RSSCategory: Articles: Gold Silver Prices

Gold & Silver Prices Today On Fire

Gold & Silver Prices Today On Fire

What a day for gold and silver … September 13th 2012 could become a historic day for the precious metals. At the center of the stage today was the US Fed meeting and the announcement of their decisions by Mr Bernanke at 14h15 EST.  Here is what came out of it in a nuthsell: A new round of quantitative easing was decided, with a key objective to decrease the unemployment rate in the US.  Mr Bernanke said that “We’re looking for ongoing, sustained improvement in the labor market”. He calls the current unemployment rate of approximately 8% a “grave concern.” The monetary stimulus includes 40 billion US dollar per month […]

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The Fed and the ECB determine to Destroy the Middle Class

| September 13, 2012 | Articles: Gold Silver Prices
The Fed and the ECB determine to Destroy the Middle Class

While Wall Street cheers the actions by the Fed to further enlarge its already bloated Balance Sheet, those of us who live on Main Street should get accustomed to further increases in our food and energy costs. What I find rather perverse, is the statement by the FOMC that “longer term inflation expectations remain stable”. Yeah, maybe on the salaries and wages front but sure as hell not on the raw materials front. Take a look at where hedge fund money is now flowing – right back into the hard or tangible assets category again. Get used to higher gasoline and heating oil prices and brace yourself for the food […]

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Gold Price – Top Stories Today

It’s not very usual that we give an overview of links to good readings, but the quality and the number of top stories on September 12th 2012 is justifying it: Best climate Don Coxe has ever seen for gold price increases: Global Commodities stragist Don Coxe believes all conditions are in place for significantly higher gold prices. He goes that far to state that “the opportunities ahead are the best I’ve seen.” He even spurs fund managers and other market participants to take action, in a recent public speech. Don Coxe sees a gold mining stocks rally coming as well, by saying that “a new gold rush is ahead for investment in gold […]

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Gold Price Today – September 12th 2012

Gold Price Today – September 12th 2012

The spot gold price today rose in the first hours of the London session to a peak at about $ 1746. The price increase was supported by the news coming out of Germany that the constitutional court decided that the European Stability Mechanism (the bailout fund) is not in conflict with the country’s Constitution. Shortly after, the gold price started a steady decline, which accelerated somewhere in the midst of the New York session. The lows of the day were at just below $ 1730. The decline was probably due to a combination of some profit taking (after three weeks of strong price increases) and speculation on tomorrow’s meeting of the US Fed (where […]

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When Will Gold Finally Take Off Again?

When Will Gold Finally Take Off Again?

By Jeff Clark, Casey Research Gold’s pullback a year ago no doubt shook out a lot of nervous buyers. They got in on the rise, they got nervous on the pull back. They sold, and they lost. That’s just the way the market works. But it’s a shame, because when we look logically at gold’s historical performance – for example over the last 12 years – we see that holding their nerve, tough though it can be, will most likely turn out to be the best approach, and for good reason. Look at gold prices for the last five years. You can see, despite the pullback, that the trend is […]

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German court ruling pushes euro higher

| September 12, 2012 | Articles: Gold Silver Prices
German court ruling pushes euro higher

Stocks, commodities and the euro have all risen this morning following the German Constitutional Court ruling in favour of German participation in the European Union’s new “European Stability Mechanism” (ESM) fund. The €500 billion ESM is designed to help eurozone countries stave off sovereign default. The court stated that the €190bn “ceiling” on German contributions can be only raised by lawmakers, which implies that the bill for German taxpayers could easily run higher. The EURUSD briefly nudged above $1.29 this morning, and looks like it could be in the early stages of a move that takes it back up to around $1.50. Similarly, the Dollar Index has fallen below 80.00 […]

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Gold Price Should Benefit from Central Bank Floodgates

The Dollar Gold Price hit a new six-month high at $1746 per ounce Wednesday morning, while stocks and the Euro also rallied after a ruling by Germany’s Constitutional Court cleared the way for the creation of a permanent Eurozone bailout fund. “The price action remains bullish with support at $1700 and an upside target of $1790,” says the latest technical analysis from bullion bank Scotia Mocatta. The Silver Price meantime traded as high as $34.16 an ounce – also a six-month high – while other commodities were broadly flat. Ahead of tomorrow’s Federal Reserve decision, analysts continue to speculate on whether the Fed will announce more quantitative easing (QE), with one suggesting the Fed […]

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Fed QE Expectations Keep Gold Prices Near Highs with Investors Growing Enthusiastic for Precious Metals

