RSSCategory: Articles: Gold Silver Prices

Your Window to Buy Gold Below $1,700 Is Closing

Your Window to Buy Gold Below $1,700 Is Closing

By Jeff Clark, Casey Research Even the hardiest investors have been lamenting that gold prices have been stuck in a rut for a long time. Others with less experience have watched the market waiting for something to happen…. And as always, many bailed out of the market entirely, licking their wounds. But some, including me, have been stocking up. We’re convinced prices won’t stay down forever. In fact, I think there’s a good reason to buy gold if you can, and as soon as possible. Here’s why: Based on the data I chart below, I believe the window of time to buy gold for less than $1,700 an ounce is […]

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Patterns of the day – Gold and Silver

Patterns of the day – Gold and Silver

Gold found support at the backside of the “Major” descending trendline, (see right hand side below), and it coincided at the same time with support of a perfect parallel channel that formed over the past week on the 30 minute chart, (see left hand side below).  I strongly believe that identifying these types of chart developments increases the probabilities for trading success. The way things stand now, the odds of triumphantly trading on the long side of the gold contract are increasing. In my last post on gold I felt that piling in on the long side with the break of the major trendline was “rolling the dice”.  There is always a potential payoff in […]

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Silver Breaks its Downtrend

Silver Breaks its Downtrend

For nearly the last year and a half, silver has been in a sustained downtrend in price although it has managed to find a floor of support near the $26 level. This week it has finally broken that downtrend. If this metal is going to begin a sustained rally, any setback in price should find buying emerge near the downsloping blue line shown on the chart. Failure to hold this level and particularly now the $30 level, will see the metal fall back into that triangle formation with support then coming in down closer to $28. Note that the metal is now trading above the 50 week moving average while […]

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Hedge Fund Silver Shorts getting Squeezed Out

Hedge Fund Silver Shorts getting Squeezed Out

Take a look at the following charts of the positions of the hedge fund community in the silver market and notice what has happened to them as a result of the break of overhead resistance levels on the technical price charts. Shorts are being forced out as fresh longs invade the market. You should also note that this data does not include today’s HUGE move higher which no doubt caught a large number of fresh top pickers off guard. Author: Dan Norcini  

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The Gold Cycles: Short and Long Term Outlook

The Gold Cycles: Short and Long Term Outlook

The following is an excerpt from the premium update from the The Financial Tap, which  is dedicated to helping people learn to grow into successful investors. They provide cycle research on a number of markets through weekly updates and trade alerts. Learn more about how The Financial Tap can help you have success in the markets. Kudos to gold and its ability to rally after what had been a stretch of fairly average action.  The mini breakout by gold has broken the long running series of lower Daily Cycle tops, a positive development that will need to be sustained if we’re to see Gold begin to move higher over time.  For now though, Gold […]

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Precious metals update

Precious metals update

Gold is now at the backside of prior “Major” trendline resistance, see right hand side chart below.  The bulls do not want to see a breakdown from here.  I mentioned in the previous post on gold that the breakout to the upside from the “Descending Triangle” pattern was not a signal to buy for the intermediate to long term for me.  I believe that risk is high in relation to probabilities of a new bullish trend developing in the daily timeframe.  Those who think that this trendline break is the “all-clear” signal to buy are “rolling the dice” in my opinion.  In the meantime, should the backside of this trendline hold as support, things start to get more interesting from a bullish […]

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Demand to Buy Gold Continues to Be High But Professional Trading Light Ahead of Jackson Hole

Demand to Buy Gold Continues to Be High But Professional Trading Light Ahead of Jackson Hole

Prices to Buy Gold retreated in London trade back towards yesterday’s 1-week low at $1653 per ounce on Thursday morning, slipping as world stock markets also fell. Silver Bullion held steadier, only 10¢ below last week’s finish at $30.70 per ounce. The US Dollar ticked lower against the Euro and Sterling on the currency market. Iron ore sank yet again, taking its drop since the start of March to 37%. “Bullion trading is still quite light with the market awaiting [Friday’s] Jackson Hole symposium,” says one London market-maker in a note. “Players on the precious metal markets already appear to be exercising restraint ahead of the annual [central-banking] conference this weekend,” agrees Commerzbank’s […]

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Recent Rally in Silver – A Sign of Strength or a Mere Correction?

Recent Rally in Silver – A Sign of Strength or a Mere Correction?

