RSSCategory: Articles: Gold Silver Prices

Financial Astrology: Gold and Silver

Financial Astrology: Gold and Silver

The recent rally with gold and silver sort of crept up on many traders who were waiting for the Fed to announce the start of QE3. The rally started the first week of August with or without (?) more QE.  The question mark reflects my personal opinion that more QE is flowing secretly, and not approved by Congress. August 2nd was a date I described beforehand in my newsletter as very critical for the markets and gold.  I felt that gold would be at high risk for a significant pullback on that day.  Gold did take a hit that day however gold ended up faring much better than Knight Capitol […]

Continue Reading

Gold and silver prices continue their strong move – 23 August 2012

What a spectactular week in the gold and silver markets. Eearlier this week, we wrote that gold and silver prices are breaking out. The dollar gold price moved up strongly on Thursday August 23, gaining 1.9% and closing around $ 1,668. The dollar silver price went  up with 3.2% closing around $ 30,50. On a weekly basis, gold in dollar terms is up 3% and silver already 8.1%. There is a strong difference between the moves of gold and silver in dollar compared with the metals prices euro, as the euro gold price moved up only 0.05% and euro silver price 0.14%. That could seem strange, but the long term […]

Continue Reading

Euro Gold closing in on its All Time High

Euro Gold closing in on its All Time High

The following chart reveals the strength of gold when priced in terms of the Euro Currency. Notice that it has been steadily working higher and is within striking distance of an overhead resistance level coming in just shy of 1350. If can push through this level, it should be able to match or exceed its all time high. It has been in a consolidation pattern since late last year but with a definite higher bias as can be seen from the series of higher lows riding along the lower red support line. Notice that mini-trend higher has accelerated since April of this year.

Continue Reading

Silver Tacks on the “30” Handle

Silver Tacks on the “30” Handle

Short Covering from panicked speculators has led to a sharp rise in silver prices that is also drawing in new buyers who chase momentum. Note that hedge funds while remaining net longs, had also begun playing silver from the short side as the European sovereign debt crisis had most investors looking at the slowing economic growth environment as one in which to short both copper and silver.  Yesterday’s change of wording in the FOMC Statement sent shock waves through the shorts who ran like hell setting the stage for a signficant amount of technically related buying in today’s session which commenced in Asian trade last evening. I am expecting the […]

Continue Reading

Silver Update by Hubert Moolman

Silver Update by Hubert Moolman

The silver chart has formed a big pennant like that of the gold chart. What this indicates is that the silver price will likely make a massive move soon. Technically, this move can be up or down. Note that this update is from my premium service originally published on 6 August 2012. Below is a silver chart with the pennant: The technical and fundamental evidence that I have collected, and look at, tells me that the price is likely to go upward out of this pennant formation. On the chart above, you can see that the price has actually broken out (upward) of the pennant. We have to give it […]

Continue Reading

Gold Prices Hit 3-Month High

Gold Prices Hit 3-Month High

Gold Prices rose to their highest level since early May on Wednesday, hitting $1645 per ounce during this morning’s London trading. Silver Prices also gained, rising to $29.70 per ounce – their highest level since early June. By contrast, European stock markets ticked lower, while commodities were broadly flat and US Treasuries gained, ahead of the publication of Federal Reserve policy meeting minutes later today. A day earlier, Gold Prices jumped 1% in less than three hours Tuesday, hitting the top of the trading range that stretches back to May. “The break above resistance from $1624 to $1629 is bullish,” say technical analysts at bullion bank Scotia Mocatta. “This area should now provide some […]

Continue Reading

Euro hopes boost gold and silver prices

Euro hopes boost gold and silver prices

Hopes for a further crisis response by the European Central Bank (ECB) cheered the markets yesterday, with a declining dollar giving support to rallies in commodities and precious metals prices. Though discounted and criticised by the German Bundesbank, the market continues to be optimistic that the ECB will soon act to cap peripheral bond yields. These hopes might in part be attributed to the growing dissent between the Bundesbank and the ECB, as it is looking increasingly likely that the Bundesbank would be left standing when push comes to shove. A clear hint could be seen in the publically voiced support for the ECB’s bond purchases by the German member […]

