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Silver and Gold Market Commentary 8-24-10

By admin On September 9, 2010 Under Main Content

Silver & Gold Market Review for 8-24-10  

The silver market appeared to be under pressure from its physical commodity market standing in the early Tuesday trade. However, silver managed to throw off the weakness and charge higher ahead of critical US scheduled data and that anticipation seemed to be rewarded with an increase in uncertainty and some renewed flight to quality buying of silver. However, copper wasn’t as lucky as that market clearly seemed to be undermined by the threat of a double dip recession. In short, there was a distinct in the Tuesday metals trade between financial instruments and industrial commodities, with silver apparently choosing the financial instrument path.

The gold market waffled around both sides of unchanged in the early morning trade, but the bull camp seemed to regain control over prices well ahead of the regularly scheduled US data flows. Apparently weakness in the equity markets combined with much weaker than expected US existing home sales readings for a rekindling of economic uncertainty. In fact, in the face of a two point bond rally the gold market clearly seemed to regain its flight to quality status, especially since the Dollar seemed to be pressured by the sour US data.  

After reading the gold and silver commentary, 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.

The daily commentaries provide a summary of any reports released that day, a recap of each commodity’s traded price activity, an analysis of the factors that influenced price activity, and a look ahead at the next day’s schedule.  Market commentaries for wheat, soybeans, corn, gold and silver 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. 

This blog is publicized by Andy Waldock.  Andy Waldock is a financial advisor, asset manager, trader, analyst and brokerfor Commodity & Derivative Advisors, located in Sandusky, Ohio.  For that reason, Andy Waldock may have positions for himself, his clients, or his family in any commodity future market reviewed. The blog is meant to develop a discussion and educate those with an interest in the commodity future markets. The commodity markets employ a high degree of leverage and commodity trading  may not be suitable for all investors.  Investing in the commodity futures could result in substantial risk.  If you are interested in reading other circulated articles, commenting  on his publications or subscribing to Andy’s blog, please visit http://blog.commodityandderivativeadv.com, or if you have any questions, please call 1-866-990-0777.


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