Category: Gold & Silver
The analysis published under this category are as follows.
Sunday, August 10, 2008
Gold Succumbs to US Dollar Strength / Commodities / Gold & Silver
By: Clive_Maund
A week of dramatic developments ended with the dollar surging to 6-month highs and silver crashing an important support level and plunging. Gold, however, did not break below its important $850 support level, although as we shall see this certainly does not mean it won't soon. On its 1-year chart we can see that there has been no real panic selloff yet in gold, whose decline thus far from its July peak has been modest and measured compared to that of gold and silver stocks, but if the $850 support level gives way we can expect it to plunge into a selling climax that should terminate the decline. Read full article... Read full article...
Sunday, August 10, 2008
Silver Plunges Through Support Heading for $14 / Commodities / Gold & Silver
By: Clive_Maund
The silver support level in the $16.00 - $16.50 area finally buckled on Friday in the face of the dollar spike leading to a rapid plunge that has taken the price below its 300-day moving average. We can see this development on the 1-year chart, and how it has opened up the risk of a continued decline to the next support level in the $14 area.Read full article... Read full article...
Saturday, August 09, 2008
Gold Plunges Towards Test of Key Support at $850 / Commodities / Gold & Silver
By: Merv_Burak
I think we all want to forget this past week and look ahead (all except those who had been on the short side, that is). We are now at a very significant support so let's see if it looks like gold will hold or fold.
GOLD : LONG TERM - Things got real interesting this past week so I thought I'd bring out my very long term chart of gold and see where we are at. About the only difference between the very long term chart and the long term chart is the use of a yearly (52 week) momentum indicator versus 30 weeks for the long term and the use of a yearly simple moving average line versus a 40 week weighted moving average line in the long term.
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Saturday, August 09, 2008
Gold Trend- The good, the Bad and the Ugly / Commodities / Gold & Silver
By: Brian_Bloom
Few of us holding gold related investments are happy about the recent performance of the gold price but, in this analyst's view, the appropriate way of looking at this is: “thank goodness the fever is abating”. Paradoxically, I am delighted that the gold price is experiencing a downward technical reaction. I would rather that the patient survived than that it died a spectacular pyrrhic death. A pullback in the gold price at this point in time is a very healthy sign. Read full article... Read full article...
Saturday, August 09, 2008
Why Gold Fell Below $900 / Commodities / Gold & Silver
By: Julian_DW_Phillips
In the week ending 25th July 2008, the decrease of €578 million in gold and gold receivables reflected the sale by two Eurosystem central banks which roughly equates to the sale of just over 30.0 tonnes of gold. In the week ending the 1st of August, there was a decrease of €26 million in gold and gold receivables reflecting the sale by one Eurosystem central bank and the purchase of gold coins by another Eurosystem central bank, which roughly equates to the sale of around 1.40 tonnes of gold [consistent with the Central Bank Gold Agreement that came into effect on 27th September 2004]. Read full article... Read full article...
Friday, August 08, 2008
Gold Bull Markets Strong Seasonal Tendancies / Commodities / Gold & Silver
By: Zeal_LLC
It's been a tough few weeks for gold investors. In mid-July this Ancient Metal of Kings closed near $976, within spitting distance of its all-time nominal high of $1005 achieved in mid-March 2008. But since then it has sold off relentlessly, down 10.4% ($101) at worst. Several days of this ugly span were marred by sharp selloffs too, including this past Tuesday's 2.2% plunge on the Fed's machinations.
If you are playing gold on the long side, it is tempting to get discouraged. After all, this week CNBC was emphatically claiming that the global commodities bulls had ended . Never mind that CNBC has prematurely declared these bulls over about a dozen times in the past few years, the misery of the moment is hard to transcend. Gold certainly wouldn't fare well if the commodities-hating financial media is right.
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Friday, August 08, 2008
Gold Driven Lower by US Dollar Rally / Commodities / Gold & Silver
By: Mark_OByrne
Gold finished trading in New York yesterday at $869.40, down $5.00 and silver was down 25 cents to $16.21 . Gold remained largely unchanged in Asian trading but has fallen further in early European trading and is trading at $864.60/864.60 per ounce ( 0943 GMT).The continuing rally in the dollar in recent days (has risen as high as EUR 1.5142 this morning) and the recent sharp fall in commodity and oil prices has seen gold come under further pressure and it looks set to test the next level of support at $845-$850.
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Thursday, August 07, 2008
The Case Against Investing in Gold / Commodities / Gold & Silver
By: Tim_Iacono
So, now that the U.S. government is squarely behind Fannie Mae and Freddie Mac and the price of crude oil is barreling toward the well known "bear market" milestone of a 20 percent decline, investors seem to be losing interest in gold as an investment alternative figuring that order will soon be restored to the global financial system and the recent energy price shock will soon be just one more in a long line of scares that, in the end, prove to be only a scare. Read full article... Read full article...
Thursday, August 07, 2008
Gold Continues to Consolidate / Commodities / Gold & Silver
By: Mark_OByrne
Gold finished trading in New York yesterday at $874.40, down $4.50 and silver was down 11 cents to $16.46. Gold has again recovered somewhat in Asian and early European trading and is trading at $883.00/883.40 per ounce (1058 GMT).Read full article... Read full article...
