Texas Trade Report Daily Report For Gold and Silver on 15 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 down by $6.20, which about -0.50%. It is currently trading at $1239.10. 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. Gold had small dip on the daily today. We do see this. The data of out US was good for the most part. Here, it is referenced on the economic calendar on FX Street

12:00		USD	MBA Mortgage Applications (Jan 10)		11.9%		-4.2%
13:30		USD	NY Empire State Manufacturing Index (Jan)		2.51	3.75	2.22	Revised from 0.98
13:30		USD	Producer Price Index (MoM) (Dec)		0.4%	0.4%	-0.1%
13:30		USD	Producer Price Index (YoY) (Dec)		1.2%	1.1%	0.7%
13:30		USD	Producer Price Index ex Food & Energy (MoM) (Dec)		0.3%	0.1%	0.1%
13:30		USD	Producer Price Index ex Food & Energy (YoY) (Dec)		1.4%	1.3%	1.3%
15:30		USD	EIA Crude Oil Stocks change (Jan 10)		-7.658M	-0.700M	-2.675M

Gold 30 Minute Chart

Onto the 30 minute chart, as you can see, this did have more pronounce movement today. Although, this does not impact overall the longer term view of gold going higher. The problem is that S & P 500 index is moving in the direction as the USD. For a true safe haven, you move in opposite direction of a risk asset. This is not happening. I still maintain a long term bullish bias. These short term movements are not going to be dramatic like we saw in 2013. It should not be discouraging to see investors to continue to invest in gold.

Silver Daily Chart

Onto silver, it is currently trading at $20.12 and is down by 12 cents. It is down by 0.64%. 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 see the consolidating still taking place for the most part. It does appear to on solid bottom. This is not a bad thing. It means that it does have a firm footing for an asset that is more than likely to go bullish in the near future. We should still investors still lining to invest in silver and they will not take this as a bad sign overall.

Silver 30 Minute Chart

On the 30 minute chart, we did see the price spike down a bit. It was not by much. The data that came out of the US today does not materially alter the direction of silver longer term. It is still looks bullish overall.

The metal markets will most likely shrug this off as a one off day. We have seen this before with many assets classes that do perform well under this type of condition. This is to be expected when an assets is fixing to start its bullish run or has been bullish for a long time. It should not be an indication of a dramatic rung lower. There will be periods where you do see some consolidation. This is to be expected. This should be seen more as getting firmer footing to continue the run up higher overall. Have a great day and to continue to be good investors.

If you like the information that has been presented, bookmark this page and the Texas Trade Report Blog in your favorites and send link to it to everyone you know.  Like us on our  Facebook page and blog about it on Facebook, Twitter it to friends and family. That is the way it unfolds.