Category: Gold & Silver
The analysis published under this category are as follows.
Monday, August 18, 2008
Gold and Silver Extremely Oversold / Commodities / Gold & Silver
By: Mark_OByrne
Gold finished trading in New York on Friday at $ 786.00, down $ 22.30 and silver was down $1.42 cents to $12.81 . Both rallied strongly on the open in Asia but have given up some of their gains in European trading . Gold i s trading at $ 793.00/793.40 per ounce (1230 GMT).Read full article... Read full article...
Sunday, August 17, 2008
Bye Bye to the Precious Metals Bull Market? / Commodities / Gold & Silver
By: Joe_Nicholson
“The face of the coin has been debased as fast as its value. First the faces of gods were on the coins. Then the faces of kings. Then of presidents. Today it's only paper. The miracle is that you can still buy things with it.”~Ian Fleming, From Russia With Love
If the recent meltdown in precious metals took you by surprise, you obviously haven't been reading this update. Since at least late 2007 this update has said the principal risk to precious metals was a dollar rally based on euro weakness. After calling the top in gold in March, targets in the low $800s and lower were immediately published. Since then, precious metals advances have been called a “sucker's rally”, and on June first I went as far as to suggest that gold could be “the short of the year.”
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Sunday, August 17, 2008
How Low Will Gold Go? / Commodities / Gold & Silver
By: Alex_Wallenwein
That's a silly question.
Gold doesn't go anywhere. What "goes" up or down are the dollar figures we have all been trained to attach to it - but we all know, for a fact, how illusory those are.
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Sunday, August 17, 2008
Gold and the Economy: Facts and Theories / Commodities / Gold & Silver
By: Brian_Bloom
When we understand “what” is happening (the facts) then we might have a stab at “why” it is happening (the theories). In turn, this might throw some light on what we might expect to unfold in the foreseeable future.
We live in a cynical world and from a cynical perspective it is noteworthy that all I am reading with regard to the gold price is theories.
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Sunday, August 17, 2008
Gold Breaks Long-term Bull Market Support / Commodities / Gold & Silver
By: Merv_Burak
Well I guess this past week will be remembered for both gold and silver, with silver declining twice as fast as gold. Stocks also took a bounding but they have been taking a bounding for some time now. What next? That's really the $64 question.
GOLD: LONG TERM
Here we are with that long term P&F chart. While surfing the ‘net I came across another analyst who uses a 2 unit reversal P&F chart for gold with $15 units (very rare). This analyst drew the trend line as one would normally draw on the normal bar charts, i.e. touching the lows of major reaction points. Although I have used this method on occasion, and it is a valid method of drawing a P&F trend line, I usually prefer the 45 degree lines for a variety of reasons. However, here is how the trend lines would have looked if drawn touching the lows. Not bad, eh!
Saturday, August 16, 2008
Gold and Silver Crushed by Unwinding US Dollar Shorts / Commodities / Gold & Silver
By: Mike_Shedlock
What's happening with gold should be no real surprise. Although I have stated many times that gold is money and gold should do well in deflation, and we are in deflation (see The Future Is Frugality and Implications of the Slowing Global Economy for the deflation case), in the initial stages of deflation, leverage in everything is reduced by force. There are thousands of hedge funds, pension plans, and individuals over-leveraged in a massive bet against the US dollar and US assets in general. Many themes of the past 7 years are now being unwound. And one would expect leverage to be forced out in deflation as credit simply dries up. I call this the great unwind.
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Saturday, August 16, 2008
US Dollar Seismic Shift Hits Gold / Commodities / Gold & Silver
By: Christopher_Laird
A month or so ago, we told subscribers that the USD appeared to be bottoming. Long term, the USD has big trouble on the horizon, but we mentioned the USD has 9 lives, even though the US is running terrible deficits, trade and fiscal.
The Euro had strengthened so much since 2002, and the USD took such a hit, that gold and commodities became hot sectors that attracted lots of money for years. Right now, we are witnessing a big chunk of that speculator/investor froth coming out of gold and commodities. Oil is still relatively resistant. The perception that the USD can recover in a meaningful way is now out.
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Friday, August 15, 2008
Gold Approaching Short-term Low / Commodities / Gold & Silver
By: Mike_Paulenoff
The hourly pattern argues that in and around the 77.00 area, the downleg in the streetTRACKS Gold Shares (NYSE: GLD) from its 7/15 high "achieved" the look of completion. If that is the case, then in the hours directly ahead the GLD should reverse sharply, fill today's gap-down open at 79.20, and close above the top of the gap to signal that a very significant near-term low has been established. Beyond the gap, the GLD must hurlde and sustain 82.00 to confirm a more substantial upside reversal.Read full article... Read full article...
Friday, August 15, 2008
Precious Metals Bloodbath as Gold Crashes through $800 / Commodities / Gold & Silver
By: Mark_OByrne
Both gold and silver gave back the previous day's gains yesterday on the COMEX. Gold finished trading in New York on Friday at $808.30, down $17.20 and silver was down 58 cents to $14.23. Gold continued to fall in Asian and early European trading and is trading at $782.80/783.40 per ounce (1100 GMT).Read full article... Read full article...
