Texas Trade Report Daily Report For Gold and Silver on 13 January 2014

Good Morning, Good Afternoon or Good Evening where ever you are in the world. This is Texas Trade Report on the forecast for gold and silver for today. This report is reporting price action movements of gold and silver for today. This is the sole focus of this report.  Before I can go any further, here is the risk disclaimer.

Risk Disclaimer:
Investing in any financial asset does carry the risk of loss. There is the risk of loss of the money have invested. Never invest money that you are not committed losing. There is a possibility of losing your original investment. If you are not sure about investing, seek the help of a registered investment adviser.

The purpose is to inform about price action and direction about gold and silver. It is to report only on information on gold and silver. It is not endorsement to buy or sell to a particular bullion dealer nor it is a recommendation from a particular firm. All opinions are my own and not Blogger.com nor Google.com.

Gold Daily  Chart

Onto gold, it is up about $3.90, which about +0.31%. It is currently trading at $1251.00. The fib levels on the daily chart are $1252.02 at the 23.6, $1268.13 at the 38.2% fib level, $1292.50 at the 50% level, at $1331.23 at 61.8 fib level on the daily chart. We do see evident that going up on the daily time frame.

 

Gold 30 Minute Chart

I am going use one of my favorite time frames is the 30 minute chart. As you can see, it is trying to pierce the top of the Bollinger bands. This indication does suggest that investors and traders are bullish. I did read that there more speculative buying at this time from COT report. Also, I believe a lot of what the chart is showing the Non-Farm Payrolls report that investors were not impressed with the results that came out. We are seeing more buying because it. The other key is going to be US bond auctions such 6-month and 3-month notes. We are showing that investors are not buying as much as of the bonds. Here evidence to support it today.

This is results of US Treasury Bonds at 16:30 GMT, 13 January 2014 as of today:

                                                                     Actual                Previous

16:30    US  USD  6-Month Bill Auction             0.055%           0.080%             

16:30    US  USD  3-Month Bill Auction             0.035%          0.055%             

FX Street is my source for the bond auction today from the Economic Calendar

I think it does show that investors are not interest in buying US treasuries, and we are seeing more speculative positioning on the long side for gold. We are still seeing bit more gold buying and investing in gold at this time. This is positive for gold. I am bullish at this point and see the evidence does confirm it.

Silver Daily Chart

Onto silver, it is currently trading at $20.36 and is up by 14 cents. It is up by 0.72%. The key fib levels for silver at 50.0% at $20.94 and $21.45 at the 61.8 fib level on the daily chart.  Silver has been caught in consolidation pattern for a while on the daily chart. We are seeing more movement to the upside.  Like gold, we are seeing the same thing happen as the result of the Non-Farm payrolls report.

Silver 30 Minute Chart

On the 30 minute chart, we do see upward explosive movement in the price of silver. I did put the fib levels with Fibonacci tool extension to highlight the levels and put the Bollinger bands to illustrate the movement in price that we are seeing currently. We can see the price is moving up higher. We do see that investors and traders are buying it. We do notice the volume is higher now. There is more interest right now in buying it. It is still very bullish. I believe will see the break out of consolidation pattern. I am bullish right now. I am going on the reports for the US Treasury bond auctions showing not many are buying the bonds. This does indicated why interest is shifting away and seeing why silver has moved up today.  This does explain interest in investing in silver.The two factors are the poor unemployment results from the Non-farm payroll reports and less buying of US treasuries, which has been represented in the US bond auctions today. I am bullish for now.

The metal markets are saying that they are not buying the fact that US is in recovery. We see this from the unemployment data from Friday and today’s US bond auctions. This does say that investors and traders are more confident now in the metals than they were in 2013. If we do see any kind of dips that any retracements won’t be the kind we saw in 2013. We do expect that the retracements are going be much smaller dips rather than huge ones.  We will see much higher prices over the long haul. The charts are showing this. We are starting to see evidence that there is a flight to quality.  We are seeing the precious metals being seen as the safe havens they are. Have a wonderful day today, and I will put another gold and silver price action report tomorrow.

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