Thursday, August 07, 2008
Gold and Silver Near Significant Secondary August Bottom / Commodities / Gold & Silver
By: Peter_Degraaf
Upon analyzing over 30 years of data involving the gold price, we conclude that the seasonal lows usually occur in March and June. Quite often however, after the June low a secondary low is experienced in August. This secondary low is usually slightly higher than the primary low. People who have resisted the temptation to buy the June low will usually take advantage of this last opportunity before the start of the Christmas rally that seems to happen almost every year. Read full article... Read full article...
Wednesday, August 06, 2008
Gold Plunges Despite Feds Stagflation Warning / Commodities / Gold & Silver
By: Mark_OByrne
Gold finished trading in New York yesterday at $878.90, down $20.50 and silver was down 56 cents to $16.57. Gold has recovered somewhat in Asian and early European trading and is trading at $885.20/885.70 per ounce (1200 GMT).Read full article... Read full article...
Tuesday, August 05, 2008
Gold and Silver: Safe-havens in Troubled Times? / Commodities / Gold & Silver
By: Julian_DW_Phillips
Each day we hear another piece of bad news on the banking front. It was called the sub-prime crisis, then it was the credit crunch; what we have in reality is a full blown banking crisis . Where in the past credit was easily given, full-blown consumer spending was encouraged and when it went too far, bankers saw asset values were dropping below loans against them and banks started to go bust. We are now seeing banks sued by the New York Attorney General. Hardly an environment in which confidence in the banking and financial systems can be retained?Read full article... Read full article...
Tuesday, August 05, 2008
Gold Heads for Traditional August Seasonal Low / Commodities / Gold & Silver
By: Mark_OByrne
Gold finished trading in New York yesterday at $899.20, down $9.10 and silver was down 37 cents to $17.13. Gold continued to sell off in Asia and in early European trading.Gold has sold off on oil's steep falls and with sharp falls in many other commodity markets. The CRB Reuters Jefferies Commodity Index was down 3% yesterday, its largest one day sell off since last March (cocoa, natural gas and sugar were down sharply) and falling oil prices and a firmer dollar (back to 1.55 against the Euro) has led to gold's sell off.
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Monday, August 04, 2008
Gold Buying Opportunity on Investment and Transfer of Capital Fundamentals / Commodities / Gold & Silver
By: Chris_Vermeulen
The Secular Bull Market in Gold Investments corresponds directly to the Secular Bear Market in Financials. We explain why this trend will continue and why a short-term buying opportunity in Gold presents itself. Central Banks are in all sorts of a pickle.
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Monday, August 04, 2008
Gold Falls Ahead of Central Bankers Interest Rate Decisions / Commodities / Gold & Silver
By: Adrian_Ash
THE SPOT PRICE OF GOLD fell 1% from a three-session high early in London on Monday, dropping below $906 per ounce ahead of a busy week for central-bank decisions on interest rates.Asian stocks slipped 1.5% on average as the US Dollar held steady on the forex market.
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Sunday, August 03, 2008
Gold and Silver Outlook Remains Bearish / Commodities / Gold & Silver
By: Merv_Burak
Zig, zag, but more zag than zig. Very strong support at the $850 level and that may be where gold is headed. Will it hold there? Most commentators suggest that a new bull move is eminent. That is not yet in the charts so we'll have to just keep on watching.
GOLD : LONG TERM
There has been no major reversal of long term type movement in the price of gold lately so no need for a long term chart yet. One can go back to the last long term P&F chart in the 18 July 2008 commentary and what we have since is a down direction of O's finishing below the up trend line but not yet going below two previous lows.
Friday, August 01, 2008
Gold and South African Gold Miners Tumble on Rising Costs / Commodities / Gold & Silver
By: Adrian_Ash
THE SPOT PRICE OF GOLD fell into the New York open on Friday, beginning August almost 4.5% below July's start despite news that US unemployment just rose to a four-year high."Everything is down this morning as margin calls bite," says Mitsui in its Gold Market note today – "equities, the Euro, the oil price and precious metals.
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Friday, August 01, 2008
Gold Surges on Greenspan's Once In a Century Crisis Warning / Commodities / Gold & Silver
By: Mark_OByrne
Gold finished trading in New York yesterday at $913.70, up $10.70 and silver was up 37 cents to $17.72 . Gold surged on the COMEX open after initial jobless claims rose sharply to their highest level in 5 years. Gold subsequently gradually sold off and the slow sell off continued in electronic trading and in Asian and early European trading. Read full article... Read full article...
Thursday, July 31, 2008
Gold Gains on US Stagflationary Economic Slowdown / Commodities / Gold & Silver
By: Adrian_Ash
SPOT GOLD PRICES added to an overnight bounce at the New York opening on Thursday, rising above $915 per ounce on news of sharply higher US inflation and a slowing economy.Gold had earlier recorded an AM Fix here in London of $912 per ounce – more than 2.1% above yesterday's five-week low – as crude oil slipped and the US Dollar held steady on the forex market ahead of today's data.
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Thursday, July 31, 2008
Gold Hit by Bear Raid, Despite Real Inflation at 10% / Commodities / Gold & Silver
By: Mark_OByrne
Gold finished trading in New York yesterday at $903.00, down $14.00 but silver was up 5 cents to $17.35 . After sharp falls in early trading in the COMEX yesterday (some of which was due to large stop loss sell orders being triggered around the $900 mark) gold rose to close only down some 1.5% on the day. Silver in similar volatile trading surged from interday lows to close higher. The rally continued in electronic trading and in Asian and early European trading.Read full article... Read full article...