Gold and Silver Snips

2014 should be a great year for Commodities and Miners and I expect a period of financial market turmoil for the US Market. The current Cyclical Bull Market has reached the same period duration as the previous one (2003-2009). The second leg up of this Bull Market has also been reached 2 months ago. Therefore the time window for a top has been completed and I think we should not be surprised if a strong down move begins in the coming days.



http://news.goldseek.com/GoldSeek/1394226000.php

“Gold and the gold miners could definitely bounce here after such horrid performance,” declares Chart Prophet LLC Executive Director and Chief Investment Officer Yoni Jacobs. “Gold could find support at $1,200 or $1,000.”

Paula Bujia’s more upbeat. While Schroders doesn’t publish an official gold forecast, Bujia looks for an average bullion price between $1,400 and $1,600 in 2014, implying as much as a 14 percent hike compared to last year.

http://wealthmanagement.com/etfs/digging-gold-mining-stocks

Oct. 29 (Bloomberg) -- Silver may jump to $20 an ounce next year supported by a weaker dollar and increased industrial and investment demand, according to Bank of America Merrill Lynch, which dubbed the metal “the golden child.”
Silver, which traded today at $16.28 an ounce, has doubled from last year’s low as the U.S. currency dropped and central banks cut interest rates, Michael Widmer and other strategists wrote in a report received yesterday. “Looking forward, exchange rates are set to support silver,” the report said.

Oct. 27

Gold futures on the COMEX Division of the New York Mercantile Exchange dropped to a new three-week low on Tuesday as U.S. dollar continued to recover after the release of a worse-than-expected low consumer confidence data. Silver and platinum both dropped.
    The most active gold contract for December delivery dropped 7.40 U.S. dollars, or 0.7 percent, to finish at 1,035.40 dollars an ounce. It touched as low as 1,032.90, the weakest level since Oct.6.
    The U.S. consumers' confidence fell unexpectedly in October. The Consumer Confidence Index, released by the Conference Board, sank to its second-lowest reading of 47.7 since May. This is well below economists' expectations of 53.1.
    This discouraging data fueled dollar's appeal of safe-haven in view of economy turmoil. By the end of gold floor trading time, the dollar index, a gauge measuring the greenback's value against a basket of major currencies, rose 0.275 to 76.47, a new peak in two weeks. The concerns that the dollar's rally might erode gold's demand of hedge pressured the precious metal to extend declines.
    December silver was down 55.5 cents to 16.54 dollars per ounce. January platinum lost 26.80 dollars to 1,319 dollars an ounce.     

Coutesy of SPVTrading

Gold futures on the COMEX Division of the New York Mercantile Exchange closed much lower and touched a 3-week low on Monday as U.S. dollar strongly recovered from its 14-month low. Silver and platinum both dropped.     The most active gold contract for December delivery dropped 13.60 U.S. dollars, or 1.3 percent, to finish at 1,042.80 dollars an ounce. It tumbled to as low as 1,041.10 dollars shortly before pit trading closed. That is also the weakest level since Oct. 7. 

 Silver continued forward march on the bullion market here today due to sustained demand from industrial users amid higher New York advices.

Gold, however, moved down owing to lack of local buying interest.

In New York, gold futures fell on Friday as a rebounding dollar curbed its investment appeal.

December silver rose by 17.8 cents to $17.723 an ounce.

However, December gold futures ended down by $2.20 to $1,056.40 an ounce on the Comex division of the New York Mercantile Exchange.