{"id":22490,"date":"2017-03-07T13:40:49","date_gmt":"2017-03-07T20:40:49","guid":{"rendered":"https:\/\/www.itmtrading.com\/blog\/?p=22490"},"modified":"2017-03-14T13:12:02","modified_gmt":"2017-03-14T20:12:02","slug":"mark-bullion-update-8","status":"publish","type":"post","link":"https:\/\/www.itmtrading.com\/blog\/mark-bullion-update-8\/","title":{"rendered":"A-Mark Bullion Update"},"content":{"rendered":"

\"\"<\/a>3.7.2017 Since failing multiple times at its 200 day moving average, gold has trended lower and has fallen in its last four consecutive trading sessions.\u00c2\u00a0 Fed rhetoric from multiple officials is pointing towards the increased likelihood of a rate hike next week.\u00c2\u00a0 The combination of a technical failure at the 200 day moving average plus this chatter has weighed on gold and the rest of the precious metals complex.\u00c2\u00a0 Near term support is coming in at the convergence of the 100 and 50 day moving averages around $1,211.\u00c2\u00a0 The recent ETF trend has shifted and there has been 500,000 toz of redemptions since last Friday.\u00c2\u00a0 Comex longs are at three month highs though, as of CFTC data to February 28th, but these longs will be tested with a further move south.\u00c2\u00a0 Silver Comex longs are at highs not seen since August of 2016 so this $1 drop in price we\u00e2\u20ac\u2122ve seen over the last week is an understandable correction.\u00c2\u00a0 Physical demand in the US for fabricated products remains historically weak, even with the drop in price.\u00c2\u00a0 This is best exemplified by US Mint sales figures.\u00c2\u00a0 This past February, the US Mint sold 1.215 million silver eagles.\u00c2\u00a0 In February of 2016, they sold 4.782 million silver eagles.\u00c2\u00a0 This is a staggering drop in demand of 3.567 million ounces, or 75% off from the same period last year.<\/p>\n

Our Coin of the Week > Canadian Gold Maple Leaf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

3.7.2017 Since failing multiple times at its 200 day moving average, gold has trended lower and has fallen in its last […]<\/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":[50,1421,1422,1387],"class_list":["post-22490","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-etfs","tag-gold-prices","tag-gold-trading","tag-silver-prices"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/22490","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=22490"}],"version-history":[{"count":3,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/22490\/revisions"}],"predecessor-version":[{"id":22495,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/22490\/revisions\/22495"}],"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=22490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/categories?post=22490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/tags?post=22490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}