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Mixed results as silver moves higher and gold moves lower – Kitco NEWS

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As far as gold and silver go, typically they run in tandem, with both precious metals moving higher, or lower during a trading day. While there can be major differences in the percentage gains when both metals move higher, or the percentage drawdown’s when they move lower, for the most part they run in the same direction.

The same observation can be made when we compare physical or spot gold to gold futures, and physical silver to silver futures. The majority of the time both gold futures and spot will run in tandem either higher or lower, with the same being true for silver.

That is certainly not the case today. When we compare the direction that gold futures moved, and then compare that to the direction physical gold moved today we see that they moved in opposite directions.

As of 5 PM EDT Gold futures basis the most active December 2020 contract is currently trading down by  $16.00 and is fixed at $1954.30. Spot or Forex gold gained $18.55 in trading today, which is a net gain of almost a full percentage point and is currently fixed at $1946.81. As recently as last night the spread or differential between spot gold and gold futures was approximately five dollars. That spread has widened in the last 14 hours in essence doubling the price difference between gold futures and physical gold.

Silver futures basis the September 2020 contract is currently trading unchanged at $27.34, with its spot counterpart currently trading up $0.90 at 27.21, which is a net gain of 3.40% on the day.

One plausible explanation that might account for spot silver and gold having greater gains than their futures contract is the incredible demand for physical gold and silver and the electronically traded funds SLV and GLD.

Another possible explanation is that market sentiment is factoring in a belief that by December the current global pandemic will have subsided somewhat, and the economic hardships and contractions which the majority of countries face will have improved.

Currently our technical studies indicate that the recent price correction in both gold and silver might be on their last leg down. The upside to this model is that when this current correction runs its course it will mark the beginning of a final fifth wave which will take gold prices to a new all-time record high.

For those who would like more information on our services, simply use this link.

Wishing as always, good trading,

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Three Foothills units placed under 'outbreak watch' as Alberta reports 153 new COVID-19 cases – Calgary Herald

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“A unit can be on watch without having any active patient or staff cases.”

AHS added that patients, families, staff and physicians are all notified when a unit is placed under watch.

The outbreaks at Foothills continued to grow Friday. One more patient tested positive for COVID-19, while five more hospital staff were infected. In total, positive cases in 17 patients and 18 health-care workers have been linked to the outbreaks.

More than a dozen more workers at Foothills have also been instructed to isolate, for a total of 136 staff members currently in quarantine. More than 300 staff have been tested for the novel coronavirus since the start of the outbreaks.

No new deaths at Foothills were reported Friday. Three patients have died due to the outbreaks.

AHS said all patients and almost all health-care workers linked to the outbreaks have been identified, with testing underway.

Though the Foothills outbreak continues to expand, Alberta reported Friday that a much smaller outbreak at another Calgary hospital has been declared over. An outbreak at the Peter Lougheed Centre resulted in infections of three people, all of whom have recovered.

153 new COVID-19 cases

Alberta reported 153 new cases of the coronavirus Friday, bringing the province’s total case count since March to 17,343.

The new cases came from 14,211 tests, about a 1.1 per cent positive rate. There are now 1,497 active COVID-19 cases in Alberta, an increase from Thursday. More than half of those cases (773) are in the AHS Edmonton zone.

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Alberta reports more than 100 COVID-19 cases for 16th straight day – CTV Edmonton

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EDMONTON —
Alberta reported 153 cases of COVID-19 Friday as active infections increased to 1,497.

The province has added more than 100 cases every day since Sept. 9, when it reported 98 new cases.

Fifty-six Albertans are being treated for the coronavirus in hospital, including the 14 patients who are in intensive care.

Alberta did not report new deaths Friday, keeping the total at 261.

The Edmonton zone continues to have more than half of Alberta’s count with 786 confirmed cases, while the Calgary zone has 518.

Alberta has reported 17,343 cases of COVID-19 to date.

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Alberta reports 153 new cases of COVID-19, no new deaths – CBC.ca

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Alberta reported 153 new cases of COVID-19 Friday bringing the number of active cases in the province to 1,497, up 35 from the day before.

A total of 56 people were being treated in Alberta hospitals for the illness, including 14 in intensive care.

No deaths were recorded leaving the number at 261.

Three more outbreaks at schools — Calgary’s Clarence Sansom and Glenmeadows schools and Elsie Yanik Catholic School in Fort McMurray — have been reported, bringing the number of schools with outbreaks to 35.

Outbreaks are declared when a school has two or more cases.

Five schools, with five or more cases, are on a provincial ‘watch’ list. Four of those schools are in Edmonton, with Centre High the most recent addition.

The regional breakdown of active cases was:

  • Edmonton zone: 786 up 13 from the day before.
  • Calgary zone: 518 up 23 from the day before.
  • North zone: 129 down one from the day before.
  • South zone: 41, up one from the day before.
  • Central zone: 16, down three from the day before.
  • Unknown: seven, up two from the day before.

To date 968,031 Albertans have been tested for the coronavirus. So far 15,585 have recovered from the disease.

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