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Home / Futures Blog / Gold, silver futures begin wrapping up rough September

Gold, silver futures begin wrapping up rough September

September 26, 2011 by Daniels Trading

Precious metals were dropping in value to kick off the final week of September, a month that has seen gold alone lose almost one-fifth of its value since touching all-time highs during the first week of the month, according to published reports.

The value of the dollar, hedge funds liquidating to compensate for losses and a volatility that casts doubt about the appeal of gold are dragging down the values, according to analysts cited by Reuters.

"Europe's 'Lehman moment' is here, interbank lending [is] seizing up, credit spreads rising, investors fleeing all risk in a liquidation phase," states a note by Robert Howe of Hong Kong-based hedge fund Geomatrix, according to MarketWatch.

At 7:25 a.m. on Monday, gold futures fell 0.10 percent, a $1.70 slip to $1,638.10 per troy ounce. At 7:26 a.m., silver futures sank 3.79 percent, a $1.141 reduction to $28.96 per troy ounce.

The record price for gold, $1,923.70 per troy ounce, was set on September 6, when speculation soared as to how soon bullion would surpass the milestone mark of $2,000 per troy ounce. Silver futures' record price, $50.35 per troy ounce, was set in January 1980. This past April saw silver futures approach both the $50 psychological mark and the record price, but then the whitish metal led a commodities market dive and silver futures were valued at roughly $31.

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This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

Filed Under: Archived News

About Daniels Trading

Daniels Trading is an independent futures brokerage firm located in the heart of Chicago’s financial district. Established by renowned commodity trader Andy Daniels in 1995, Daniels Trading is built on a culture of trust committed to the firm’s mission of Independence, Objectivity and Reliability.

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Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

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