RSSCategory: Category: Price

Gold Finds a Few Friends near $1300

| September 24, 2013 | Category: Price
Gold Finds a Few Friends near $1300

Technically, market remains range bound between an overhead resistance zone noted on the chart and a support zone beneath the market which extends to psychological support at round number $1300 and to just below that level which is where the market bounced early in the session last Wednesday when the FOMC statement was released. For gold to have a chance at moving higher now, it will need to take out that $1332 level. Whether it is setting up a large range trade between $1375 and $1305 or so remains to be seen. If it is repelled by $1332 – $1330, it will be seen as a strongly bearish reaction. The bulls bought themselves a bit of time today but they have a lot of work to attract some fresh converts to their cause.

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Silver – Not Ready For Prime Time

| September 22, 2013 | Category: Price
Silver – Not Ready For Prime Time

Even we are of the belief and opinion that silver will ultimately go much higher, but the key word is ultimately. For the present tense conditions, that is an unrealistic expectation. From this chart, we know silver is highly unlikely to rally to $100, $200, or $300. Actually, not even $50. Facts keep our beliefs in check and context.

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Gold And Silver – Fed Taper? Never! Never, Never, Ever.

| September 21, 2013 | Category: Price
Gold And Silver – Fed Taper? Never! Never, Never, Ever.

If you want to know why the fundamentals and unprecedented demand for gold and silver has failed to follow the natural law of supply and demand, it is because both have been unnaturally treated by central bankers. The metals are anathema to the issuance of paper fiat, and competition must be eliminated, at all costs.

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Dan Norcini About Today’s Gold & Silver Price Drop

| September 20, 2013 | Category: Price
Dan Norcini About Today’s Gold & Silver Price Drop

In short, we are pretty much back to where we were prior to the FOMC. This morning Fed governor Bullard managed to do what many in the Fed have been doing since May of this year, namely, jawboning the markets and setting them up for another possibility of tapering later this year. What has it been, 2 days since we got that FOMC press release and here we already are talking about starting the Tapering once again. Good grief!

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Today’s Fed Meeting – Stocks, Bonds & Gold Loved It. Dollar Hated It.

| September 18, 2013 | Category: Price
Today’s Fed Meeting – Stocks, Bonds & Gold Loved It. Dollar Hated It.

In regards to gold, it is scooting higher as a large number of shorts were forced out with today’s surprise move by the Fed. It did take out that overhead resistance at $1330 which is a positive and is also now trading above $1350, another resistance level. There is $1360 which I am watching right above where it is currently trading to see how it handles that.

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Today’s Volatility In Metals & Markets Could Amplify With US Fed Meeting

| September 16, 2013 | Category: Price
Today’s Volatility In Metals & Markets Could Amplify With US Fed Meeting

An unexpected and violent move started the trading day and week. Futures of most equity markets jumped more than 1% at the opening of the Asian trading sessions. It appeared “party time” for the markets. Gold and silver started slightly higher. However, as the trading session continued, all markets started moving south.

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Gold And Silver – Do You Prefer Fundamental Tale Or Technical Reality?

| September 15, 2013 | Category: Price
Gold And Silver – Do You Prefer Fundamental Tale Or Technical Reality?

What else is needed to enhance the strong demand side of the market, and one that gets stronger with each passing month? Almost everyone is aware of the disappearing gold act sponsored [in stealth hiding] by the central bankers and abetted by lackey PM exchanges, COMEX and LBMA. Yet, on Thursday into Friday, there was another “take-down” in gold and silver futures. Where is all of this demand that is supposed to take price to elevated heights when it counts?

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Gold & Silver Price Back To 50 Day Moving Average

| September 12, 2013 | Category: Price
Gold & Silver Price Back To 50 Day Moving Average

From a chart point of view, both gold and silver are back at their 50 day moving average, a key technical price point. In August, the precious metals had moved to their 200 day moving average but were not strong enough to hold that level. The odd thing about this price action is that the dollar is showing weakness as well in the last week. On the other hand, oil is holding up very well near a multi-year high.

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Silver – Can $23 Hold? $26 Should.

| September 8, 2013 | Category: Price
Silver – Can $23 Hold? $26 Should.

For now, silver is in a small trading range, and $23 has held. This can change on Monday, if silver were to sell off under $23. We do not know, nor do we have to know. All anyone can do is deal with the available information in the present tense. If new, future market activity alters that view, we get to deal with it then, and respond accordingly.

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Gold And Silver – It Is Always About One Thing: Timing

| September 8, 2013 | Category: Price
Gold And Silver – It Is Always About One Thing: Timing

It is not that the potential for much higher prices is unlikely or the messages are without merit. It is not as though we have not been drinking the same gold/silver Kool-Aid, for we bought gold over $1700 and silver over $45, [physical], and still own it, as well as still buying. No credit here for timing, on that score, although the buying was more than for price sensitivity. It was for the pragmatic purpose of actually having the metals, in hand, no matter where the price was.

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Gold Sentiment Back to Neutral After 6 Months

| September 4, 2013 | Category: Price
Gold Sentiment Back to Neutral After 6 Months

After more than 6 months, sentiment towards gold (and silver) are back to neutral. Since mid February of this year, sentiment has crashed and remained near depressed levels. No surprise it had to do with a downward spiral in the gold price. The gold price is currently moving between its 50 and 200 day moving average.

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Gold – What To Expect in September?

| September 1, 2013 | Category: Price
Gold – What To Expect in September?

There are some opposing forces at work for the short term outlook of gold. One could expect increasing volatility in the precious metals market in the very short run. It seems almost impossible to come up with a reliable prediction.

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Gold And Silver Prices – Market Says 1 to 2 Years Sideways, Not Up

| September 1, 2013 | Category: Price
Gold And Silver Prices – Market Says 1 to 2 Years Sideways, Not Up

In a week of no news relevant to gold and silver, gold slipped under the 1400 level, for some “unknown” reason, while silver just slipped a little. Friday marked the close of the week and month, for charting purposes. Stand-out wide range bars tend to capture market behavior for the next several time periods, so for a Quarterly, it can be a few years. In the 2011 wide range bar, gold traded sideways for 6 more quarters, before being “driven” lower. The 2nd Q bar, second from the end, is almost equal in size to the range that formed the high. Using past history of how price responds, it is likely that gold, [and silver], will move sideways for another year or two. This flies in the face of so many current, mostly expert opinions.

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Is Silver Overbought?

| August 29, 2013 | Category: Price
Is Silver Overbought?

Silver prices are now at an inflection point that could be critical to the future direction of the precious metal. Prices ran into resistance near the 24.80 region which coincides with the highs seen in April of 2013. Support on silver is seen near the 10-day moving average near 23.65. A close below the 10-day moving average would likely lead to a test of the mid-August lows near 22.50. If prices are able to recapture the 25 per ounce level, the next likely test of resistance would be 28 per ounce.

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