Gold Market Analysis  Report for 7/9/2010

The bull camp seemed to have a number of potential reasons for the surprise rally on Friday morning. Perhaps the market was a touch oversold or perhaps the market saw some reason to revive the flight to quality track. Apparently a ratings agency put some Irish instruments on a negative watch, while others saw something within the EU stress test rules that prompted some fresh concern. It is even possible that rumors of tighter cash market reporting rules inspired some buyers to act this morning. With an interest rate hike in Asia overnight and favorable Canadian employment readings some bulls might have decided to buy because of the fear of inflation, but to most that was an empty argument.

Silver MarketCommentary Report for 7/9/2010

The September silver showed some initial weakness this morning but then managed to forge a fairly impressive mid morning recovery bounce. It is possible that silver was being lifted by flight to quality rumors or it is possible that silver was being lifted by increased cash demand rumors because of a story circulating on blogs regarding the tracking of cash silver purchases in 2012. It would seem unlikely that a tax change proposed for 2012 would prompt a noted wave of buying today and therefore it is possible that flight to quality pre-weekend speculation was behind some of the buying of silver today.

After reading the gold and silver recap, 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 commodity trading system.

This blog is publicized by Andy Waldock.  Andy Waldock is a financial advisor, broker, asset manager, trader, and analystfor Commodity & Derivative Advisors, located in Sandusky, Ohio.  Therefore, Andy Waldock may have positions for himself, his customers, or his relatives 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 advisable for all investors due to the high degree of leverage.   Investing in the commodity futures could result in considerable risk.  If you are interested in reading other circulated articles, commenting  on his writings or subscribing to Andy’s blog, please visit http://blog.commodityandderivativeadv.com.

The daily commentaries provide a rundown 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 schedule for the next day.  Market commentaries for corn, wheat, soybeans, silver and gold 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.

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