SILVER 1 OZ 999 NY (XAG=X) may be on pace for the lowest totals in more than a decade
U.S. Mint sales of gold and silver coins may be on pace for the lowest totals in more than a decade, said the consultancy Metals Focus.
Price is a factor that affects coin sales. Further, the 2016 election of U.S. President Donald Trump may have played at least some role in the decline, since some U.S. citizens who were previously buying both gold and guns under a Democratic administration now may feel less need to do so, the consultancy said.
“The most recent data published by the U.S. Mint confirms that U.S. coin and bar demand remains subdued,” Metals Focus said in a report Tuesday. “While we await…publication of final November sales figures, it is unlikely there will be a significant improvement from currently available figures.”
As of the Metals Focus report, American Eagle gold coins sold by the U.S. Mint so far in November stood at just 8,000 ounces for a year-to-date total of 230,000. This was down from 260,000 ounces for January to November 2017.
American Eagle silver coins sales stood at 1.27 million ounces, with the year-to-date total standing at 14.8 million, compared to 17.3 million during the first 11 months of 2017.
Overall, the bias in prices is: Downwards.
By the way, prices are vulnerable to a correction towards 14.74.
The projected upper bound is: 14.78.
The projected lower bound is: 13.86.
The projected closing price is: 14.32.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 20 white candles and 29 black candles for a net of 9 black candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 31.2589. This is not an overbought or oversold reading. The last signal was a buy 0 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 48.50. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 60 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 6. This is not a topping or bottoming area. The last signal was a buy 9 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 1 period(s) ago.
Rex Takasugi – TD Profile
PREC.M.XAG= closed up 0.181 at 14.320. Volume was 8,900% above average (trending) and Bollinger Bands were 0% wider than normal.
Open High Low Close Volume___
14.139 14.395 14.070 14.320 10,163
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 14.33 14.43 15.56
Volatility: 18 20 20
Volume: 1,016 203 51
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
PREC.M.XAG= is currently 7.9% below its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect very strong flows of volume into XAG= (bullish). Our trend forecasting oscillators are currently bearish on XAG= and have had this outlook for the last 15 periods.
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