Before today, the US dollar, over the past month, has retraced 61% of its gains over the past three months. After a week of consolidating between 83.80 and 84.75, the dollar broke out higher today, ending the day up 1.2%. Has the slide in the dollar simply been a classic retracement and now support has been discovered? It could appear to be that way. Full Story
Next week's summit of G20 leaders here in London – faced with the worst global economic contraction since at least 1980 – is expected to bring to a head the issue of "competitive devaluation" between major currencies such as the Euro, US Dollar, Japanese Yen and British Pound. Full Story
In any event, we'll stick with the rally target at 1001.10 that went out to subscribers Wednesday night. It may take a while, though, since we don't see the short-squeeze that has been driving the stock market higher ending quickly. Full Story
International quantitative easing, zero percent interest rates and competitive currency devaluations will likely see all fiat currencies fall against the finite currency that is gold and we have likely only seen the early stages of this in recent months. Full Story
The gold market seemed to waffle around in the morning trade but the bull camp has to be somewhat happy with the fact that a slightly higher Dollar and a soaring equity market didn't seem to knock gold off balance. Full Story
When the Fed announced it would begin quantitative easing after last-week's FOMC meeting, not surprisingly the dollar plunged rather dramatically. Confirmation that the world's largest economy and debtor nation would print dollars and use those monies to buy its own debt was an extremely dollar negative event. Full Story
There will always be days on Wall Street like yesterday, when even those who are barely aware of the stockmarket can understand that its activities are driven mainly by a bunch of yo-yos. To look at the dignified, neoclassical façade of the New York Stock Exchange, one would never guess that it is just a highfalutin’ nut-house. Take yesterday, for instance. The Dow Industrials began the day with an orderly 215-point rally, extending the bull run of the last few weeks. But luncheon remarks by our new Treasury secretary caused shares to swoon so precipitously that you might have thought the U.S. was under attack by the Martians. Full Story
Investors are not confident on investing in treasuries. If investors do not invest then these central banks will buy their own treasuries by printing more notes which if it continues could be catastrophic for global economy. How? Basically it will be like printing notes to run the economy which will create asset bubbles of various assets, a whirlpool of asset bubbles will be created over the coming years. This will uncontrollable by the central banks. The end result global economies getting busted one after another and gold and other precious metals will be the real asset. Full Story
The gold market initially waffled around both sides of unchanged before the gold market began to be lifted by weakness in the Dollar, strength in the US scheduled numbers and perhaps even because of strength in the US equity market. Full Story
By: Mark O’Byrne, Gold Investments - 25 March, 2009
The global financial and economic meltdown is leading to central banks internationally attempting to devalue their currencies and this has profound implications for investors and savers as it will lead to significant inflation in the coming months. An early manifestation of this and early warning signal was seen in the UK yesterday where the consumer price index rose to 3.2 per cent. Full Story
Gold Prices for German, UK and US investors held 5% higher from New Year's Day, but the US Dollar strengthened once more, knocking one-third off the Euro's sharp rally of Wednesday last week. Full Story
The gold market did manage to throw off some of the overt weakness seen into mid session and perhaps that bounce was the result of a slight setback in the Dollar or perhaps the bounce was the result of the uncertainty and tensions flowing from the Congressional testimony on the AIG bailout. Full Story
Trading without indicators is like running blind and it encourages emotional trading that is the bane of successful investors. Below are brief descriptions of 5 of the most popular gold mining company indices and how they should be used in conjunction with the price of gold to determine the future movement of gold bullion and gold mining stocks. Full Story
Bullion and precious metals shares will undoubtedly decline once it’s understood fear is coming out of the market(s), however as described a few weeks back at the onset of the correction, gold should only drop back into the $850 to $900 range in a sloppy test of the megaphone breakout, with the indexes bolstered by generally buoyant equity markets. This means weakness should be bought, but patience into next month might prove to be a virtue. As an indication of what to expect, I am looking for the Amex Gold Bugs Index (HUI) to drop back down into the 250 area minimally, and below possibly, as late comers to the party are scared out of their positions once it’s thought the sky is not falling. Full Story
Our most recent price targets for Gold and the Mini-S&P were more ambitious than usual because we'd planned to be away from our desk for a couple of days on a family ski trip. Imagine our surprise when we came off the slopes and discovered that the extravagant, cover-our-butt targets we'd computed for these two trading vehicles had actually been surpassed by day's end, albeit not by much. In the case of Gold, our worst-case downside target for the near term was 938.50 -- a $17.70 decline. In actuality, the June contract traded down to 936.00, hinting of further weakness to come. Full Story
Last week a very dangerous precedent was set when the Fed announced that it is going to start overtly intervening to backstop the ailing Treasury market. The market's verdict on this announcement was immediate and unequivocal. While Treasuries rallied sharply as one might expect, the dollar cratered and gold staged a dramatic turnaround to close sharply higher. Full Story
THE SPOT PRICE of physical gold moved in a 1% range against all major currencies Monday morning, bouncing off a low of $946 an ounce as the Dollar rose vs. the Euro and Wall Street stocks jumped on a new rescue plan for US banks. Full Story
Why the dour outlook for the intermediate term? The reason is painfully obvious: With fiscal and monetary policy more inflationary than ever in the U.S. and around the world, gold should already be trading well above $1000; but it is not. We won't dwell for long on why, since there are many plausible reasons. Suffice it to say, deflation has decimated the investment resources that institutional players might now be deploying speculatively and/or defensively in gold. Full Story
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