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Weekly Archives
By: Chris Mullen, Gold Seeker - 29 September, 2006
Gold traded mostly slightly lower in Asia and London before it fell off further in morning New York trade to as low as $595.70 at one point, but a rally into the close cut some of its losses and left it with a 1.06% loss on the day. Silver followed a similar pattern. It fell to as low as $11.27 before it rebounded and ended with a loss of 1.72%. Full Story |
By: GoldSeek.com - 29 September, 2006
COT Gold Report - September 29, 2006 Full Story |
By: SilverSeek.com - 29 September, 2006
COT Silver Report - September 29, 2006 Full Story |
By: SilverSeek.com - 29 September, 2006
On September 27, 2006 the iShares Silver Trust [AMEX: SLV] filed a S-1 to register 15,222,727 shares at a proposed maximum offering price of $110.00 per share for a maximum net offering proceeds of $1,674,449,970.
As of 09/28/2006, iShares Silver Trust showed 104,323,655 ounces of silver in the trust or 3,244.8 tonnes. This represented 10,450,000 shares. Thus the registration of the S-1 this week will effectively increase the amount of shares and silver by just under 150%. Full Story |
By: Scott Wright, Zeal Intelligence LLC - 29 September, 2006
The exuberant sentiment that drove the metals up in this latest and massive upleg that peaked in May has quickly waned. Wall Street analysts are even fueling the commodities burn calling for the end to the great commodities bull of the 00’s. Though they are likely gravely mistaken, commodities as a whole have been spiraling down in recent weeks quickly wiping euphoria from commodities investors and speculators while replacing it with fear. Full Story |
By: Dr. Richard S. Appel - 29 September, 2006
The natural gas market has provided a roller coaster ride of profits and losses for those investing or speculating in it. It began 2005 below $6.00 an mcf (thousand cubic feet). By December, the combination of an increasingly tight inventory, a rising oil market, and the devastation produced by hurricane Katrina made it soar and set a $15.75 all-time price record. Full Story |
By: Clif Droke - 29 September, 2006
Since 2004 the Federal Reserve has pursued a tight money policy. The consistent hikes in the Fed Funds interest rate have been too numerous to count. At the same time the interest rate was rising the broad money supply (as measured by 3-year MZM annualized growth) was dropping like a rock when measured from a rate of change basis. The results of this policy weren’t altogether unpredictable, especially as this tightening bias bottomed out with the recent bottom in the 8-year cycle. Full Story |
By: Jim Willie CB - 29 September, 2006
Once in a while, a worthwhile exercise challenge is to think “out of the box” on an important topic. This article focuses on housing, and in particular Fanny Mae, the weakest among the Govt Sponsored Enterprises (GSE). The last sections describe in minor detail my envisioned metamorphosis for Fat Flanked Fanny. Its seeming permanent state of rigamortis prompts gradually hardening confirmation of bankruptcy, receivership, laundering of its bond portfolio, processing of its massive interest rate swap contracts, and political coercion not to prosecute its corrupt executives. Full Story |
By: Rick Ackerman, Rick's Picks - 29 September, 2006
We’re taking bullion’s possibly gratuitous ups and downs one day at a time, with results that may at times seem more gratifying to traders than to long-term investors. Fortunately, some of the gold bulls who have been active in the Rick’s Picks chat room appear content to grab what they can, even if it means being short the stuff now and then, as at least one room denizen chose to be yesterday. Full Story |
By: NSFutures - 29 September, 2006
Momentum studies are trending higher from mid-range, which should support a move higher if resistance levels are penetrated. The cross over and close above the 18-day moving average is an indication the intermediate-term trend has turned positive. If yesterday's gap higher on the day session chart holds, additional buying could develop this session. There could be more upside follow through since the market closed above the 2nd swing resistance. The next upside objective is 616.8. The next area of resistance is around 614.3 and 616.8, while 1st support hits today at 607.5 and below there at 603.1. Full Story |
By: Chintan Karnani, Insignia Consultants - 29 September, 2006
There is huge demand of gold in India this festival season. Lower gold and silver prices along with sharp rise in Indian stock markets have certainly boosted demand. Full Story |
By: Chris Mullen, Gold Seeker - 28 September, 2006
Gold immediately rose over $600 in access trade yesterday and traded between $600 and $605 in Asia, London, and most of trade in New York before it rose above $605 in late morning trade and remained near its highs in afternoon trade to close with a gain of 1.26%. Silver rose to about $11.75 in late Asian trade before it fell off a bit in Asia and dropped to as low as $11.47 in midmorning New York trade, but it then rallied a bit into the close and ended with a gain of 0.35%. Full Story |
By: Richard Benson, Specialty Finance Group, LLC - 28 September, 2006
We’re living in interesting times. A popular TV program called “Deal or No Deal” – a high-stakes game show of odds and chance – says it all. On the show, contestants compete for cash inside 26 sealed briefcases. The show is exciting because so many contestants take very big risks and at each stage they are offered a “Deal” of a certain free winning or “No Deal”, which means they risk it all for a chance to win even more. The critical thing to realize here is that the contestants can only win because their own money is never at risk. This show is a sign of the times and parallels the mentality of many money managers and financial institutions. Full Story |
