By: Chris Mullen, Gold Seeker - 15 September, 2006
Gold fell near $572 in early Asian trade before it rebounded a bit and held close to $577 in London, but it then fell back under $572 in midmorning New York trade ahead of a rally into the close that produced small gains near the close until it fell back off in the last minutes of trade and ended slightly lower. Silver traded mostly slightly lower in Asia and London and fell to under $10.50 in midmorning New York trade, but it also rallied in late trade to find decent gains before it was hit at the close and ended slightly lower. Full Story
Typically, within a bottoming process, major oversold extremes will be hit first, and then followed by a sizeable trading rally which lifts prices off the low. Importantly, this is then often followed with a retest decline, either a partial or full retest decline, of the prior low. It is on the second “retest” decline that the kind of positive divergences show up to indicate a market about to chance direction in earnest. In our opinion, we continue to expect that this process in the Gold Stocks will take between 10 to 15 days. That said, here’s an update on where the indicators closed today with (intentionally) a lot of charts for those of you who like to review the many gauges we follow. Full Story
By: Adam Hamilton, Zeal Intelligence - 15 September, 2006
So far in September, blood has been gushing in great torrents from many major commodities. As of this past Tuesday, gold had bled 6.0%, silver 14.1%, and crude oil 9.3% in just the first seven trading days in this month alone. Naturally with prices spiraling relentlessly lower, commodities sentiment fell off a cliff and cratered. Full Story
By: Julian D. W. Phillips, Gold Forecaster – Global Watch - 15 September, 2006
A most frustrating fact about Central Banks is that they are bureaucracies, so the concept of sharp, 'finger-on-the-pulse' dealing is just not the way they work. The senior people make the decision, and then send it down the line to the dealing department, accompanied by a rough schedule. The dealing staff then acts irrespective of the price when implementing these instructions. It would take an instruction from upstairs to change that. Full Story
Last week it seems my “Bond Market Has It Right” stirred up a little hornet nest under my doorstep. Ok by me, since most feedback was in agreement and positive. One cannot look at price inflation in aggregate terms. Rising prices show up on the cost side pervasively, to make for an economic tax, understood conceptually for oil but apparently not for producer prices generally. We recognize wages have failed to keep pace with phony reported economic growth. We easily conclude that job growth is dismal, whereas my contention is outright job loss occurs in current months. Full Story
By: Rick Ackerman, Rick's Picks - 15 September, 2006
Here’s some trading-floor wisdom that could suit us well as we continue to fish for a bottom in gold: When attempting to catch a falling piano, one should always wait until it has bounced three times. Or so the saying goes. Yesterday, however, we through caution to the wind, opening our arms and casting our eyes skyward as that Steinway of the bullion sector, Newmont Mining, came a-plummeting once again. Shares of the world’s largest gold producer have fallen nearly 20 percent in a little more than a week, but there was reason to believe that any significant, further decline yesterday would bring it to a Hidden Pivot support with the potential to turn the tide. Full Story
Momentum studies are declining, but have fallen to oversold levels. The market's close below the 9-day moving average is an indication the short-term trend remains negative. The close below the 1st swing support could weigh on the market. The next downside objective is now at 572.8. With a reading under 30, the 9-day RSI is approaching oversold levels. The next area of resistance is around 594.1 and 605.3, while 1st support hits today at 577.9 and below there at 572.8. Full Story
By: Chris Mullen, Gold Seeker - 14 September, 2006
Gold traded near unchanged in Asia before it rose over $5 to about $595 in London, but it then fell off throughout trade in New York and ended near its lows with a loss of 1.63%. Silver rose about 20 cents near $11.35 by the end of trade in London, but it also dramatically fell off in New York and ended near its lows with a loss of 2.62%. Full Story
This week’s special report may help answer many of the emails I received these past few days regarding the sell off in the gold sector. Many were caught and totally surprised by the plunge, after all, September is supposed to be seasonally favorable to gold. Full Story
To hear the news media talk the death of the real estate bull market is a foregone conclusion. There is, after all, a near unanimity among news publications of all stripes – including those that are known as being permanently bullish on stocks and real estate – that the real estate bubble is in the process of deflating with no hope of a comeback in the foreseeable future. Full Story