Continue Reading

Silver price outlook very positive in August 2012

What is the outlook for the silver price in the near future? There is not one single answer on the question, so let’s have a look at the answer from different angles. First, in the light of the most recent evolution, we see the silver price is outperforming the gold price. That’s a logic price movement, but we saw an inverse price evolution during the past months. If the current price movement can hold, it favors a better price evolution of the silver price. Second, the past months were difficult for both gold and silver. “What hasn’t silver done much recently?”  The same question was asked to James Turk from GoldMoney. This is […]

Continue Reading

Gold price breaking out, silver price outperforming, 21 August 2012

Gold price breaking out, silver price outperforming, 21 August 2012

It’s the second day in a row that both the gold price and the silver price in US dollar are surging. They are breaking some of their technical resistance lines, although volume is not very high (typical for the last two weeks of August). The gold price in US dollar is up with 1%, the silver price in US dollar is up with some 2.3%. Spot prices in other currencies were not up today with a similar percentage, probably because prices are already near their all-time highs in most currencies while  dollar gold is some 15% below its nominal high. The interesting fact is that both gold and silver prices are approaching […]

Continue Reading

The Price of Gold Breaks Above $1625 for the first Time in Three Months

The Price of Gold Breaks Above $1625 for the first Time in Three Months

Gold prices hit their highest level today since June 06, as the price surged by almost $20 an ounce. Finally, the price has broken above the key resistance of around $1625 and out of its three-month range. It now looks set to test the $1650 an ounce level, another level of key resistance. As the price of the yellow metal punched through the $1625 an ounce level, buy stops were initiated, fuelling the rally as some traders on the short side were forced out of the market.  While much of the current rally is due to mounting speculation that global central banks are going to be forced to act, many […]

Continue Reading

Dollar Index is losing trendline support – Gold is breaking out

Dollar Index is losing trendline support – Gold is breaking out

The Dollar Index failed to hold the rising trendline support of the triangle on the near term 30 minute chart, see left hand side below.  This trendline was identified early in this past weekend’s update on the Dollar Index. The dominant pattern is still the bullish “Cup with a handle” on the weekly chart.  The Bulls are struggling with the extended neckline support there and failed patterns are very strong signals. The link to this past weekend’s update on the Dollar Index can be found here. Moving on to the precious metals, they are breaking out of chart patterns that were identified in this past weekend’s updates as well. The latest post on silver from last […]

Continue Reading

Prices to Buy Silver Hit 2-Month High

Prices to Buy Silver Hit 2-Month High

Wholesale market prices to Buy Silver hit a two-month high at $29.09 per ounce Tuesday morning in London – 3.5% up on last week’s close – after extending gains from yesterday’s trading. “This changes [silver’s] posture to bullish,” says the latest technical analysis note from bullion bank Scotia Mocatta. “There was congestion in the $28.00 area and this should provide some support, while the next target is the $29.90 high from June.” Dollar Gold Prices meantime climbed to their highest level so far this month this morning, hitting $1626 per ounce. By contrast, the Gold Price in Euros traded lower, falling to €42,069 per kilo (€1308 per ounce), just below last week’s close, as the Euro […]

Continue Reading

Silver – Trade Management

Silver – Trade Management

Brief important update:  Silver had a nice breakout from the pattern that was identified and laid out in this weekend’s update and the details of that post (which don’t include any “Fluff” or “Voo-Doo”) should be reviewed on the link provided below. The break would be more bullish if there was more volume, but these last two weeks of August are typically slow. Drawings for the “Trade Management” have been updated on the 3 month daily chart left hand side below.  Barring a catastrophic gap down, the risk is now quite small with some decent upside potential. These are the types of trades that will be shared in greater detail with my methodology […]

Continue Reading

Stealth Mode Rally in Silver Maybe not so Stealthy Anymore

Stealth Mode Rally in Silver Maybe not so Stealthy Anymore

I remarked last week that silver had been slyly working its way higher in very quiet fashion but was knocking on the door of overhead resistance. Today it broke that resistance and so far is doing it in convincing fashion. Based purely on technical factors, it should try to make a run at $29 where heavier supply awaits. That stands between it and a handle of “30” which will most certainly catch the attention of the momentum crowd. Take a look at the shorter term moving averages (not labelled). These are the 10 day and 20 day respectively. Notice that late last week BOTH MOVING AVERAGES crossed above the longer […]

Continue Reading