Jon Nadler, Kitco Metals Inc.

Precious Metals CommentaryAnother wild ride for gold unfolded over the past two-and-a-half trading sessions as sellers and bargain hunters played tug-o-war with the market’s price rope and sent the yellow metal over a relatively wide spectrum of quotes.

However, the general tilt was biased to the downside and while putative support at near the $1,550 mark was not quite broken, the still-strong dollar capped would-be gains fairly tightly and […]

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Precious Metals CommentaryThe midweek precious metals trading session started with a bit of a recovery effort following Tuesday’s price rout.

Market participants pushed the US dollar a tad lower on the index and lifted gold prices by about half a percent in the hopes that the Fed’s meeting minutes might contain a much-awaited hint that there will be some type of easing to come out of the next gathering of the FOMC on August 1st […]

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Precious Metals CommentaryThe new trading week got off to a relatively muted but also somewhat weak start in the precious metals’ complex. While the US dollar did give up one-tenth of a percent on the trade-weighted index, it still remained near 83.26 on the same and with only a less than 20-cent advance in crude oil and with the euro threatening to break the $1.23 mark against the dollar, the metals’ advances at opening time were small, to say the least.

Spot gold climbed $3.70 to open at $1,586 per ounce and silver commenced the trading day at $27.24 the ounce with a 14-cent advance […]

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Precious Metals CommentaryPrecious metals (as well as other commodity and some equity) markets settled lower on Thursday as the pressure exerted by a very robust US dollar took its toll and speculators turned risk-averse once again.

Spot gold ended with a loss of $13 at $1,603 per ounce in New York after some bulls exhibited apprehensions about easing prospects by the […]

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Precious Metals CommentaryFriday’s EU news lifted gold prices in a hurry but it appears that the $1,600 resistance level proved to be… resistant to further assaults for the time being.

The yellow metal started the abbreviated trading week in profit-raking mode as did the rest of the precious metals’ complex. The US dollar advanced to 81.90 on the trade-weighted index as a slew of scary economic data issued […]

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Precious Metals CommentarySerious price as well as psychological damage was incurred in the precious metals complex on Thursday as frustrated market participants got tired of waiting (as they ought to have) for the conclusion of the EU meeting and liquidated long positions en masse after sell-stops were touched during the late morning.

Spot gold cratered by over $28 to touch lows near $1,546 and to also close at the lowest level in futures since late May, while spot silver […]

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Precious Metals CommentaryGold’s roller-coaster continued as the yellow metal basically gave up all of Monday’s gains on Tuesday and touched lows near the $1,560 level once again overnight.

Options expiry-related selling and more risk-aversion in the wake of once again soaring Spanish and Italian bond yields kept the pressure up on bullion values and enabled the bears to remain in firm control of the market […]

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Precious Metals CommentaryThe new trading week got underway in New York this morning and the price boards in the metals’ complex were once again in the red following Friday’s tepid recovery attempts.

Spot gold started off at $1,568.30 with a loss of $4 while silver fell 15 cents to $26.75 per ounce. The $1,550-$1,525 putative support zone remains the focus among technicians who argue that if those levels do not prove to be strong we are […]

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Precious Metals CommentaryIAugust gold prices cratered by over 3.0% on Thursday ($50.30 an ounce) after the Fed offered only a modicum of an accommodation gesture on Wednesday and the yellow metal appears on course to set its largest weekly decline since last December at this juncture.

As regards the shattered Fedspectations on Wednesday, certain commentators did not waste time in trotting out a fresh batch of future QE3 visions […]

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Precious Metals Commentary"Fedspectations" of "let’s twist again like we did last fall" notwithstanding, gold prices lost more than $30 between Tuesday and Wednesday morning’s early dealings and breached the $1,600 support level once again.

The speculative crowd was said to be "flattening its books" ahead of the Fed announcement, but it at once also appeared to be factoring in an accommodation from the Fed as well as the fact that such accommodation would only be in the form of a […]

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