By: Douglas V. Gnazzo - 28 September, 2006
Gold put in a solid performance last week, gaining the most since July. There was good physical buying from India, as the wedding season is underway. India is enamored with all things golden, and so are we. Gold was up $11.93 for the week ending 9/22/06, closing at $588.60 (continuous contract), a gain just over 2%. Silver was up an even stronger 0.37 cents to $11.16 for a gain of 3.42%. Both made higher weekly closes. Full Story |
By: Rick Ackerman, Rick's Picks - 28 September, 2006
Gold jumped back on a bullish track Wednesday as December futures pushed above a benchmark at 607.10 that we’d flagged here a couple of days earlier. From a Hidden-Pivot perspective, this feat would look more promising if the move above the two prior peaks shown in the chart had occurred in a single bound, so to speak, rather than in two separate segments. But the rally was nonetheless sufficient to lift the burden of proof from the bulls, at least for the moment, and to imply that buyers of bullion and precious metal shares may have the wind at their backs for a change. Full Story |
By: NSFutures - 28 September, 2006
Momentum studies are rising from mid-range, which could accelerate a move higher if resistance levels are penetrated. The market's short-term trend is positive on the close above the 9-day moving average. Market positioning is positive with the close over the 1st swing resistance. The near-term upside objective is at 609.9. The next area of resistance is around 607.2 and 609.9, while 1st support hits today at 599.4 and below there at 594.3. Full Story |
By: Chintan Karnani, Insignia Consultants - 28 September, 2006
Gold and silver are being driven by a combination of crude oil prices and technical factors. Full Story |
By: Chris Mullen, Gold Seeker - 27 September, 2006
Gold rose slightly in Asia and traded as much as $5 higher in London and early New York trade before it fell back off in late morning trade to as low as $590.60, but it then rallied into the close in the last 2 hours of trade and ended near its highs of the session with a gain of 1.10%. Silver rose over 20 cents in London before it fell to as low as $11.42 in late morning New York trade, but it also rallied into the close and ended with a gain of 1.85%. At the time of writing, both gold and silver are trading roughly 0.5% higher from the close in after hours trade. Full Story |
By: Todd Stein & Steven McIntyre - 27 September, 2006
While the Dow may soon briefly take out its old 11,700+ highs, the real story of late in our opinion is the recent pummeling of all commodity markets. Though we follow oil, natural gas, copper, and other commodities with great interest, our continued belief is that the best risk/reward set up in the major commodities comes in the form of the precious metals – namely gold and silver. You see, after peaking at $720 an ounce on the yellow metal and $15 an ounce for the poor man’s gold, the two metals have come under a great deal of selling pressure. We think this correction is due to a number of factors. Full Story |
By: Clive Maund - 27 September, 2006
In the last update posted on the 17th it was predicted that gold would stage a rally to alleviate the oversold condition that existed at that time, and that this rally would take it about $595 before it reacted back again. Today gold attained $594.15 intraday. However, this rally was expected to occur against the backdrop of a rally in commodities generally, which has not occurred but now looks set to occur. Full Story |
By: Clive Maund - 27 September, 2006
In the last update posted on the 17th it was predicted that silver would stage a rally to alleviate the oversold condition that existed at that time, and that this rally would take it about $11.60 before it reacted back again. Today silver attained $11.49 intraday. However, this rally was expected to occur against the backdrop of a rally in commodities generally, which has not occurred but now looks set to occur. Full Story |
By: Sol Palha, Tactical Investor - 27 September, 2006
Let’s see what the markets are up to here in the U.S examining a few key global markets. Many of these markets have experienced huge gains in the last few years and they could possibly provide us with some clues as to what lies in future for the Dow and NASDAQ. Full Story |
By: Ceri Shepherd - 27 September, 2006
The Federal Reserve Bank prints Dollars at will, in fact the US Mint prints them and charges the Federal Reserve Bank the cost of this printing. The Federal Reserve Bank has monopoly rights of distribution. Imagine that the only petrol stations in America were owned by Exxon you had to fill up at one of there stations. This is a pure monopoly no corporation would be allowed that BUT and this is a big BUT The Federal Reserve Bank is a PRIVATE BUSINESS and it has that monopoly power for the issuance of money. It actually uses other banks to distribute money and credit to the masses, but it regulates and controls the whole process. Full Story |
By: Rick Ackerman, Rick's Picks - 27 September, 2006
Today’s headline could just as easily have been “The Beauty of T-Bonds,” but we’ll get to that in a moment. I just wanted to make sure I had the attention of gold bugs, who have been on my mind lately. They have been a voluble and engaging presence in the Rick’s Picks chat room, concerned mainly with finding that so-far painfully elusive bottom in gold. For my part, I have preached caution on purely technical grounds, since I still have an unachieved target for the Comex December contract at $513, well below current levels. Full Story |
