Gold traded roughly $1-$3 lower in Asia and London before it rebounded and found slight gains in early New York trade, but it then fell over 1% between 10AM and 11AM EST, remained about 1% lower for the rest of trade, and ended with a loss of 1.07%. Silver followed a similar pattern and outpaced gold’s drop with a loss of 1.94%. Full Story
By: Adam Hamilton, Zeal Intelligence LLC - 23 March, 2007
Much has been said and written about all the chaos that buffeted the financial markets several weeks ago in response to the selloff in the parabolic Chinese stock markets. The mini-panic’s impact on the US stock markets and commodities in general has been analyzed from countless perspectives. Silver, perhaps speculators’ most beloved commodity, did not escape this carnage unscathed. Full Story
Was this perhaps the beginning of another week of misery for gold bugs, you ask? We don’t think so, and here is why. If you look closely at the chart above, you will see that the seemingly gratuitous spike to 667.60 slightly exceeded an obscure and presumably forgotten peak well to the left of it on the chart. In our experience, rallies that can achieve this little feat before they sputter out and die are destined for bigger and better things. According to the “look-to-the-left” rule that we teach Hidden Pivot students, this rally is still feisty as hell – and proving it with each little conniption it throws on the hourly chart. Full Story
Copper and other base metals except zinc have out performed precious metals this week. The volatility in gold and silver in the last week of February and early march had shaken investor confidence. Full Story
Gold rose about $5 in reaction to the fed’s statement in after hours access trade late yesterday and held near $664 in Asia and London before it rose to about $666 in midmorning New York trade, but it then fell off a bit into the close and ended about $3 off its high with a gain of 0.68%. Silver gained about 10 cents in access trade yesterday and held around $13.35 in Asia and London before it rose near $13.50 in midmorning New York trade, but it also fell off into the close and ended about 10 cents off its high with a gain of 1.21%. Full Story
The market indicated its super-oversold condition to us soon after the Feb. 27 sell-off based on volume and put/call ratio indications. The bottom has since been confirmed and Wednesday witnessed the big rally day everyone has been waiting for. The market rewarded our patience on Wednesday by rallying 24 points, or 1.71%, as measured by the S&P 500 index (SPX). Full Story
The degree to which the PM fixings chart has been skewed to the upside is even more dramatic than in the Comex gold futures. This suggests that the demand in the physical market must be very strong and that physical demand is the most important driver of the current gold price move. The conclusion is that this is about as bullish as it is ever likely to get in the precious metals markets. The word “explosive” certainly comes to mind. Full Story
One after another, the various signals are turning bullish for the Precious Metals and Resources. As more and more analysts turn from their bearish stance of two weeks ago, changing their outlook now, and advising their clients to hop on the train, in the process they will be causing the move to pick up speed. Full Story
Let's review the action: The stock market had been cruising along nicely, steadily making new high after new high. Suddenly background nervousness unexpectedly burst to the forefront. The market dropped sharply. After a weak recovery, the Dow fell to new lows, scaring the bejeezus out of nearly everyone and turning even the most steadfast bulls into vicious, gnarling, howling grizzlies. But before long, a powerful erection of prices -- fueled by a sudden, renewed sense of investor optimism and relief -- lifted hope once again. Can new highs be far behind? Full Story
Gold rose slightly in Asia and topped $660 in London before it fell in New York and dropped to as low as $656.30 by late morning, but it then rallied back higher into the close and ended with a gain of 0.14%. Silver traded near $13.30 in Asia and London before it dropped to as low as $13.10 in late morning New York trade and then rebounded into the close as well, but it still ended with a loss of 0.23%. At the time of writing, both metals are trading roughly 0.75% higher than their close in reaction to the fed’s statement. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster – Global Watch - 21 March, 2007
This report is written in the light of an overlooked conclusion on the objectives of China. China realizes that it is an emerging giant. It realizes it has the capacity to outperform the developed world in manufacturing of all kinds [by following a path similar to Japan and other Asian nation – but on a far greater scale]. It is not China’s intention to sit in the shadow of the U.S. or Europe, but to become the dominant global player, with its extremely low cost manufacturing cost structure. Full Story
China’s central bank chief has stated that that China would stop stockpiling foreign exchange reserves. There is nothing new in these comments as most central banks are diversifying foreign exchange reserves at a snails pace. Full Story
Gold rose a few dollars in Asia before it fell back to about unchanged in London, but it then surged over 1% higher to over $660 a little before 9AM EST, remained around 1% higher for most of the rest of trade, and closed with a gain of 0.78%. Silver topped $13.35 a little before 9AM EST before it also fell off a bit heading into the close, but it still ended with a gain of 1.07%. Full Story
By: Peter Zihlmann, Zihlmann Investment Management AG - 20 March, 2007
While the past is not always a reliable guide as to what the future may bring, it can give us a prescience of what may lie ahead. The chart below reveals one thing for sure: the US-Dollar has lost more than 30% against a basket of foreign currencies over twenty years, but not in an uninterrupted line of course. Full Story
By: Steven Saville, Speculative Investor - 20 March, 2007
In summary, the relationship between stocks and commodities has been different during the first seven years of the current cycle in that these two asset classes went from being inversely correlated or uncorrelated to being positively correlated. However, the stage has potentially been set for things to go back to the way they were. Full Story
Gold rose a few dollars to above $655 in Asia before it fell back off in London and New York, but it remained mostly slightly higher for most of trade and ended with a 0.09% gain. Silver rose above $13.15 in Asia before it fell back off to $13.04 in early New York trade, rebounded back above $13.15 in late morning trade, and then fell back off a bit again, but it still ended with a gain of 0.15%. Full Story
Stock markets around the world have sold off from recent highs, due to worries over the subprime mortgage debacle, the Yen Carry Trade, and the subsequent selling of just about anything in order to meet margin calls. Liquidity, liquidity, and more liquidity is the name of the game. Full Story
Ever since I wrote my piece ‘HUI – preparing for launch soon’ (Jan 22) the gold stocks tried to take off several times indeed but unfortunately all attempts failed so far. Time to worry? Should we Sell? Wait? Buy? Sure enough the volatility in the gold shares is at an extreme lately. Yes, fear seems to be the tune of the day. Fear of a commodity meltdown due to collapsing Chinese stock markets, fear of a financial crisis due to current subprime mortgage issues which caused severe drops in several subprime mortgage companies. Full Story
The content on this site is protected
by U.S. and international copyright laws and is the property of GoldSeek.com
and/or the providers of the content under license. By "content" we mean any
information, mode of expression, or other materials and services found on GoldSeek.com.
This includes editorials, news, our writings, graphics, and any and all other
features found on the site. Please contact
us for any further information.
Live GoldSeek Visitor Map | Disclaimer
The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy
or completeness of the information (including news, editorials, prices, statistics,
analyses and the like) provided through its service. Any copying, reproduction
and/or redistribution of any of the documents, data, content or materials contained
on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC,
is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.
