Category: Gold & Silver
The analysis published under this category are as follows.
Wednesday, September 19, 2007
Gold Price and Stocks Expected to Digest Recent Gains Before Continuing Higher / Commodities / Gold & Silver
By: Mike_Paulenoff
Under "normal" circumstances, the streetTRACKS Gold Shares (NYSE: GLD) should be at or nearing a digestion and/or pullback period. Maybe it can loop up one more time to 72+, but the vast majority of my near-term work is warning me to step aside to allow the GLD to rest and correct. If that proves correct, then I expect a corrective period, or sequence, that traverses a range between 72 and 70, if not down to 69-68 prior to the next upleg.Read full article... Read full article...
Wednesday, September 19, 2007
Why You Should Be A Gold Bull / Commodities / Gold & Silver
By: David_Urban
Just the facts:
- Gold demand in the 2nd Q of 2007 rose 19% YoY to 922 tonnes.
- Gold jewelry demand in the 2 nd Q of 2007 rose 29% YoY to 675.1 tonnes.
- India was the largest consumer of gold in the 2 nd Q of 2007 with 240 tonnes, compared to 166.4 tonnes a year ago.
- Total gold supply for the 2nd Q of 2007 was down 7% YoY at 840 tonnes, down from 902 tonnes.
- Mine output is at a 10 year low.
- Gold margin for futures has been increased.
Wednesday, September 19, 2007
Gold Surges on the Fed 50 Basis Point Interest Rate Cut / Commodities / Gold & Silver
By: Gold_Investments
GoldSpot gold was trading at $723.70/724.20 an ounce as of 1200 GMT. As expected gold surged on the Federal Reserve's quite drastic 50 basis point interest rate cut and 50 basis points discount rate cut. On the decision, spot gold in electronic after hours trading immediately rallied from $715 to $726.90. Subsequently it has traded sideways to slightly down in Asian and European trading.
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Wednesday, September 19, 2007
Gold, Oil & Euros Pushed Higher by Fed's Interest Rate Cut; "US in Deep Trouble" / Commodities / Gold & Silver
By: Adrian_Ash
GOLD PRICES pulled back $2 per ounce in London on Wednesday morning to trade just shy of the new 16-month high hit when the US Federal Reserve slashed Dollar interest rates on Tuesday in a bid to "forestall" recession.Read full article... Read full article...
Tuesday, September 18, 2007
Gold Breaks $721 as the Financial World Waits for the US Fed to Cut Rates / Commodities / Gold & Silver
By: Adrian_Ash
SPOT GOLD PRICES traded flat in Asia on Tuesday before rising into the London open and breaking a new 16-month high above $721 per ounce ahead of today's US session.
"There is no reason to believe the long-term rally has ended," says Christopher Langguth for Mitsui's technical reading of the weekly charts.
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Tuesday, September 18, 2007
Commodity Markets Update - All Eyes on the Feds Interest Rate Decision / Commodities / Gold & Silver
By: Gold_Investments
GoldSpot gold was trading at $720.00/720.50 an ounce as of 1215 GMT. It traded sideways in Asia and has continued to rally in Europe after yesterday's nearly 1% increase.
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Tuesday, September 18, 2007
What Next for Gold? / Commodities / Gold & Silver
By: David_Vaughn
Looks like gold has finally passed the magic 700 an ounce number.
I am sitting at a coffee shop and I look at the counter and notice all the pasties and bread. I think…hmm…the bread of life. And guess what came to my mind. Yes, you guessed it. Gold is the bread and life of the financial world. Gotta have it!
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Tuesday, September 18, 2007
Gold: Is the US Interest Rate Cut Built In? / Commodities / Gold & Silver
By: Bob_Kirtley
The consensus appears to be that the Federal Reserve will announce a rate cut at today's meeting of the FOMC. As gold bugs we expect this action to be negative for the US Dollar and therefore positive for gold, or is it?Read full article... Read full article...
Monday, September 17, 2007
Gold Safehaven as Northern Rock Potential Bust Impacts Financial Markets / Commodities / Gold & Silver
By: Gold_Investments
GoldSpot gold was trading at $710.30/710.80 an ounce as of 1215 GMT after last week's more than 1% price increase.
Gold has risen in Asia and early European trading and safe haven buying on Northern Rock and wider financial market jitters are likely to be supportive of the price despite gold looking slightly overbought in the short term.
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Monday, September 17, 2007
Gold Strong on US Interest Rate Decision, Northern Rock Crash Continues / Commodities / Gold & Silver
By: Adrian_Ash
Gold Trades at 16-Month High Ahead of US Interest Rates Decision, Investment Banking Results, Inflation Data and Northern Rock Bail-Out
GOLD PRICES ROSE throughout the Asian session on Monday, putting the Spot Gold Price above $712 per ounce at the start of London trade – its highest weekly start since May 2006.
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Sunday, September 16, 2007
Gold Top Forming, Bearish Nearterm Outlook - Technically Precious with Merv / Commodities / Gold & Silver
By: Merv_Burak
Well, it's been a good upside run for gold these past few weeks but it is starting to look like a top and possible lower prices ahead.
