Latest Gold & Silver Price News
A Swiss Signal to Buy Gold
Investors were given a major signal to Buy Gold on December 21 2011,writes Porter Stansberry for the Daily Wealth. It was on that day that the European Central Bank (ECB) “loaned” roughly €500 billion to Europe’s major banks at 1% interest. This capital will allow all the big banks to report adequate capital ratios when they file their annual reports…which is code for “getting a huge bailout.” Whatever you want to call it, simply know this: There will not be a deflationary collapse in Europe. The Euro will not collapse in the near term. Instead, Europe will see a gigantic increase in its money supply. When asked by the Financial Times if there […]
Gold is money?! Indians to pay for Iranian oil with gold
Markets enjoyed another “risk on” day yesterday, with stock markets and commodities all recording gains on the back of a weakening US dollar. The Dollar Index fell below 80, with the gold price also benefiting from increasing brinkmanship between Iran and western nations, with the European Union announcing the implementation of an embargo on Iranian crude oil. Comex gold futures for February delivery gained 0.9% to settle at $1,678.30 per troy ounce. Silver for delivery in March gained 1.9% to settle at $32.27 per troy ounce – another solid day for the white metal, though it keeps banging up against selling resistance around $32.50. Greece is once again the topic […]
Dollar’s Influence on Gold
In our previous essays, we emphasized that the long- and short-term trends for gold are up. In today’s article, we will feature the current situation in the USD and Euro Indices and in the general stock market. After analyzing each of them, we will move to implications for the precious metals investors. Let’s start with the analysis of the USD Index (charts courtesy by http://stockcharts.com.) Our first chart this week is the very long-term USD Index chart. We see little change in the situation since last week. There has been no confirmed breakout above the late 2010- early 2011 highs and the long-term trend remains down. In the short-term Euro Index chart, there […]
Fear Index shows that gold is undervalued
The year 2011 ended on a very weak note for the price of gold, which tested support near the lowest levels since August as the precious metal slid below $1,550. This movement even drove the GoldMoney Fear Index below 3% as US M3 continued to rise, surpassing $14.4 Trillion. The downward path of gold since the September highs immediately prompted cries that the “bubble was bursting” from every corner of the financial press. They could not be more wrong. Neither a rising price, nor anecdotal reports of increased buying are in any way proper evidence of a bubble. If we ignore the chatter and actually look at empirical data, it […]
Gold, Gold Mining Stocks and the S&P 500
The Eurozone crisis benefited Gold Prices initially but as the panic has abated, stocks are rallying back to their highs while gold has sold off and Gold Mining stocks are trying to hold their lows. What is going on? asks Jordan Roy-Byrne at The Daily Gold. Are we in the twilight zone? Bull and bear markets are long lasting, providing ample time for trends and counter trends to continually reappear and redevelop. The long-term activity of precious metals and common stocks is not a mystery. Gold has continued to hit all-time highs while the gold stocks eclipsed and maintain 2008 highs as support. Yes, common stocks are also rallying but are nowhere close to seriously testing 2008 […]
Gold Chart and comments
Gold has made it into a formidable resistance level near $1680 which has served to bring out some heavy selling, just as expected seeing that a breach of this defensive line by the bulls will set the market for a run to $1700 and higher. Gold bears can read the charts just as we can and understand what will bring in the momentum buyers if they fail to hold it here. If the recent price advance falters here at this critical zone, then we will see a setback towards $1650 – $1645 initially followed by a bit deeper drop to $1620 or so if the dip buyers are a bit […]
Silver bulls’ confidence growing
In response to the general positive trend at the global markets, the Indian futures markets has recorded significant gains in the silver price. At the Mumbai Multi Commodity Exchange, silver futures for March delivery climbed 1.28% (close to 700 rupees) to 56,260 rupees per kilo. Market observers expect that the Indian silver price will continue to rise as central banks move towards further stimulus measures. Besides silver, gold and most base and non-ferrous metals also recorded gains. During Friday’s session at the New York Comex the gold price climbed $10 to $1,665 per troy ounce. Indian gold and silver prices also recorded gains. Last week market observers were still cautious […]
Silver runs right into a Resistance Zone and then halts
Just as if on clue, Silver bulls came out of the gate bucking high and hard but were unable to throw the bears who have dug in at the exact spot on the chart which says they should. Take a look at this chart which I posted last week and which is still applicable after today’s trading session. Notice how silver shot up throw that “formidable resistance zone” near $32.50 but then faded to close almost right on the line instead of solidly above it. Still, the bears dodged that bullet only by the slimmest of margins as the market put in a strong close to end the session, although […]
Gold price touches 6 weeks high with technically positive outlook
Dollar prices to Buy Gold hit a 6-week high at $1677 per ounce Monday morning, as stocks, commodities and the Euro all pushed higher and US Treasury bond prices fell. “Near term technical have turned more bullish [for gold],” says the latest technical analysis from Scotia Mocatta, though it sees “psychological resistance looming at $1700.” The price of Buying Gold in Euros however fell to €41375 (€1287 per ounce) – down slightly on Friday’s close – as European finance ministers met to discuss Greek debt and a proposal to relax banking rules. The difference between long contracts to Buy Gold and short contracts held by noncommercial Gold Futures and options traders on New York’s Comex exchange – the […]
The Great Silver Market Myth
Find out what would happen if everyone in the globe would own just a little bit of physical silver ! Credits to David Morgan from Morgan Report (www.silver-investor.com)
Gold-Stock Upleg Cycles
No bull market, no matter how powerful, fundamentally strong, or long-lived, rises in a nice linear fashion. They all flow and ebb, surging forward two steps in major uplegs before retreating back one step in major corrections. Visualize a sine wave oscillating within a rising trend. This seemingly-capricious behavior is actually very beneficial to bulls’ health and longevity, it keeps sentiment (greed and fear) balanced. And unsurprisingly gold stocks, with their extraordinary volatility, are no exception to this ironclad bull-market rule. Gold stocks’ amazing bull market has advanced in fits and starts. This technical price action is driven purely by sentiment, the same dynamic that affects every popular market. And […]
