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Weekly Archives
By: Chris Mullen, Gold Seeker - 23 February, 2007
Gold fell over $5 in access trade late yesterday before it steadily rebounded higher in Asia and London and came into New York just slightly lower at $677.80. It then gained over $10 to about $688 before it fell back off into the close a bit, but it still ended with a gain of 0.54%. Silver traded mostly slightly higher in Asia and London and outpaced gold’s gains in New York as it rose past $14.50 by mid morning, remained near its highs into the close, and ended with a gain of 1.90%. Full Story |
By: GoldSeek.com - 23 February, 2007
COT Gold Report - February 23, 2007 Full Story |
By: SilverSeek.com - 23 February, 2007
COT Silver Report - February 23, 2007 Full Story |
By: David Chapman, Union Securities - 23 February, 2007
It has been a while since the last Technical Scoop. But we suppose that is what happens when watching one of the most meandering markets we have ever witnessed. It is almost as if it wants to put you to sleep. The Dow Jones Industrials has trudged almost daily to new all-time highs, but instead of excitement we fight to stifle a yawn. The DJI is up roughly 2.6 per cent on the year and that is about as exciting as it gets. The TSX Composite has fared little better: up 3.2 per cent despite also hitting new all-time highs. Full Story |
By: Adam Hamilton, Zeal Intelligence LLC - 23 February, 2007
As a markets junkie, the worst days for me are the market holidays cropping up all over the place lately. Having a big down day and losing money is no big deal, just part of the game. I like upside and downside volatility equally, the action is exciting either way. But when the financial markets are closed for some goofy “holy day”, I find myself depressed without my action fix. Full Story |
By: Julian D. W. Phillips, Gold/Silver Forecaster – Global Watch - 23 February, 2007
In an almost unnoticed move in the market a dramatic event took place in January of this year. We have long talked of the easy way for a Central Bank to accumulate gold reserves unobtrusively. Usually we have pointed to Russia and China when this is discussed as they are the two nations that have expressed major concerns about the future of the $ and who are producers of gold. Should they decide to acquire gold for their reserves in earnest, the first move they are likely to make is to buy the locally mined gold. Full Story |
By: Jim Willie CB - 23 February, 2007
Numerous international events took place within the last month. The Economic Summit was held in Davos Switzerland. It convened a large collection of world renown economists, corporate chieftains, and some financial market kingpins. The G8 Meeting of finance ministers was held in Germany. Back home, USFed Chairman Bernanke issued a grave warning to the US Congress on the shattered US financial balance sheets. My commentary on money supply explosion comes next. Lastly, the Chinese trade disputes have taken a big step toward outright trade war and protectionism. Few see how the trade war will affect gold yet. They will soon enough. Restricted trade flow always results in higher prices. It is always accompanied by a scramble for resources in today’s context. This trade war will include a massive bidding war and staggering battles to build stockpiles of all critical commodities. Full Story |
By: Eric Hommelberg - 23 February, 2007
It sure has been a roller coaster ride the past several days for gold and its shares…Gold down sharply on declining inflation worries, gold up sharply on rising inflation worries, well, the mainstream gold coverage has become a joke lately. Please forget about rising oil prices and increasing inflation worries (sure enough they will add some fuel to the fire), the thing is that physical demand for gold over powers the ability for those entities wanting to keep a lid on the price of gold. Full Story |
By: Clif Droke - 23 February, 2007
The AMEX Gold Bugs Index (HUI) closed 0.50% higher on Thursday, Feb. 22, to finish the day at 356.34 while the XAU was 0.16% higher at 146.05. The spot gold index closed at $379 while spot silver closed Thursday at $14.22. Full Story |
By: Chintan Karnani, Insignia Consultants - 23 February, 2007
Gold and silver fell on profit taking even as crude oil floats over $60.00 a barrel. There is still some nervousness over gold’s 2007 fifteen percent rise and traders are booking profits at higher levels. Full Story |
By: Chris Mullen, Gold Seeker - 22 February, 2007
Gold fell slightly in Asia, rebounded to about unchanged in London, fell back to $675.40 in midmorning New York trade, rallied back above $680 in early afternoon trade, fell off just slightly into the close, and ended with a small loss of 0.04%. Silver fell to $14.11 before it rallied to above $14.30, but it also fell off a bit into the close and ended with a loss of 0.28%. Full Story |
By: Jason Hommel - 22 February, 2007
Today, gold moved up by $23/oz., and was up by about 3.5% in nearly all currencies. Does this mean that now is a risky time to buy gold? Well, I think you have to look at the potential upside gains verses the downside risk. Full Story |
By: Roland Watson, The Silver Analyst - 22 February, 2007
As we anticipate the next and final leg of phase I of the precious metals bull market, investors need to be ready with their exit strategies if they wish to unload all or part of their assets in a profitable manner. Full Story |
By: Chintan Karnani, Insignia Consultants - 22 February, 2007
The carry trade effect on gold and silver. Full Story |
By: Peter Degraaf - 22 February, 2007
Gold and silver closed at 9 month highs today, fueled by a government C.P.I. report that indicated price inflation in January was higher than anticipated. Gold had already moved above resistance at 660.00 a few weeks ago, but silver kept bumping up against resistance at 14.00. Today the silver price closed firmly above 14.00. The next target is 16.00 and it will likely be achieved soon. For gold the next target is the May 2006 highs at 725.00. Full Story |
By: Rick Ackerman, Rick's Picks - 22 February, 2007
Bullion’s explosive move yesterday was attributed to a few factors, including short-covering, but the bottom line is that bullion futures appear primed to blow the supposed $700 barrier to smithereens. That would be nicely in line with our recent forecast, which was given here earlier in the week as follows: “There is granite resistance just above, at the confluence of two important Hidden Pivots, 680.60 and 682.00. If the futures jackhammer their way past those numbers, we can confidently infer that they are about to trash the psychologically important $700 barrier with equal aplomb, turning it from resistance into incipient support in mere days.” Full Story |
