10-5-10 Market Recap for Silver and Gold
October 6, 2010 by Celebration
Filed under Web News
10-5-10 – Silver Market Recap Report
Not to be outdone by the gold market, the December silver contract quickly caught fire and forged a surprising range up extension. With a lower Dollar, easing talk from the Fed, a sharply higher equity market and better than expected US scheduled data the bull camp in silver seemed to have a long list of supportive developments today. Also like gold the silver market was potentially cheered by the inflationary ramifications of a Fed member calling for “much more” easing. Given the magnitude of the rally in equities and silver one almost got the impression that silver was in some way tied to the equities market today.
10-5-10 – Gold Market Recap Report
The gold market flared higher and in the process might have surprised some of the bull camp with the size of its rally today. With the Dollar streaking lower and the Chicago Fed calling for “much more” easing there were a number of potential stories serving to drive prices upward. With the Chicago Fed also suggesting that the US might see inflation temporarily rise above 2% because of its efforts to revive the economy, even inflation could be cited for the rally today. With a long list of physical commodity markets managing significant range up action it is clear that a number of markets were seeing something resembling an inflationary wave.
After reading the silver and gold 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 futures market education.
This blog is reported by Andy Waldock. Andy Waldock is a financial advisor, broker, asset manager, trader, and analystfor Commodity & Derivative Advisors, located in Sandusky, Ohio. Therefore, Andy Waldock may have positions for himself, his customers, or his relatives in any commodity future market reviewed. The blog is meant for educational purposes and to develop a dialogue among those with an interest in the commodity future markets. The commodity markets may not be suitable for all investors due to the high degree of leverage. Investing in the commodity futures could result in substantial risk. 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 an analysis of the factors that influenced price activity, a recap of any reports released that day, a recap of each commodity’s traded price activity, and a look ahead at the next day’s schedule. CME Group provides market commentaries for soybeans, corn, wheat, 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.
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