Friday, September 19, 2014

Gold Down, Silver Collapses

NYMEX Gold $1216.80 down $10.10, Silver $17.883 down $0.634.
From Forbes:
Gold futures have now given up most of their gains for the year as the metal was pressured again Friday by a muscular U.S. dollar.

After the pit close on the Comex division of the New York Mercantile Exchange, gold for December delivery lost $10.30 to $1,216.60 an ounce. The market hit a low of $1,214.20 that was its weakest level since Jan. 2 and within striking distance of the ending 2013 price of $1,205.70.

December silver fell 67.3 cents to $17.844 an ounce, with a session low of $17.78. On a futures continuation chart, silver had not been below $18 an ounce since August 2010.

The London afternoon gold fixing was $1,219.75, down from the morning fixing of $1,222.50 and the Thursday afternoon price of $1,220.50.

“It’s because of nothing more than a higher dollar here,” said Sean Lusk, director of commercial hedging with Walsh Trading....MORE
That's a 4-year low for silver. 
Chartology: "The Downside Target in Silver is Below $15"
Silver Bounces at Support For the Fourth Time In 14 Months
An Argument For $13 Silver and $1100 Gold  
Gold, Silver Continue Fearless Decline
And many more.