By: Chris Mullen, Gold Seeker - 21 February, 2007
Gold traded mostly slightly higher in Asia and London before it dipped slightly in early New York trade to $656.50, but it then climbed above $660 in midmorning trade and began to accelerate its gains at about 11AM EST. Gold surged higher for most of the rest of trade and briefly topped $682 at one point before it dropped a bit off its highs in the last minutes of trade, but it still ended with an impressive gain of 3.35%. Silver dropped to $13.68 before it also rallied higher for most of the rest of trade and ended near its highs with a gain of 3.26%. Full Story |
By: Clive Maund - 21 February, 2007
Some people thought I was mad posting a GOLD and SILVER BREAKOUT ALERT on www.clivemaund.com on the 19th, what with the Commercials being so heavily short gold, and with yesterday’s action I began to wonder myself, which is why it didn’t get posted on public websites on the 20th as originally planned. The reason for posting that breakout alert was that a rare technical setup exists that actually makes the Commercials’ huge short position wildly bullish. Full Story |
By: Bryant Blake - 21 February, 2007
I have compiled a data table for the world’s 20 largest undeveloped silver mines. The list of these mines was obtained from a corporate presentation by Mines Management http://gold.seekingalpha.com/article/23676. The Mines Management list gave the top 20 mines but did not supply relevant data such as reserves, resources, annual production, ore grade, or estimated start up dates. Full Story |
By: Gary Dorsch – Editor, Global Money Trends Magazine - 21 February, 2007
“There is a bubble growing. Investors should be concerned about the risks,” said Cheng Siwei, vice-chairman of China’s National People’s Congress in a January 31st interview with the Financial Times. “But in a bull market, people will invest relatively irrationally. Every investor thinks they can win. But many will end up losing. But that is their risk and their choice,” Cheng warned. Full Story |
By: Peter Grandich - 21 February, 2007
While the Chinese celebrate the year of the pig, the “Don’t Worry, Be Happy” crowd on Wall Street are fattening up their piglets with “Goldilocks “economic forecasts despite storm clouds on the horizon. TOUT-TV (CNBC-TV) continues to do its part in getting the piglets ready for the trip to the slaughterhouse even though the announced new FOX Business Channel may become reality in time to save some from becoming bacon. Full Story |
By: Rick Ackerman, Rick's Picks - 21 February, 2007
We gave an all-clear signal for April Gold yesterday, only to see the futures reverse direction and go into a kamikaze dive after having touched a bullish tripwire the previous day. The tripwire was in fact a Hidden Pivot rally target at 676.80, and a short-term top there had been predicted when the futures were trading $14 lower. Sure enough, on Valentine’s Day, the April contract came within two ticks of our target, touching $676.60. This gave us reason to expect a pause for a few days, then a bullish lunge toward an even more important Hidden Pivot obstacle -- a pair of them, actually, at, respectively, 680.60 and 682.00. Full Story |
By: Chintan Karnani, Insignia Consultants - 21 February, 2007
Yesterday’s profit taking is another example of Japanese investment in commodities. Ultra low interest rates and cost of carry has resulted in investors borrowing in yen and investing in other financial instruments. Full Story |
By: Chris Mullen, Gold Seeker - 20 February, 2007
Gold rose over $672 in early Asian trade on Monday, but it then fell back near unchanged by the open in London and traded mostly slightly higher heading into Tuesday. Gold then fell slightly in late Asian trade on Tuesday and dropped another few dollars in London before it accelerated its losses in New York and fell to as low as $655.30 before a small rebound into the close that left it with a loss of 1.65%. Silver rose over $14.00 in Asia on Monday before it also fell for much of trade on Tuesday and dropped to as low as $13.63 in New York before it rallied over 1% from its lows in the last 2 and ½ hours of trade and ended with a loss of 1.00%. Full Story |
By: Clive Roffey - 20 February, 2007
The leading global stock and property markets have been roaring for the past four years. The driving force behind a lot of this strength has been related to the bonuses paid to bankers and fund managers in the New York and London markets. It is generally believed that some $30 billion was this year paid out in bonuses to New York financial market operators and 9 billion sterling to London City bankers and fund managers. These bonuses are related to stock market performance and then ploughed back by the recipients into more stock market and property purchases. This has all the hallmarks of a self sustaining potential bubble scenario. Full Story |
By: Douglas V. Gnazzo - 20 February, 2007
The liquidity machine known as central banks are pumping credit into the system as fast as they can. The world is awash in paper fiat debt-money: all of which is junk, some just worse then others. A game of global currency devaluation is the featured play on the street. Look for it coming to a theatre near you: and then get the hell out of the way. How? Buy Gold and Silver. Full Story |
By: Chintan Karnani, Insignia Consultants - 20 February, 2007
The bank of England is taking cues from the Japanese counter part to ensure higher growth without raising interest rates and using the currency markets for growth. Full Story |
By: Chintan Karnani, Insignia Consultants - 19 February, 2007
Gold and silver have started the week on a positive note and could near 2006 highs as the week progresses. Demand supply factor is also one of the prime reasons for the rise in gold, silver, crude and other metals and energies. Full Story |
By: Julian D. W. Phillips, Gold/Silver Forecaster – Global Watch - 18 February, 2007
A year ago the Chinese began making plans to push a good percentage of their reserves overseas. They are now at last taking action to implement a new policy of diversifying the country's over US$1 trillion foreign exchange reserves. Full Story |
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