GOLD PRICES
If one looks carefully one can spot slightly different prices for gold in various media and internet sites, all quoted as prices on the same day. One should remember that gold prices come from different sources. There is the London price. There is the Hong Kong price. There is the Sydney price. But the price I use for my data is the New York Mercantile Exchange price. Even here one has many choices. You could use the “Cash” price or you can use the prices for any one of several futures contract months. I like to use the source that has the most trading activity to obtain the best idea of where the professionals, traders, speculators and the like are operating with their money.
Sunday, September 16, 2007
Gold and Silver Analysis - Precious Points: Old Number 7 / Commodities / Gold & Silver
By: Joe_Nicholson
“The weekly chart in the yellow metal shows a little more room to run as price rockets upward from the 5-week moving average. Though silver closed above the 50-day sma, the vibration around this level suggests it could be retested early next week, with $12.60-12.65 probably providing good support. A positive test would clear the path for $13.00, which should prove formidable.” ~ Precious Points: Sustainable Growth? , September 9, 2007Read full article... Read full article...
Friday, September 14, 2007
Gold Continues to Consolidate After Recent Rally / Commodities / Gold & Silver
By: Gold_Investments
GoldSpot gold was trading at $706.00/706.50 an ounce as of 1215 GMT after yesterday's 0.5% price decrease.
As anticipated, gold has continued to consolidate after its recent price surge. None of the fundamental factors which led to gold's recent price surge have gone away. Oil and the dollar remain near record highs and lows respectively. The U.S. dollar is trading at 79.61 at 1200 GMT and has clearly broken down below massive long term support at 80. It is now in uncharted territory technically and with the FOMC meeting next Tuesday expected to result in a drop of at least 25 basis points, the USD looks likely to remain under serious selling pressure.
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Thursday, September 13, 2007
Gold Bull Market Exploding Higher! / Commodities / Gold & Silver
By: Money_and_Markets
Larry Edelson writes: The spot price of gold has just hit $716. In the futures market, the December contract reached as high as $723.50.
But no matter how you measure it, the precious yellow metal — the ultimate form of money — has blasted through its recent highs … catapulted above the $700 barrier … and is now clearing a path that could take it virtually straight to $1,000 an ounce.
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Thursday, September 13, 2007
Commodity Markets Update - Gold Takes a Breather From Recent Price Surge / Commodities / Gold & Silver
By: Gold_Investments
GoldSpot gold was trading at $706.00/706.50 an ounce as of 1215 GMT after yesterday's 1.5% price increase.
Gold has been taking a well earned breather after its recent price surge. However, given that the dollar remains under serious pressure and oil remains near all time record highs and neither are expected to reverse these trends in any significant way, gold is well supported. With the record oil price, surging wheat price and an increasing realisation that there is a long term structural trend toward higher soft commodity and food prices while economic growth is stagnating, it is obvious that a new form of stagflation is rearing it's ugly head.
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Thursday, September 13, 2007
Gold Warning - Gold's Credit Crunch Dilemma / Commodities / Gold & Silver
By: Brian_Bloom
The following two charts (both 3% X 3 box reversal charts speak louder than words.
The first chart is that of the $XAU. It has given a low pole reversal (bullish) signal, but is still, technically, in a bear trend.
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Thursday, September 13, 2007
Gold Dips to $705 but "Only Needs One Buyer to Start the Race Higher" / Commodities / Gold & Silver
By: Adrian_Ash
SPOT GOLD PRICES slipped to a two-day low in London on Thursday morning, dropping more than $7 per ounce to bounce off $705.20.
"We've seen quite an astonishing move up," said Frederic Panizzutti of the Swiss refinery MKS Finance to Bloomberg earlier. He believes it's led to "several waves" of selling as investors take quick gains.
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Wednesday, September 12, 2007
Macro Musings: Crude Oil and Gold Commodity Milestones / Commodities / Gold & Silver
By: Justice_Litle
I have the ability to imagine configurations of the world different from today, and really believe it can happen.
-- legendary hedge fund manager Bruce Kovner
TODAY WE MUSE on gold, but the discussion begins with oil. (With crude hitting nominal contract highs and the yellow metal besting 16-month highs, it seems appropriate to combine the two.)
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Wednesday, September 12, 2007
Gold Is Breaking Out as It Disconnects from the Stock Markets / Commodities / Gold & Silver
By: Jim_Willie_CB
Four charts speak volumes, with only a few words to serve as captions. Ever since the lousy August Jobs Report came out (doctored to look better than the real situation), the gold picture has experienced a sea change. Gold is breaking out, not yet to new highs, but that is next. The gold price is not moving reasons offered in explanations. Anchors and interviewed guests fall short of adequate assessment. At the same time, denials persist on the huge damage to be doled out by the USDollar decline, as another round of systemic cost inflation will ensue.
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Wednesday, September 12, 2007
Gold Overbought - FOMC Interest Rate Cut Meeting Could Result in Short-term Selling / Commodities / Gold & Silver
By: Ned_W_Schmidt
U.S. trade deficit on goods and services for last month was reported as $59 billion. For another month $59+ billion of green paper was exported by the U.S. During same period central banks reduced their holdings of U.S. debt by $30+ billion. Those values, when taken together, mean that around the world $90 billion of green paper was sold, or not not bought, by central banks. Little wonder U.S. dollar has rediscovered downward path and Gold has risen. Just as business media was proclaiming Gold an unwise investment, the price rose to above US$700. Any interest rate cut in the U.S. will only add encouragement to dollar's demise, and initiate next wave in Gold Super Cycle.Read full article... Read full article...