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Strategist Contact Information
Global Research
Russell Browne - [email protected]
Trading Contacts
Gold & Silver Marketwatch
Reuters MMCN or (212) 225-6200
Stephen Abbriano - [email protected]
Robert Lockwood - [email protected]
Daily Update
Friday, January 30, 2015
Market Commentary
1-Day Commodity Moves (%)
Gold moved higher overnight as it opened the day at
1261.50/1262.50. It rose initially following weaker-than-expected
U.S. GDP data before declining to a low of 1257.50/1258.50. The
metal then made a quick rebound as U.S. equities retreated and
Brent crude oil advanced to a three week high. Gold closed at the
intraday high of 1278.00/1279.00.
Silver edged higher overnight, opening the session at 16.90/16.95.
It dipped to a low of 16.79/16.84 before following gold to a high of
17.29/17.34, prior to concluding the session at 17.17/17.22.
Gold
2.1
Silver
1.8
Platinum
1.6
Palladium
-0.1
Oil WTI fut
6.8
Copper fut
2.1
EUR
-0.1
S&P 500
-0.9
CRB
2.9
-2
-1
0
1
2
3
4
5
6
7
8
5-Day Commodity Moves (%)
Technical Commentary
Silver has closed at 17.20, barely retracing any of Thursday’s
decline. Daily candles hint to intraday support at the 100 day MA
(16.81), and we note that silver was unable to close above its 21
day MA (17.22). The monthly data highlight the absence of a
trend, and bearish momentum indicators appear to be showing
signs of moderation.
Gold
-1.4
Gold has closed at 1278.50, retracing a portion of Thursday’s
decline to end January with its first significant monthly gain
(8.21%) since June. Monthly momentum indicators have turned
neutral, as we note the appearance of support around the 100
month MA (1196.46) and resistance around the 21 month MA
(1274.09). Trend indicators have also shifted to neutral.
Silver
-5.9
Platinum
-3.6
Palladium
-0.4
4.3 Oil WTI fut
Copper fut
0.1
EUR
0.9
S&P 500
-2.4
CRB
1.0
-7
-6
-5
-4
-3
-2
-1
0
1
2
3
4
1 Month Commodity Moves (%)
Gold
8.5
Silver
The gold-silver ratio has risen modestly, climbing further from
Thursday’s rally to close at a two-week high. The monthly candles
are bullish, as we note the extended lower shadows for both
December and January, with December having formed a doji
(typically suggestive of uncertainty) and January having formed a
hammer (bullish). The ratio has yet to test expected support at the
9 week MA (69.75) and we await a break above 75.50.
9.1
Platinum
3.1
Palladium
Oil WTI fut
-4.6
-12.1
Copper fut -12.3
EUR
-7.0
S&P 500
-3.7
CRB
-6.3
-15.0
-10.0
-5.0
1/30/15 15:51 (last updated)
Notable Ranges & Technical Levels
Gold
Open
High
Low
Close / Last Mid*
London Pricing AM
London Pricing PM
Handy Harman (Base)
Gold / Silver Ratio
Open Interest
COMEX
CBOT
Total
1261.50/1262.50
1278.00/1279.00
1257.50/1258.50
1278.00/1279.00
1,263.50
1,260.25
1,260.25
74.48
Gold OI
418,171
28
418,199
5
0.0
5.0
10.0
15.0
Source: Bloomberg
Technical
Levels etc.
Technical Levels,
Silver
16.90/16.95
17.29/17.34
16.79/16.84
17.17/17.22
16.92
NA
17.220
NA
Platinum
1,220.50
1,243.25
1,216.95
1,239.60
1,230.00
1,221.00
1,221.00
NA
Silver OI
163,469
5
163,474
Gold
Palladium
773.75
784.20
770.85
773.15
783.00
775.00
775.00
NA
Pivot
Primary Support (Buy)
Primary Resistance (Sell)
HBOP
LBOP
Bollinger Band Upper
Bollinger Band Mid
Bollinger Band Lower
Relative Strength 9 Day
Relative Strength 14 Day
1,275.53
1,265.08
1,293.87
1,322.66
1,236.29
1,327.79
1,254.65
1,181.51
58
60
Silver
17.367
16.690
17.919
19.149
15.460
18.811
17.242
15.673
47
51
Platinum
Palladium
1,236
1,215
1,261
1,307
1,169
1,294
1,247
1,199
47
49
779.38
761.67
790.87
820.07
732.47
816.71
784.56
752.40
44
45
Close/last mid refers to the spot closing floor price in gold and silver, and spot’s last mid
price as provided by Bloomberg in platinum & palladium spot.
All other data provided by Bloomberg. Actual market levels may differ.
1
Gold and Silver Market Watch
Friday, January 30, 2015
Gold: 2-Year Close with Moving Averages ($/oz)
Gold: 2-Month Candlesticks ($/oz)
1725
1325
1625
1300
1275
1525
1250
1425
1225
1325
1200
1225
1175
1125
Feb-13
Jun-13
Oct-13
Spot
Feb-14
100-Day
Jun-14
200-Day
1150
8-Dec
Oct-14
18-Dec
28-Dec
7-Jan
17-Jan
27-Jan
7-Jan
17-Jan
27-Jan
400-Day
Silver: 2-Year Close with Moving Averages ($/oz)
Silver: 2-Month Candlesticks ($/oz)
33.0
18.5
31.0
18.0
29.0
17.5
27.0
17.0
25.0
23.0
16.5
21.0
16.0
19.0
15.5
17.0
15.0
Feb-13
Jun-13
Spot
Oct-13
Feb-14
100-Day
Jun-14
200-Day
15.0
8-Dec
Oct-14
18-Dec
28-Dec
400-Day
Source: Bloomberg (may differ from market spot prices)
Moving Averages
5 Day MA
10 Day MA
20 Day MA
30 Day MA
60 Day MA
100 Day MA
200 Day MA
400 Day MA
Markets
FX Majors
Gold
1,279.78
1,285.93
1,258.06
1,233.30
1,214.14
1,214.27
1,252.76
1,276.64
Silver
17.636
17.866
17.302
16.807
16.537
16.815
18.346
19.623
Platinum
1,246
1,261
1,248
1,232
1,224
1,245
1,350
-
Palladium
780.96
776.04
783.48
791.08
790.71
790.03
820.76
-
CAD
EUR
GBP
CHF
AUD
ZAR
JPY
as of:
1.2697
1.1303
1.5061
0.9174
0.7781
11.6454
117.4100
1/30/2015 15:51
CRB
DJAIG
CRUDE (fut)
S&P 500
US 10 Yr
US 30 Yr
CDN 10 Yr
as of:
218.84
100.84
47.53
2002.88
1.66
2.23
1.27
1/30/2015 15:51
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