Tag: gold price drop

Rational Investors Say Gold Is On Sale

Rational Investors Say Gold Is On Sale

With so much gloom and doom in the media surrounding gold right now, you might wonder why coin sales are soaring at multiyear highs. The reason is pretty simple: Gold is on sale. High net worth individuals and other savvy investors realize that even now, as herds of people are rushing for the exit, owning gold is one of the best ways to manage systemic risk.

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Gold Price Drops 4.4 Pct In Futures Market Today

Gold Price Drops 4.4 Pct In Futures Market Today

The gold price drop is clearly the result of an ultra-bearish sentiment vis-à-vis gold. Meantime, with the ongoing gold price meltdown, gold is trading at its lowest level in more than five years.

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Crude Oil Collapse 2014 vs Gold Price Crash 2013: Spot The Difference

| December 27, 2014 | Category: Price
Crude Oil Collapse 2014 vs Gold Price Crash 2013: Spot The Difference

As long as we are talking about the resemblance of oil’s late-2014 price slide to that of gold back in early 2013, it is also appropriate to once again make the comparison of gold’s current price pattern to what we saw before in the SP500. I showed this previously back on June 26, 2013. Since then, gold has roughly followed the pattern laid down by the SP500, although the correlation has been imperfect. My sense is that if the Fed had not started QE to boost stock prices, we would have seen a better correlation. Still, the recent bottoming action in gold prices in 2014 matches the bottoming action of the SP500 in 2010, in the months following the May 2010 Flash Crash.

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Is There More Downside In The Price Of Gold?

| November 3, 2014 | Category: Price
Is There More Downside In The Price Of Gold?

If the breakdown from the descending triangle pattern is indeed valid, it would point toward an eventual move down equal to the height of the triangle, or around $250-$300 dollars, over the next couple of years. More immediately though, bears will want to see whether previous support at 1180 becomes resistance this week, as well as if the metal can break below its longer-term Fibonacci retracement level at 1155. Meanwhile, a recovery back above 1180 early this week could point to a more extended bounce, though the longer-term bias would still remain to the downside.

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Gold Price Falls Below Support Although Breakdown Confirmation Needed

| November 1, 2014 | Category: Price
Gold Price Falls Below Support Although Breakdown Confirmation Needed

While we anticipated that gold’s decline might end with a triple bottom, that possibility seems remote with Friday’s breakdown. The breakdown will not be decisive until price drops to about 1145, but it now seems unlikely that gold will begin a new bull market any time soon.

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Gold – Contradictory Technical Indicators In Play

| September 7, 2014 | Category: Price
Gold – Contradictory Technical Indicators In Play

Thursday’s sell-off has created a huge bearish engulfing candle on the daily chart of gold, which is obviously not something the bulls would have liked to see. On top of this, gold has broken out of a long-term triangle pattern to the downside following Monday’s sell-off. Both of these development point to lower prices. However, the metal has now reached a key Fibonacci support zone between $1254 and $1262. This is also the location of a Bullish Gartley pattern. So, there is a possibility for a move higher from here.

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Gold Price Biggest Down Day of 2014

Gold Price Biggest Down Day of 2014

The price of gold went through the sharpest price decline of 2014. Although it was usual to see these corrections last year, they have been scarce in 2014. Gold futures in USD close 2.18% lower on the day while silver futures in USD decline 2.24%. The encouraging news for precious metals bulls is that gold and silver declined to the same extent. If silver would lead gold lower, it would have been a bad sign. The hourly price chart shows the waterfall decline of today. The gains built up over 3 weeks have been lost in just one day.

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Gold Coin Demand Exploding In Europe And China On Gold’s Price Lows

Gold Coin Demand Exploding In Europe And China On Gold’s Price Lows

The ultimate test came two weeks ago, when gold touched again the same price level as in June. The gold price jumped quickly higher. The double bottom was not only a powerful technical signal, it was also confirmed in the physical market with another explosion in demand. The Royal Mint in the UK, the US Mint, Perth Mint in Australia and the Shanghai Exchange in China all reported an explosion in physical gold demand.

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Second-Greatest Opportunity To Buy Gold

Second-Greatest Opportunity To Buy Gold

Nick Barisheff writes: While there may still be price declines, I feel today’s situation is similar to that of the 1970s, and that we have the second-greatest opportunity to buy gold since 2002. Today many investors are tempted to sell their underperforming precious metal holdings and use the proceeds to purchase U.S. equities. But remember–the old Wall Street saying is “Buy low, sell high” NOT “Sell low, buy high.”

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Time for Goldbugs to Admit Defeat?

| December 2, 2013 | Category: Price
Time for Goldbugs to Admit Defeat?

Given that all the reasons gold rose from 2001 to 2011 are still in force, I am convinced gold’s current correction is the setup for a second big surge—and, ultimately, a true gold mania of historic proportions.

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As The Currency War Intensifies, Gold Prices fall…but not for Long

As The Currency War Intensifies, Gold Prices fall…but not for Long

This leads me to believe that there will not be any tapering in the short-term and the major central banks, the US Fed, the ECB, the BoJ and the BoE are going to continue with their expansionary monetary policies and thus debase the value of these fiat currencies. Gold prices will continue to be volatile and the sideways action may continue for several more weeks. However, I believe we will see higher prices as we move towards the end of the year.

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Gold Forwards Rate Spells Short Term Pressure On The Gold Price

Gold Forwards Rate Spells Short Term Pressure On The Gold Price

Gold forward rates returned negative again. The shortage appeared to be prominent again, gold prices started to adjust accordingly. I think this pattern continues until either the dollar market is solved (not likely from what I see) or demand for true tail risk insurance rises enough again to overcome this cage.

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The Downturn in the Spot Gold Price

| November 8, 2013 | Category: Price
The Downturn in the Spot Gold Price

Grant Williams, chief investment strategist for Mauldin Economics’ Bull’s Eye Investor, recently published a piece in his weekly newsletter Things That Make You Go Hmmm. At its core, the article gives a different take on the recent downturn in gold markets.

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What Happened To The Gold Price Today?

| October 11, 2013 | Category: Price
What Happened To The Gold Price Today?

It was another one of those days that got gold enthusiasts stunning when looking at the daily gold price chart. Right in between the London AM and PM Fix, at 8h30 EST more precisly, the gold price went some $30 lower in a matter of seconds.

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