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Silver and Gold Market Recap Report 08-02-10

By admin On September 10, 2010 Under Main Content

Silver Market Commentary Report  for 8/2/2010 

The silver market managed a rather impressive range up extension to start the week and in the process the market managed to reach the highest level since July 1st. To make the gains today, the silver market had to discount the news of a 3.6% year over year increase in May Mexican silver production. Silver and other physical commodity markets seemed to catch some lift from broad based commodity buying interest but a weaker Dollar might have given the bull camp an added incentive as the Dollar fell to the lowest level since April 15th.

Gold Market Commentary Report  for 8/2/2010 

The gold market managed a recovery attempt after some initial weakness early Monday morning. With rising equity prices and a declining Dollar the gold market could have been lifted by a number of different developments. In fact, some flight to quality players suggested that comments from Bernanke regarding the troubled finances of various States, contributed to the morning recovery attempt. However, talk of money flowing out of gold equity instruments for the month of July might have prompted some long liquidation of gold in the wake of the late morning highs.

After reading the gold and silver recap, traders might want to take a peek at the commercial traders momentum.  The Commercial Trader momentum can be tracked by using the Commodity Futures Trading Commission Commitment of Traders reports.  Our idea is that, in a value driven commodity futures market no one knows fair value like the people who produce it or, have to use it.  In fact, it is precisely their sense of value that provides the commodity market’s rhythmic meanderings that swing traders love so much.  Let’s face it, producers know when their product is overvalue and it should be sold just as well as end line users know when they should be stocking up at low prices. Therefore, trader should be able to incorporate this valuable information into their future market education.

This blog is published by Andy Waldock.  Andy Waldock is a financial advisor, trader, analyst, broker and asset managerfor Commodity & Derivative Advisors, located in Sandusky, Ohio.  As a result, Andy Waldock may have positions for himself, his family, or his customers in any commodity future market discussed. The blog is meant to develop a dialogue and educate those with an interest in the commodity future markets. The commodity markets may not be suitable for all investors due to the high degree of leverage.  There is substantial risk in investing in commodity futures.  If you are interested in reading other published articles, commenting  on his writings or subscribing to Andy’s blog, please visit http://blog.commodityandderivativeadv.com, or if you have any questions, please call 1-866-990-0777. 

The daily commentaries provide an analysis of the factors that influenced price activity, a recap of any reports released that day, a summary of each commodity’s traded price activity, and a look ahead at the next day’s schedule.  Market commentaries for corn, wheat, soybeans, silver and gold are provided by CME Group.   The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.


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