Gold Prices hovered around $1730 per ounce Tuesday morning in London, broadly in line with where they started the week, while stock markets ticked lower and longer-dated US Treasuries dipped, with traders and investors looking ahead to this week’s Federal Open Market Committee meeting, which begins tomorrow and concludes Thursday. Silver Prices traded between $33.60 and $33.70 per ounce for most of this morning, near to last week’s close, with other commodities also flat on the day. “Expectations that the Federal Reserve will start fresh quantitative easing [QE] measures at this week’s FOMC meeting [have] played a large role in keeping Gold Prices in close proximity to their recent highs,” says a note from […]

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Gold price breakout continuing on September 7th 2012

Gold price breakout continuing on September 7th 2012

For three weeks in a row, the gold price has been closing the week with a strong increase. On August 31st, we saw the US Fed coming up with clear hints to more money stimulus to come. In his speech, Mr Bernanke made his case and defended his monetary policy; it became clear that more of the same was coming. On September 6th, Mr Draghi in Europe confirmed earlier rumours that the ECB would buy bonds of several European countries that are in trouble. In fact, what his happening here is that the root cause of the problem (excessive debts by countries) is being cured by creating even more debts (money […]

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Silver Price Forecast: The Great Silver Chart

Silver Price Forecast: The Great Silver Chart

A reader asked me to update a previous long-term silver chart of mine. Below, is the updated long- term chart for silver. Since the last chart, silver has broken out of the pennant formation (on the short-term chart), and is looking really good. On the chart, I have highlighted two fractals (or patterns), marked 1 to 3, which appear similar. What makes these two fractals so special, is the similarity of the circumstances in which they exist.   There was a significant peak in the Dow (1973 and 2007) between point 1 and 2 of both fractals. Also, point 1 on both fractals represents a significant bottom for silver after the peak of […]

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The silver streak has only just begun

| September 10, 2012 | Articles: Gold Silver Prices
The silver streak has only just begun

Following Friday’s dramatic price surge in response to the Bureau of Labor Statistics’ August jobs numbers, precious metals have cooled a little in trading this morning. Wednesday’s German Constitutional Court ruling and Thursday’s FOMC verdict are the big market-moving events to watch out for this week. The European Central Bank’s insistence that its unlimited purchases of sovereign debt from troubled eurozone nations will be “sterilized” offered a sop to the Germans, though some have doubts about this. Robert Wenzel points to a little commented upon ECB press release that announces the suspension of “the application of the minimum credit rating threshold” on collateral used to access short-term loans from the bank. At […]

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Fed Easing Will be Catalyst for Gold Price

Fed Easing Will be Catalyst for Gold Price

The Gold Price drifted lower to $1730 per ounce Monday morning in London, ten Dollars below Friday’s six-month high, while stock markets were broadly flat and US Treasuries fell, amid speculation that the Federal Open Market Committee could announce further stimulus measures later this week. The Silver Price  fell below $33.50 per ounce – around 20 cents below last week’s close – while other commodities were broadly flat, with the exception of copper, which posted gains. Friday’s trading saw the Dollar Gold Price hit its highest level since February, after a disappointing US nonfarm payrolls report led to renewed speculation the Federal Reserve could announce a third round of quantitative easing (QE3) when it makes […]

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Are Commodities coming Back in Vogue?

| September 10, 2012 | Articles: Gold Silver Prices
Are Commodities coming Back in Vogue?

The following chart of the Continuous Commodity Index ( CCI ) shows a sector that apparently is catching the attention of the hedge fund community once again as risk trades come back into favor courtesy of what seems to be another wave of money printing/bond buying about to launch. Notice that the price rally from the late spring low down near 503 first cleared the 25% Fibonacci Retracement level off the drop from the 2011 peak near 692. Instead of falling back through that level and making another fresh leg lower, the market bounced right off that same 25% retracement level and then spiked higher taking out the 38.2% retracement […]

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Bull Pennant forms as the Triangle target gets nailed in Gold

Bull Pennant forms as the Triangle target gets nailed in Gold

Gold finishes the week with a “high and tight” continuation pattern going into next week known as a “Bull Pennant”, see one hour chart left hand side below.  The chart work has been text book in gold for quite some time with the most recent being the breakout to the upside from a multipoint channel on the same one hour chart.  What made the breakout from the channel so significant is that it took place above the prior “Major” trendline resistance of the “Descending Triangle” on the daily chart.  Prior trendline resistance can act as support, see right hand side below. In the big picture, the upside breakout of the descending triangle had a classic “Throwback” and […]

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