Momentum studies are declining, but have fallen to oversold levels. The close below the 9-day moving average is a negative short-term indicator for trend. The daily closing price reversal up is a positive indicator that could support higher prices. With the close higher than the pivot swing number, the market is in a slightly bullish posture. The next downside objective is now at 585.3. Some caution in pressing the downside is warranted with the RSI under 30. The next area of resistance is around 601.5 and 606.2, while 1st support hits today at 591.1 and below there at 585.3. Full Story
Silver managed to hold on to the 200 day MA of $1088 while gold is trading near the 200 day MA of $590.00. There current rise in gold and silver is technical bounce and if they are able to hold onto to the same, we could be nearing a bottom for the rest of 2006. Full Story
By: Chris Mullen, Gold Seeker - 13 September, 2006
Gold fell to under $580 in Asia, rebounded to about $585 in London, and then rose to over $592 in early New York trade before it fell back to about $585, but it then rose into the close and ended with a 0.24% gain. Silver fell under $10.90 in Asia, rebounded to about $11.00 in London, and rose to over $11.20 in early New York trade before it fell back to about $11.00, but it then rose into the close and ended with a 0.55% gain. Full Story
By: Sol Palha, Tactical Investor - 13 September, 2006
The first chart is a roughly a 20 year chart of Uranium and we can clearly see that this market is in a super bullish phase. The current prices are setting new records almost on a daily basis; the second chart quite clearly illustrates this. As we speak more and more nations are embracing nuclear energy and current demand for uranium is 50% higher then the current supply; imagine what could happen in the years to come when all those new nuclear power plants come online. Full Story
We believe that commodity prices are in a secular bull market. There will be corrections along the way, but we have many years to go before this thing is over. We expect commodity prices could be substantially higher once this bull market has finally run its course. Full Story
In case you’ve missed it, the gold price crashed by almost $60 in less than three trading sessions thereby cutting through multiple support levels like a knife through butter.. Sure enough it scared the hell out of many gold investors and many questions came my way of what to do next.. Many gold advisors are declaring the bull market now for dead referring to the broken 5 year uptrend in the CRB index.. To the market players gearing themselves up for shorting the gold market these days at current levels I would say ‘good luck’, not me! Why not? Simple, shorting could be a prudent thing to do at severe overbought levels, not at current oversold levels. In contrary, we’re approaching here a major buy opportunity. Full Story
The Aussie Real Estate (RE) market has been the Global leader since 2000. That is, it was the first to really accelerate higher, the first to stagnate and the first to fall (albeit marginally). What with RE a HOT topic in the US right now, it would be appropriate to give an update on the Aussie Residential RE market in anticipation that what happens there ultimately happens in the US. Full Story
While I’m now in my 23rd year in the financial arena, I have never seen such a discrepancy between what I perceive the future holds versus how the majority of Americans are living their lives and are seemingly unprepared for it. I don’t consider myself a pessimist but a realist. I believe America as we knew it just a couple of decades ago, has ceased to exist—only it’s politically incorrect to even suggest that. Full Story
Daily stochastics are trending lower but have declined into oversold territory. A negative signal for trend short-term was given on a close under the 9-bar moving average. The market tilt is slightly negative with the close under the pivot. The next downside objective is 587.2. The market is approaching oversold levels on an RSI reading under 30. The next area of resistance is around 598.8 and 605.1, while 1st support hits today at 589.8 and below there at 587.2. Full Story
By: Chris Mullen, Gold Seeker - 12 September, 2006
Gold initially fell close to $584 in Asia before it rose near $600 and remained above $595 in London, but it then steadily fell off in New York and ended near its lows with a 0.52% loss on the day. Silver rose above $11.35 in Asia and London, but it also fell off in New York and ended near its lows with a loss of 0.72%. Full Story
Meanwhile industry consolidation continues at a steady pace in both the oil/gas exploration and gold/silver mining sectors. It has long been my contention that one of the major reasons for long-term bull markets being engineered is to allow the sectors or industries in question the economics to leverage buyouts, mergers and acquisitions. This has always been true of the great bull markets of the past 150 years, to wit, greater consolidation within an industry. We’ve certainly seen this transpire in recent years with a greater number of mergers within both industries as the bigger companies gobble up the smaller ones and shrink the field of competitors. Full Story
