RSSCategory: Articles: Gold Silver Prices

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 […]

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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 […]

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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 […]

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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 […]

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Political Factors to Drive Gold Bullion Market

Political Factors to Drive Gold Bullion Market

Gold Bullion fell back below $1615 per ounce during Monday morning’s London trading, the level at which it closed last week. “The 11 week moving average comes in at $1601,” say technical analysts at bullion bank Scotia Mocatta, pointing out that gold has now ended the week above that level for four weeks in a row. Silver Bullion meantime failed to hold on to gains from Monday’s Asian trading, falling back towards last week’s close at $28.10 per ounce this morning in London. Other commodities were broadly flat, with copper losing some ground, while European stock markets edged higher, with the exception of the FTSE in London, which was slightly down by […]

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Weekend Update – Gold & Silver – August 19, 2012

Weekend Update – Gold & Silver – August 19, 2012

Weekend update – Gold $1,620 is still a key reference area in the near term, but the “triangle” pattern on the one hour chart (see left hand side below) inside the triangle pattern on the daily chart (see right hand side below) is what is most important to me at this time from my perspective.  The triangles are showing a battle of increasing demand and steady supply. I don’t see gold staying in a “range” or “noise” for long, and the “vertical development” afterward is what I mostly want to be involved in as a trader. There are still other major key reference areas to keep an eye on in the intermediate-long term in my opinion.  The major trendlines of the “Descending […]

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Many Factors are conspiring to create the Perfect Scenario for Gold Prices to go Much Higher

The latest economic data released this morning showed slightly better than expected GDP data from France and Germany. French GDP growth came in flat which was better than expectations of a contraction of 0.1% quarter-on-quarter. And, Germany, Europe’s biggest economy grew by 0.3% between April and July, compared to analysts’ forecasts of 0.1% mainly due to its strong exports. However, overall Eurozone GDP data for the second quarter shrank by 0.2%. Meanwhile the latest GDP figures from Japan were weaker-than-expected. Japan Q2 GDP increased by only 0.3% quarter-on-quarter which was below expectations of an increase of 0.6%. And, the Greek economy, struggling in a fifth year of recession, shrank by […]

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Silver Quietly Sneaking Higher

Silver Quietly Sneaking Higher

Silver has managed to rally right to the top of its consolidation pattern without any fanfare and I should add, the participation of a great deal of managed money flows. In other words, without the benefit of the momentum crowd. Call it a type of stealth rally. I find this very interesting as it is occuring against the backdrop of rising Treasury yields and a rising equity market. Clearly, for whatever the reason, something seems to be occurring on this inflation front that is moving below the radar screen of many investors. Could silver be sniffing out the first whiff of an inflation play? Take a look at the following […]

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Gold Bullion Boosted by Central Bank Hopes

Gold Bullion Boosted by Central Bank Hopes

Gold Bullion prices hovered just below $1620 per ounce during Friday morning’s London trading, very slightly below where they ended last week, while stock markets also gained, amid renewed speculation over central bank stimulus measures. Silver Bullion traded around $28.30 per ounce, slightly up on where it started the week, while other commodities were also broadly flat. The volume of Gold Bullion held by the world’s biggest Gold ETF, the SPDR Gold Trust (GLD), rose to a one-month high of 1263.6 tonnes Thursday, a day which saw gold continue its recovery from Wednesday’s lows. “Hopes that central banks will launch more bullion-friendly stimulus measures boosted the yellow metal [on Thursday],” says a note from Swiss refiner […]

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Gold price of $ 10,000: Is it possible or not?

Nick Barisheff, author of the book “$10,000 Gold: The Inevitable Rise and the Investor’s Safe Haven” which will be released in the fall of this year, believes a gold price of $ 10,000 will be achieved in the coming 5 years. Nick Barisheff is the founder, president and CEO of Bullion Management Group, one of the world’s fast-growing precious metals bullion management companies, based in Toronto. Click here to read the preface of Nick Barisheff’s new book or to pre-order. During a recent TV appearance on Fox Business, he explained what the main reasoning is behind the $ 10,000 gold price. The basic reason that the price of gold goes up, is that […]

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Gold and the Middle East crisis

Gold and the Middle East crisis

The year 2012 has been relatively peaceful compared with the past 10 years.  The lack of military aggression on the part of the U.S. has led many to believe that the America’s days of military adventures are over.  But as we’ll see here, 2012 is simply a temporary respite in a longer-term “theater” of war that has only just passed the opening act. The past decade has indeed been one of near constant strife and turmoil.  Starting with 9/11 and the U.S.-led NATO invasion of Afghanistan, and later Iraq, the 10 years between 2001 and 2011 were characterized by ceaseless warfare.  The military invasions in the Middle East have been followed by civil and […]

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Look For The Silver Lining: Silver Swan Ready For Takeoff

Look For The Silver Lining: Silver Swan Ready For Takeoff

An old melody advises us to look for the silver lining whenever dark clouds appear in the blue.  There is economic and political upheaval all over the world, especially in the South China Seas.  This may directly affect the world’s supply of industrial metals such as graphite, rare earths, molybdenum and tungsten. Today we direct our attention to an area where silver is shining.  Poor man’s gold may come into prominence shortly and provide our subscribers with possible profits. The silver battlefield is filled with bulls and bears fighting for dominance.  Recently, the poor man’s gold has dropped to the $26 area.  The struggle continues between the opposing sides.  The […]

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In What Direction Will the Stock Market Head and How Could It Influence Gold and Silver?

In What Direction Will the Stock Market Head and How Could It Influence Gold and Silver?

People put too much store in central bankers and hang on their every word as if they are prophets with a direct line to the divine. It seems that no one does this more than gold investors. In the past gold has shown itself to be super sensitive to monetary policy announcements and investors hope that any indication of further easing would give gold a joy ride. We have had enough evidence that central bankers are no super heroes able to leap tall buildings at a single bound and save the economy. There are plenty who contend that if the Fed had not stimulated the economy with zero percent interest […]

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Gold Prices Need Big Bang to Rouse Quiet Market

Gold Prices Need Big Bang to Rouse Quiet Market

Gold Prices hovered above $1610 per ounce Tuesday morning in London, slightly below where they started the week, while European markets edged higher following news of better-than-expected German economic growth. Silver Prices briefly rallied back above $28 per ounce before retreating, while other commodities were similarly flat on the day. “Despite wide daily ranges for the past few weeks due to thin liquidity, the [gold] market remains pretty quiet,” says a note from Swiss bullion refiner MKS. A day earlier, Gold Prices fell 1% as the Euro edged lower towards the end of Monday’s trading, after news of a second legal challenge to the creation of the Eurozone’s €500 billion permanent bailout fund the European […]

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