Saturday, November 29, 2014

Black Friday Madness comes to Gold and Silver Markets

Seems the Gold and Silver markets have embraced the Black Friday sales concept and sold off, giving shoppers sale prices on both metals.

Gold was down 2.5% and silver down a massive 6.64% for the day. In Australian dollar terms it meant that gold was off $30/oz and silver off a whopping $50/kg!

Several factors seem to be in play at the moment, the Swiss Gold Referendum is on Sunday (polls indicate a No vote) and the continuing slide in the oil price have both weighed down the gold market and which has been amplified in the much smaller silver market.

charts from