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Weekly Archives
By: Chris Mullen, Gold Seeker - 5 April, 2007
Gold traded mostly slightly higher in Asia and London before it dipped a dollar to $670.90 shortly after the New York open, but it soon moved back higher on the day and traded $1-$3 higher for the rest of trade before it ended with a gain of 0.25%. Silver dropped to $13.52 in early New York trade before it also traded higher for the rest of trade and end with a gain of 0.89%. Full Story |
By: Jim Willie CB - 5 April, 2007
Some extremely important charts follow, each with an equally important message. The story can be told from a series of painted pictures. The USEconomy is in deep trouble. The US Federal Reserve is caught in a box. Bankers are one step from being snared in a quagmire, with vivid memories of the insolvent bank system endured by Japan for over a full decade. The US bank problems seem worse by comparison, when factoring in mortgages, huge spread trades sure to go bad, a mountain of credit derivatives growing at 80% annually in size, and a raft of collateralized debt obligations sitting like an ominous cloud. Full Story |
By: Neal R. Ryan - 5 April, 2007
Out of the office starting later this afternoon to begin the holidays and hope that everyone has a great vacation. We're going to have a few data points out on Friday that should move markets…on Monday. Markets across the globe except for the Treasury market that has some note auctions on Friday will all be closed. So why's the precious metals market heading higher today on seemingly little bullish news? Full Story |
By: Julian D. W. Phillips, Gold/Silver Forecaster – Global Watch - 5 April, 2007
Many market commentators were caught off-guard by the breakout yesterday, because they looked only at the superficial, but dramatic news stories, usually given the responsibility for making the gold price move. But several types of forces drive the gold price, for instance... Full Story |
By: Charleston Voice - 5 April, 2007
You see, we're not talking prices here, but relative values. We're going on nearly two years now where oil has been depreciating in precious metals terms. How much longer do you think OPEC or any other producer of anything will go on accepting exchange mediums (paper money) that are not rewarding the producers for their loss in natural resources and weakening national security? All paper monies have lost the required characteristic of being a store of value. Full Story |
By: Chintan Karnani, Insignia Consultants - 5 April, 2007
It’s still of a base metals story than a precious metals story as Zinc, the laggard picked up some pace and rose nearly five percent. Full Story |
By: Chris Mullen, Gold Seeker - 4 April, 2007
Gold traded near unchanged in Asia, rose slightly in London, and jumped over $10 higher to about $675 around 9AM EST in New York as Iranian President Mahmoud Ahmadinejad spoke. After initially coming out defiant, Ahmadinejad then announced plans to free the 15 captured British sailors and gold briefly dropped back under $668, but it soon rose back near its high of the session as the dollar fell on poor economic data. Gold topped $674 in afternoon trade before it dipped slightly into the close, but it still ended with a gain of 1.19%. Silver rose over $13.60 before it also dipped slightly into the close, but it still ended with a gain of 1.27%. Full Story |
By: Neal R. Ryan - 4 April, 2007
We've gotten our update on ECB bank sales the past week, and just as we figured, we've seen another week of massive increases in bank reserve gold selling into the market. This past week's additions are roughly 17.5 tonnes of gold into the market. That means that in the last three weeks, 45.5 tonnes of gold have flooded out of ECB banks into the gold market. For a point of reference, the previous three weeks, sales had totaled roughly 7 tonnes total. Full Story |
By: Chintan Karnani, Insignia Consultants - 4 April, 2007
Copper rose over 3.50% yesterday on higher hedge fund demand. Copper, nickel, and other base metals (except zinc) are rising on the back on robust demand and lower global inventories. Full Story |
By: Chris Mullen, Gold Seeker - 3 April, 2007
Gold traded about $1-$3 lower in Asia and London and dropped to as low as $661.70 in early New York trade before it rose for the rest of the morning and found slight gains over $666 heading into afternoon trade, but it then fell off a bit into the close and ended with a loss of 0.21%. Silver dropped to as low as $13.21 before it rose to about $13.45 by late morning, but it also fell off a bit in afternoon trade and ended with a gain of just 0.45%. Full Story |
By: Charleston Voice - 3 April, 2007
30-Year Bond Yields continue to shine to the Upside. Even with today's higher dollar, investors aren't moving to buy the long term US bond debt. Rising MACD bars and a SlowSTO crossover two weeks ago giving us upside direction. A rising wedge will eventually have a breakout either higher or lower, and they tend to break in the direction they had been heading when the wedge began - - and that was up. We have some resistance at the red horizontal line at about 48.79, the swing high from the 4th qtr of 2005. All of this is precious metals bullish. Full Story |
By: Chintan Karnani, Insignia Consultants - 3 April, 2007
