9-8-10 Market Recap for Silver and Gold
9-8-10 – Silver Market Recap Report
The silver market forged a trading range of 25 cents today and in the process the market managed another new high for the move. Silver clearly seemed to be tracking favorably with the US equity markets as well as with the platinum and copper markets. Given the apparent positive correlation between the equities and silver marketmarkets some traders suggested that silver was benefiting from its physical commodity market status. In a fresh demand side story silver might have garnered some added lift from talk of rising Indian silver demand as that story has now surfaced twice in the holiday shortened week.
Gold Market Analysis for 9-8-10
The December gold contract forged a range of roughly $10 an ounce today in the face of what appeared to an on again off again flow of macro economic uncertainty. With equities up strong and seemingly content to hold their gains for most of the trading session, some gold longs apparently decided to bank profits into the early afternoon trade. In contrast, the rest of the metals markets seemed to spend significantly more time in positive territory.
After reading the gold and silver review, 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.
Andy Waldock publishes this blog. Andy Waldock is a financial advisor, asset manager, trader, analyst and broker for 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 advisable for all investors. There is substantial risk in investing in commodity futures. If you are interested in reading other circulated 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 a recap 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. CME Group provides market commentaries for wheat, soybeans, corn, gold and silver. 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.
No tags for this post.
Tags: 
Loading ...