Friday, August 15, 2008
Gold Collapses as Speculators Panic / Commodities / Gold & Silver
By: Adrian_Ash
THE SPOT PRICE OF GOLD sank yet again at the London opening on Friday, falling 2.6% to touch a nine-month low as US crude oil prices dropped 1.3% to trade below $114 per barrel.
Western European stock prices rose meantime in early trade, averaging 0.8% gains despite this week's clear signals of economic recession ahead.
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Thursday, August 14, 2008
British Gold Sovereigns -The Preserve of Collectors, Savers and Smart Investors / Commodities / Gold & Silver
By: Mark_OByrne
Gold as Essential Diversification and Financial Insurance Gold bullion remains an essential diversification and essential financial insurance to have in all properly diversified portfolios. Besides the ever more important factors of inflation hedging and financial insurance, gold is likely to continue to outperform other asset classes and to provide significant returns to gold buyers.
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Thursday, August 14, 2008
Gold Bounces as Euro-zone Slumps towards Recession / Commodities / Gold & Silver
By: Adrian_Ash
THE SPOT PRICE OF PHYSICAL GOLD added to Wednesday's sharp bounce early in Asia and London Thursday morning, nearing the Wall Street open almost 4.4% above the week's low at $836 per ounce.Crude oil traded back above $116 per barrel – up more than $3 from its three-month lows of Tuesday – while base metals also rose sharply.
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Thursday, August 14, 2008
Gold Fell Sharply in Dollars but not in Euros and Pounds / Commodities / Gold & Silver
By: Mark_OByrne
Gold finished trading in New York on Friday at $825.50, up $15.80 and silver was up 37 cents to $14.81. Gold continued to rise in Asian and early European trading and is trading at $831.80/832.40 per ounce (1200 GMT).The much anticipated bounce in gold occurred yesterday and continued overnight as the dollar weakened and oil prices firmed again.
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Wednesday, August 13, 2008
Strong US Dollar Drives Gold Lower / Commodities / Gold & Silver
By: Adrian_Ash
SPOT GOLD PRICES gave back all of a 1.5% rally late-morning in London on Wednesday, dropping below $815 per ounce in thin but frantic trade as the US Dollar continued to rally against pretty much everything.Crude oil ticked back above $113 per barrel – down almost 25% from its top of early July ahead of today's much-anticipated US inventory stockpiles report – while base metals continued to slide.
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Wednesday, August 13, 2008
Gold Oversold at Seasonal Lows / Commodities / Gold & Silver
By: Mark_OByrne
Gold finished trading in New York on Friday at $809.70, down $11.80 and silver was down 3 cents to $14.44. Gold rose in Asian and early European trading and is trading at $821.10/821.60 per ounce (1000 GMT). Gold's recent merciless sell off continued yesterday. But, the dollar's incredible five day surge appeared to come to an end yesterday, with a sell off on Wall Street (on concerns about financials and slowing global growth) stopping it in its tracks.
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Wednesday, August 13, 2008
Gold Extremely Oversold / Commodities / Gold & Silver
By: Ned_W_Schmidt
In most recent Trading Thoughts we reported that the largest purchases of U.S. government debt by foreign official institutions had occurred in the prior week. Initially, reason for those purchases was a mystery. That is, until Russia decided to crush Georgia militarily. Russian army does not move into invasion mode without some prior preparations. Someone knew what was to happen. Massive amount of money flowed, at a $1.4+ trillion annual rate, into U.S. debt in less than a week.Read full article... Read full article...
Tuesday, August 12, 2008
Gold Trying to Make a Bottom / Commodities / Gold & Silver
By: Michael_Swanson
After falling 40 dollars Monday morning and dragging the HUI down 20 points there are some short-term technical signs that gold may be near a bottom of some sorts. First gold finally fell down hard one morning to start to catch up with the steep drop we have seen in gold stocks. Gold also fell down to its 65-week moving average, which has been its long-term support level for the past six years. Read full article... Read full article...
Tuesday, August 12, 2008
Gold Hit by Massive Wave of Stoploss Selling for Record Plunge / Commodities / Gold & Silver
By: Mark_OByrne
Gold finished trading in New York on Friday at $821.50, down $36.00 and silver was down 71 cents to $14.48. Gold continued to fall in Asian and early European trading and is trading at $809.00/809.60 per ounce (1100 GMT).Read full article... Read full article...
Tuesday, August 12, 2008
Gold Bull Market Correction Elliott Wave Analysis / Commodities / Gold & Silver
By: Alistair_Gilbert
Captain Ron has presented his well-reasoned case for Gold for the Bulls today and whilst our long-term viewpoint is the same, I believe that this correction is not over in either TIME or PRICE yet. But correction it is, NOT the end of the Bull market.
In order to determine where we are in the short-term wave count we have to stand back and look at the long-term wave count. Last week I presented the quarterly charts on a number of commodities that to me show quite clearly where we are. Below I show the quarterly DELTA chart on Gold and this time I have put my wave counts on the chart.
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Monday, August 11, 2008
Overbought US Dollar Should Give Gold Price Support / Commodities / Gold & Silver
By: Mark_OByrne
Gold finished trading in New York on Friday at $857.50, down $11.90 and silver was down 92 cents to $15.29. Gold has risen in Asian and early European trading and is trading at $860.10/860.60 per ounce (1230 GMT).Read full article... Read full article...