Yesterday’s volatility in commodity markets was just a trailer of the things to come in the second quarter. Gold, silver and crude oil fell in Asian, European session and early US session only to pare off all the intra days losses to close flat. Full Story |
By: Chris Mullen, Gold Seeker - 2 April, 2007
Gold traded on either side of unchanged in Asia and London before it fell over 1% to as low as $655.70 by about 10:30AM EST in New York, but it then rallied higher throughout the rest of trade and ended just off its high of the session with a gain of 0.32%. Silver traded mostly slightly higher in Asia and London before it fell over 2% in early morning New York trade and saw 37 cent losses at $12.95 at about 10:30AM EST, but it also rallied higher into the close and ended with a loss of just 0.15%. Full Story |
By: Douglas V. Gnazzo - 2 April, 2007
Gold had a good week rallying up $11.70 to close the week out at $669 (+1.78%). It was the highest daily close of the week and the highest weekly close in 5 weeks. The weekly chart below clearly distinguishes the long term trend line that continues to remain above its 65 week moving average. The rising trend line has support at just under $650.00, while the 65 ema comes in at $604.50. Full Story |
By: Steven Saville, Speculative Investor - 2 April, 2007
The long-term trend for the gold sector is always the opposite of the long-term trend for the broad US stock market. For example, the gold sector was in 'bull mode' during the 1960s and 1970s while the S&P500 was in 'bear mode'. The long-term trends then reversed, with the S&P500 embarking on a bull market that extended through the 1980s and 1990s while the gold sector suffered a 20-year bear market. And then, in 2000, the long-term trends reversed direction again. Full Story |
By: Captain Hook - 2 April, 2007
But, what if inflation efforts fail? Is this what will be necessary for precious metals to take off? Will the panic associated with such a development mark the ‘official turn’ into hyperinflation? The answer to the second and third questions is ‘yes’ in my opinion, where the reasoning behind the logic is found in answering the first. Here, if for some reason prices begin to fall, and threaten a sequence much like that seen in the year 2000 with the unwinding of the tech bubble, while scary at first, until proven otherwise, the educated investor must assume monetary authorities will attempt to stay ahead of the curve. Full Story |
By: Neal R. Ryan - 2 April, 2007
I've copied and pasted my note from last Thursday below in italics because I feel the same principle is applying to the precious metals market today. There is no clear reason with the dollar down, oil prices volatile (but still holding over $65), no resolution to the UK/Iran standoff now going into it's second full week and only bullish news entering the market from a demand standpoint that precious metals should be falling. Full Story |
By: Chintan Karnani, Insignia Consultants - 2 April, 2007
Protectionism and Gold. Full Story |
By: Clive Roffey - 1 April, 2007
The markets have been like my back, they have had good days and not so good ones. There appears to be a large degree of uncertainty in the markets at the moment but frankly I am sticking to my dictum for the past two years that this is a resources orientated market and the rest are in the sidelines. When viewed in this light it all seems simple. We had a big commodities run that has been in a good correction for the past nine months to year. But this correction ended a couple of months ago. In some cases the progress has been ponderous out of the bottom of the correction while bases are built. The gold shares are classic examples. Full Story |
By: Clive Maund - 1 April, 2007
At this point, the chances of it breaking out upside are regarded as significantly higher than the chances of a breakdown, and we are therefore positioned to take advantage of the expected upside breakout. Our strategy is to be committed to the long side in gold and gold stocks and ETF’s and options, but to be ready to exit should gold break below the blue trendline by a significant margin, which at the least would be expected to lead to a prolongation of the consolidation pattern involving a significant intermediate reaction, and at worst would signify completion of a Double Top that would lead to a substantial drop. Full Story |
By: Clive Maund - 1 April, 2007
The silver chart looks considerably less inspiring than the gold chart at this juncture, which is perhaps not so surprising as after outperforming gold last year, it has been underperforming it so far this year. On the 10-year chart the trading range that has followed the ramp from September 2005 through April last year does not look to be of sufficient duration to support another strong advance, and the uptrend channel drawn on this chart looks unsustainably steep and for these reasons the chances of a breakdown are considered to be quite high. Full Story |
By: Julian D. W. Phillips, Gold/Silver Forecaster – Global Watch - 1 April, 2007
The slow liberalization of the gold market is a fact of life albeit slow and not likely to see huge tonnages [like 3,000 tonnes] flow into the country quickly. But in this gold market it doesn’t take huge tonnages to move the gold price. Full Story |
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