{"id":17345,"date":"2014-12-05T08:33:23","date_gmt":"2014-12-05T15:33:23","guid":{"rendered":"http:\/\/www.itmtrading.com\/?p=17345"},"modified":"2014-12-05T12:53:18","modified_gmt":"2014-12-05T19:53:18","slug":"a-marks-bullion-update-12","status":"publish","type":"post","link":"https:\/\/www.itmtrading.com\/blog\/a-marks-bullion-update-12\/","title":{"rendered":"A-Mark’s Bullion Update"},"content":{"rendered":"

\"A-Mark-Precious-Metals-Inc\"Over the weekend, Swiss voters rejected a referendum that would have required the Swiss central bank to hold 20% of its assets in gold.\u00c2\u00a0 While the referendum wasn\u00e2\u20ac\u2122t expected to pass, its definitive rejection set a bearish tone to the week for gold.\u00c2\u00a0 Once crude oil started to plummet because of OPEC\u00e2\u20ac\u2122s decision to maintain output in an oversupplied market, gold crumbled as well and made an intraday low of $1,142.50.<\/p>\n

The dramatic sell-off was short lived though.\u00c2\u00a0 Moody\u00e2\u20ac\u2122s cut Japan\u00e2\u20ac\u2122s credit rating and US holiday spending slowed, fueling fear that global growth will stumble.\u00c2\u00a0 Then with crude oil reversing and causing shorts to scramble, gold ended up trading all the way back up to $1,222.50.\u00c2\u00a0 Gold traded in an $80 range and volume for the active February gold contract was over 34 million ounces.\u00c2\u00a0 Silver had an even wilder trading day than gold.\u00c2\u00a0 It had an intraday percentage move of nearly 19% from lows to highs.\u00c2\u00a0 Both gold and silver put in key reversals yesterday.\u00c2\u00a0 This means that they opened below the previous day\u00e2\u20ac\u2122s close, made a new low, and then closed higher than the previous day\u00e2\u20ac\u2122s high.\u00c2\u00a0 From a technical perspective, the key reversals are bullish.\u00c2\u00a0 Fundamentally, there are still some obstacles working against gold though.\u00c2\u00a0 The USD remains strong while crude oil is still weak.<\/p>\n","protected":false},"excerpt":{"rendered":"

Over the weekend, Swiss voters rejected a referendum that would have required the Swiss central bank to hold 20% of its […]<\/p>\n","protected":false},"author":6,"featured_media":17083,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1207],"tags":[1421,1422,323],"class_list":["post-17345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-gold-prices","tag-gold-trading","tag-gold-demand"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/17345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/comments?post=17345"}],"version-history":[{"count":1,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/17345\/revisions"}],"predecessor-version":[{"id":17346,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/17345\/revisions\/17346"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/media\/17083"}],"wp:attachment":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/media?parent=17345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/categories?post=17345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/tags?post=17345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}