RSSCategory: Articles: Gold Silver Prices

Gold spikes on nonfarm payroll disappointment

| September 7, 2012 | Articles: Gold Silver Prices
Gold spikes on nonfarm payroll disappointment

“Draghi Day” yesterday was something of an anti-climax as far as precious metals were concerned: though the European Central Bank is now prepared to buy unlimited amounts of troubled eurozone governments’ short-term debt, these purchases will be “sterilized”. This is similar to what the Fed has been doing with its “Operation Twist” – offsetting new bond purchases with asset sales. So the total euro money supply is not increased by this scheme. What this does do is prop up troubled periphery governments, and help boost inflation in countries like Spain. At the same time, it is offering savers in countries like Germany bonds and/or savings deposits, which exerts a deflationary […]

Continue Reading

Gold Prices Could Move Above $1700 after ECB Meeting

Gold Prices Could Move Above $1700 after ECB Meeting

Gold Prices dipped briefly below $1690 per ounce during Wednesday morning’s London trading, remaining close to six-month highs, while stocks and commodities were also broadly flat, ahead of tomorrow’s policy announcement from the European Central Bank. Silver Prices dipped below $32 per ounce before recovering, ending the morning over 1% up on the week so far. “The next resistance is at $1700,” says the latest technical analysis from bullion bank Scotia Mocatta. Spot market Gold Prices briefly touched that level on Tuesday, following the release of the latest ISM purchasing managers index data. The ISM data show US manufacturing activity contracted in August for the third month in a row, prompting further speculation about […]

Continue Reading

Gold Hits $ 1700 and Eases off a Bit

Gold Hits $ 1700 and Eases off a Bit

Gold bulls managed to push the yellow metal to the psychologically significant $1700 for the first time in months. As can be expected, it could not hold ABOVE the level as selling from both fresh short sellers and some profit taking from longs, surfaced on the first approach to this round number. Gold has a history of pausing around these even or round numbers, retreating, consolidating a bit, and then pushing through and moving to the next resistance level on the charts. It looks to me like the weakness in the gold mining stocks in today’s session, which are feeling spillover from the generally lower stock market, is enabling the […]

Continue Reading

Upswing Continues for Silver and Gold Bullion, ECB Bond Buying Wouldn’t Be Money Creation

Gold Bullion traded above $1690 per ounce Tuesday morning in London, in line with where it started the week, while stocks and commodities were broadly flat and US Treasuries fell, as markets looked ahead to this week’s European Central Bank policy meeting. Silver Bullion rose as high as $32.33 per ounce – 1.9% up on the week so far, and the highest level since April. “Precious metals are continuing their upswing,” says Tuesday’s commodities note from Commerzbank. “Silver has made even stronger gains than gold…underpinned by speculative financial investors.” On the Shanghai Futures Exchange, the most actively traded silver contract hit a record high of 6932 Yuan per kilogram, newswire Reuters reports. […]

Continue Reading

Consequences of Current Global Monetary Policy will be higher Gold and Silver Prices

Consequences of Current Global Monetary Policy will be higher Gold and Silver Prices

Finally, we have a break to the upside in both gold and silver, something that many precious metals investors have been patiently waiting for, but expected to happen. The price of gold is now a tad away from breaching the $1700 an  ounce level, after smashing through the key resistance levels at $1625 an ounce and $1650 an ounce. AsUS Federal Reserve Chairman, Ben Bernanke, began his eagerly awaited speech at the annual symposium at Jackson Hole, Wyoming, the price of gold dropped sharply. After trading above $1660 an ounce last Friday, the price of spot gold suddenly dropped to an intra-day low of $1644 an ounce. Afterwards, the price […]

Continue Reading

The gold price and the exponential growth of our problems

| September 3, 2012 | Articles: Gold Silver Prices
The gold price and the exponential growth of our problems

Two Bloomberg correspondents reported on August 8 that the US Government’s unfunded liabilities rose by $11 trillion last year, “ten times larger than the official deficit”, and are now at an estimated $222 trillion. The authors base their estimates on figures supplied by the Congressional Budget Office. This makes talk about the “fiscal cliff”, as the Bush tax cuts come to an end, a secondary issue. Meanwhile in Germany the Constitutional Court will be told on 12 September that the bailout costs faced by Germany are €2 trillion with a further €1.7 trillion in the pipeline, compared with only €170 billion a year ago. In contrast with these accelerating deficits, the gold price has […]

Continue Reading

Pressure on Central Banks Good for Gold Prices as ECB Urged to Use Bazooka

Pressure on Central Banks Good for Gold Prices as ECB Urged to Use Bazooka

Gold Prices traded just below $1690 per ounce Monday morning in London, close to five month highs hit after Friday’s speech by US Federal Reserve chairman Ben Bernanke, in which he noted the US economic situation is “far from satisfactory”. “Central banks are still hurtling towards more cash-printing,” one Hong Kong dealer told newswire Reuters Monday. “They are under pressure to be doing something actively, which is good for gold.” “Gold has broken through the topside of a large triangle pattern which had resistance at $1655,” adds the latest technical analysis from bullion bank Scotia Mocatta. “The next resistance is the $1790 high from March.” On the gold futures and options […]

Continue Reading

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 […]

Continue Reading

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 […]

Continue Reading

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 […]

Continue Reading

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  

Continue Reading

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 […]

Continue Reading

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 […]

Continue Reading

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 […]

Continue Reading