Due to the recent fall of gold and silver, and the precious metal stocks, we thought we would attempt to offer whatever assurances we can, knowing there are many an investor shaken by the recent downside action. Full Story
In a holiday-shortened Labor Day week, the concentrated short sellers attacked gold and silver with a vengeance. Gold broke out earlier in the week, only to collapse in price on Thursday, Friday and today, Monday. Silver lost almost two dollars in three days. Since it is crystal clear to me what transpired, I’d like to explain what I think occurred. Full Story
Daily stochastics are trending lower but have declined into oversold territory. The market's short-term trend is negative as the close remains below the 9-day moving average. The gap lower price action on the day session chart is a bearish indicator for trend. The market is in a bearish position with the close below the 2nd swing support number. The next downside target is 581.9. Some caution in pressing the downside is warranted with the RSI under 30. The next area of resistance is around 604.9 and 612.6, while 1st support hits today at 589.6 and below there at 581.9. Full Story
By: Chris Mullen, Gold Seeker - 11 September, 2006
Gold fell about $15 in Asia and held around $595 in London before it fell further in morning New York trade to as low as $582.40 at one point, but it then rebounded a bit into the close and ended with a loss of 3.13%. Silver fell about 40 cents to around $11.75 in Asia and London before it fell even further in New York and ended near its lows with a loss of 8.66%. Full Story
In the case of gold, the metal is not consumed and large above ground holdings of gold exist. Thus there is generally plenty of above ground gold supply in normal circumstances to meet any exceptional demand. One should place an emphasis on “normal circumstances” because people who generally buy and hold gold do so because they understand the concept that it is the ultimate store of wealth and that gold provides protection against the inevitable demise of our existing world wide fiat currency system. Full Story
A bearish signal was triggered on a crossover down in the daily stochastics. Momentum studies trending lower at mid-range could accelerate a price break if support levels are broken. The market's short-term trend is negative as the close remains below the 9-day moving average. The market tilt is slightly negative with the close under the pivot. The next downside objective is 608.6. The next area of resistance is around 621.8 and 626.7, while 1st support hits today at 612.8 and below there at 608.6. Full Story
Listening to the popular business media the past few years has been the equivalent of watching a test pattern, always same picture and of little value. A continuous stream of Street gurus have repeatedly offered up the same useless advice. Investors should continue buying technology and financial stocks. That the housing bubble might unwind in a painful matter was deemed to be total fantasy. Gold was, in their view, a ridiculous idea. For nine years this advice has been garbage, and the time has clearly arrived for investors to ignore these ideas. Facts are facts as the first graph shows. Full Story
On September 03 we send out an alert to our members suggesting the HUI could be on the verge of a major break-out since its 353 resistance level was being challenged for the 4th time. On September 06 the HUI slashed the 353 with ease indeed and rocketed all the way up to 369. Unfortunately the HUI break-out couldn’t be confirmed by gold and down we went thereby classifying the HUI break-out as a false one. So were to go from here? What can we expect and what should be watched closely coming days/weeks? Full Story
The current situation in the gold sector is very similar to the events during April 2004 and should be watched closely. The most dangerous time in trading is when a breakout fails to follow thru, thus resulting in a sharp breakdown. Is this one of those times? You make the call. Full Story
By: Roland Watson, New Era Investor - 10 September, 2006
To summarise, the article compared geological reserves estimates between 1970 and 2005 and showed that the 1970 estimates proved to be woefully short. Nevertheless, it was my conclusion that an equal leap of 35 years to 2040 would in no wise have us making the same conclusion about 2005 reserve estimates. The reserve growth we saw during the last three decades will not happen in the years ahead. Rather it was my contention that declines in gold mine production would be the rule rather than the exception for the future. Full Story
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