less-than-likely chance of a September hike in interest rates.
Silver moved higher overnight, opening the session at 14.92/14.97.
It touched a low of 14.88/14.93 before surging to a high of
15.28/15.33, prior to concluding the session above $15, at
15.19/15.24.
Technical Commentary
Gold has moved up today to 1128. This is a bullish move taking out
last week’s high of 1126. We like the price action and see a test of
1137 the 38.2% Fibo of our 3-month range. Our August price
move has been from 1081 to 1126, back to 1110, and now up to
1130. Gold should continue to see buyers on any dip while we hold
above 1105.
Silver is the top performing commodity today jumping 2.5% to
close at 15.24. We were stopped out of our bullish silver view
yesterday on the break of $15 (dealt as low as 14.75). We like the
bounce today and see risk for another leg up to 15.61. The price
action seems to be in the early stages of an Elliot Wave C. If Wave
C = 1.618*Wave A, then we could see the metal as high as 16.70.
We are bullish again with stop back at $15 (again).
The gold-silver ratio crashed lower today to current 74.00. This has
been a very tricky trade as this week alone the ratio has moved
from 71.80 to 75.29, then back to 74.00. While both gold and
silver look firm, we like the chance of another drop to 71.80.
1
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