In its latest Gold Demand Trends report, the World Gold Council reports that gold buying by the world’s Central Banks hit a new record of 157.5 tons, more than double the level of Q2 2011 and accounting for 16% of overall global demand. Among them are the National Bank of Kazakhstan, and the central banks of the Philippines, Russia and Ukraine. If the Central Bank buying continues at the current pace this could be a record year for Central Bank buying. That’s the good news. The bad news is the WGC estimates that global gold demand in Q2 2012 was 990.0 tons, down 7% from the demand for the yellow […]

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Breakout Move In Silver Forecasting Global Hyper-Inflation

Breakout Move In Silver Forecasting Global Hyper-Inflation

Turmoil in Peru, Mexico, Argentina and Bolivia is adding to the world’s already existing shortage of silver.  This supply crunch is combined with rising political uncertainty in Egypt, Syria and Iran and economic malaise in the EU and the United States which is causing investment demand for silver to rise exponentially.  China is flexing its muscles in the South China Seas and is covertly importing silver to hedge against major declines in the U.S. dollar.  Recently we called a major top in treasuries in late July and a breakout move into silver for several weeks. All signs are pointing to a possible global inflation which could propel silver prices higher possibly from a ratio […]

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Gold Prices Could Correct if Bernanke Disappoints

Gold Prices Could Correct if Bernanke Disappoints

Gold Prices dipped below $1665 per ounce Wednesday morning in London, slightly below where they started the week, while stock markets edged lower, with markets focused on upcoming meetings of central bankers in the US and Europe. Silver Prices fell to $30.76 an ounce – in line with last week’s close – as other industrial commodities also ticked lower, following news that iron ore prices in China had dropped for the 13th day in a row. On the currency markets, the Euro held its ground above $1.25 this morning, with two days to go before Federal Reserve chairman Ben Bernanke gives a speech on monetary policy at the annual Jackson Hole conference […]

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QE3 Discussion Will Push Gold Prices Higher, Eurozone Problems Have Not Disappeared

QE3 Discussion Will Push Gold Prices Higher, Eurozone Problems Have Not Disappeared

Gold Prices traded just above $1660 per ounce Tuesday morning in London, a few Dollars down on last week’s close, while stocks and commodities were also broadly flat on the day and US Treasuries gained. Silver Prices rallied to nearly $31 per ounce, having fallen back through that level a day earlier, before easing back towards lunchtime. “Although in an uptrend, gold does not appear as technically strong as silver,” reckon technical analysts at Scotia Mocatta, a bullion bank. On the currency markets, the Euro climbed back above $1.25, having dropped below that level during Tuesday’s Asian trading, with analysts continuing to speculate on the prospects for a third round of quantitative […]

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Gold Prices are Headed Higher as People become aware of the Dire Situation of the Financial and Monetary System

Gold Prices are Headed Higher as People become aware of the Dire Situation of the Financial and Monetary System

Finally, the price of gold has broken out of its’ period of consolidation and now looks set to test the $1700 an ounce level in the short-term.  And, as both the technical and the fundamental outlook for gold remain positive, sentiment towards the yellow metal will also become more positive which in turn will provide additional momentum resulting in higher prices. Last week the price of gold rallied above $1,660 an ounce for the first time since early May, after minutes from the latest U.S. Federal Reserve showed that many FOMC members believed that more monetary easing measures should be implemented as soon as possible unless upcoming economic data showed  […]

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The Precious Metals MAJOR Breakout Part II

The Precious Metals MAJOR Breakout Part II

It has been a year since the price of gold bullion topped out and even longer for silver. Many traders and investors have been patiently waiting for this long term consolidation pattern to breakout and trigger the rally for precious metals and miner stocks. Most of gold bullion is used for investment purposes.  As a result, it rises when there is economic weakness and investors lose confidence in the fiat currency of a country. With continuing economic weakness in the United States it will almost certainly lead the Federal Reserve to act in way that is more powerful than Operation Twist which is the selling of short term securities to […]

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Ratio Chart Looks Bullish For Gold

Ratio Chart Looks Bullish For Gold

This is sort of a follow up to Karen’s article a few days ago highlighting gold and silver as a sector that you’ll want to pay attention to in the coming weeks. Here is a ratio chart of the Gold:USD. If you are unfamiliar with what a ratio chart is here is Stockcharts definition: “You can divide any security by another and chart the results by entering the first security’s symbol, a colon (:), and then the second security’s symbol. For example, to compare how Intel has been doing relative to the Semiconductor Index, you’d enter “INTC:$SOX” in the “Enter Ticker” box of our SharpChart tool.” One of the main reasons […]

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