Gold Market Review for 8-18-10  

After a two sided morning trade, the October gold contract returned to new high for the move and seemingly settled in above the $1,225 level. It almost seems as if a recovery in the stock market provided the gold market with its lift, but that action would seem to suggest the flight to quality angle in gold was no longer in vogue. With the US stock market showing some strength off some cyclical type stocks, it is also possible that some of the deflationary mentality from earlier in the session was tempered, and that might have allowed gold and other physical commodity markets to regain some footing. 

Silver Market Commentary for 8-18-10 

The silver market forged a rather wide trading range today, with most of the trade taking place below the $18.50 level. While the gold market managed to shake off early weakness, the silver market was apparently content to diverge with the gold market for most of the trading session. Even a mid day recovery in the equity markets didn’t seem to provide the silver market with much in the way of a lift. Perhaps the two sided trade in the US Dollar today left the silver trade confused.

After reading the silver and gold analysis, 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.

The daily commentaries provide a review 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.  Market commentaries for corn, wheat, soybeans, gold and silver are provided by CME Group.   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. 

Andy Waldock circulates this blog.  Andy Waldock is a financial advisor, asset manager, trader, analyst and brokerfor Commodity & Derivative Advisors, located in Sandusky, Ohio.  Therefore, Andy Waldock may have positions for himself, his customers, or his family in any commodity future market discussed. The blog is meant to develop a dialogue and educate those with an interest in the commodity future markets. The commodity markets may not be appropriate for all investors due to the high degree of leverage.  There is considerable risk in investing in commodity futures.  If you are interested in reading other published articles, commenting  on his publications or subscribing to Andy’s blog, please visit http://blog.commodityandderivativeadv.com, or if you have any questions, please call 1-866-990-0777.

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