Gold Prices Today – Intraday, This Week, This Month, And Longer Term
Our Latest Gold Price News, Analysis, Commentaries
Although gold and silver had one of their worst days of the year. Overall the technical damage is limited. However, the fact that silver and the miners declined much sharper than gold is not a good sign. The short term picture for the precious metals complex is mixed with a positive bias.
Gold futures were under pressure throughout the session as safe haven and physical demand continue to ebb. With stock indices showing no signs of retreating and consistently posting new all-time highs, safe demand for both Gold and Silver erodes.
Despite some global disruptions over the last few weeks, gold has not been able to break out and this could signal underlying weakness. In addition to ongoing tensions in Iraq and Syria, the markets had to deal with a passenger airliner being shot down and an invasion of the Gaza strip. Such news should be positive for gold, but gold did not react much and failed to breakout at 1350-1370. This is the technical picture for both precious metals.
Gold mining stocks are doing better than the commodity itself. Since the start of 2014, the GDX has gained 27% versus a 9% gain in bullion. The rising GDX/gold ratio has exceeded its spring high to reach the highest level in ten months. That tells us two things. First, that miners are a stronger bet than the commodity. Second, it’s a good sign for bullion itself. That’s because gold usually does better when miners are leading it higher.
The seemingly never-ending mosaic of events have yet to coalesce into one that has a more definitive direction that will ultimately drive gold and silver higher. We are now in the second half of 2014, and our conjecture that 2014 may be a repeat of 2013 is still in play. In weekly gold, the lower of two protracted trading ranges, persists with no clear sign of a breakout. This week, we show the extent of price rally and time, viewing each swing up and down.
Our Selection of Longer Term Gold Price Charts
We spend quite some time and effort analyzing the gold price, both on the short term and on the long term. The result is a wealth of information and analysis in the form of articles (analysis, market views and commentaries). Below is a selection of the 5 most valuable long term gold price analysis, containing many gold price charts:
Mind that gold is primarily a monetary metal, although it has also characteristics of commodities. So when analyzing the gold price charts, please make sure to also look at the more fundamental aspects of gold. An economic assessment, as well as an in-depth analysis of the monetary environment, are key. By doing so, one could find for instance a huge disconnect in gold being an investable commodity versus gold being a hedge against monetary, particularly after the gold price drop in 2013.