By: NSFutures - 27 September, 2006
Rising from oversold levels, daily momentum studies would support higher prices, especially on a close above resistance. The market's close above the 9-day moving average suggests the short-term trend remains positive. The close over the pivot swing is a somewhat positive setup. The next upside objective is 604.2. The next area of resistance is around 601.0 and 604.2, while 1st support hits today at 593.2 and below there at 588.5. Full Story |
By: Chris Mullen, Gold Seeker - 26 September, 2006
Gold rose to over $592 in Asia before it fell back off in London and dropped to as low as $585.60 in early New York trade, but it then rallied throughout most of the rest of trade in New York and ended slightly higher on the day. Silver dropped to as lows as $11.06 in early New York trade after it had traded higher in Asia, but it also rallied throughout most of the rest of trade in New York and ended with a gain of 1.70%. Full Story |
By: David Chapman, Union Securities - 26 September, 2006
We have been struck by the number of bearish reports and comments emanating from analysts, fund managers and assorted pundits with regard to oil, gas and other commodities. Just prior to the release of the FOMC statement on September 19, we heard a well-respected Chicago floor trader gush about how the oil bubble had burst, and how the Fed wouldn’t need to hike interest rates any further. Hearing that, we were tempted to rush out and trade in our 35 miles per gallon Honda for a gas-guzzling SUV as we watched prices at the pump plummet. Full Story |
By: Theodore Butler - 26 September, 2006
The big market news for the week was the sudden and shocking blowup of the large hedge fund, Amaranth Advisors. In little more than a week or two, the fund reportedly lost $6 billion, or 65% of its capital, making it the largest derivatives loser in history, principally as a result of bad natural gas spread trades. (Previous big derivatives losers, like Barrick Gold, must have welcomed being surpassed.) Full Story |
By: Julian D. W. Phillips, Gold Forecaster – Global Watch - 26 September, 2006
It turns out that the rumours of massive year end sales by the signatories of the C.B.G.A. were rumours, but there certainly has been an increase in their sales as you can see last week. The first conclusion we have to draw from the increase in sales the week before last, is that the third seller last week sold all the amounts over 7 or so tonnes [27 tonnes]. Full Story |
By: Steven Saville, Speculative Investor - 26 September, 2006
For more than 10 years there has been a strong tendency for the gold sector's intermediate-term trend to reverse direction during October-November. In particular, when the gold sector -- represented in this discussion by the AMEX Gold BUGS Index (HUI) -- trends higher into October-November it will regularly reverse course and trend lower over the ensuing 6-12 months; and when the trend is 'down' going into the October-November period there will often be an upward reversal leading to a 6-12 month rally. Full Story |
By: Captain Hook - 26 September, 2006
Overly optimistic and unprepared investors were provided with a reality check in the precious metal markets over the past couple of weeks. And still you hear them, talking about how ‘the powers that be’ are attacking gold right now in connection with upcoming mid-term elections in the States, along with the unsold allotment European bankers could be dumping on the market. After all, what else could be causing all that selling? It couldn’t possibly have been a bunch of foaming at the mouth bulls all leveraged up on margin. Oh no. Or bottom of the barrel commodities houses leading Johnny come lately’s down the garden path, a common occurrence in all bull markets at or about the a time a top of some significance is being traced out. Nah – not a chance. Full Story |
By: Ned W. Schmidt, CFA,CEBS - 26 September, 2006
We, meaning those of us in the U.S., are alone in the world. Nothing exists beyond the shorelines of the Atlantic and Pacific oceans are reached. Minutes of the FOMC, the rate setting committee of the Federal Reserve System, confirm that U.S. economic policy is set in isolation. No interaction with rest of the world is presumed to exist. The U.S. does not owe the rest of the world trillions of dollars and does not rely on foreign investors to finance a deficit created by excessive spending. Full Story |
By: Rick Ackerman, Rick's Picks - 26 September, 2006
With an unachieved downside target at $513 in December Gold, I am trying to be as conservative as possible about signaling an important, bullish turn. We don’t want to risk being premature buyers if the price of gold, currently just below $600, still has more than $80 (about 14 percent) to fall. In that context, how bullish was yesterday’s v-shaped rally, which saw bullion futures rebound from early-morning lows at $587 to an intraday high $10.50 above? Answer: Better hold off on the bubbly, at least for the time being. Full Story |
By: NSFutures - 26 September, 2006
The stochastics indicators are rising from oversold levels, which is bullish and should support higher prices. The market's close above the 9-day moving average suggests the short-term trend remains positive. The daily closing price reversal up on the daily chart is somewhat positive. The close over the pivot swing is a somewhat positive setup. The next upside objective is 603.5. The next area of resistance is around 600.6 and 603.5, while 1st support hits today at 591.2 and below there at 584.6. Full Story |
By: Chris Mullen, Gold Seeker - 25 September, 2006
Gold dropped to about $585 in early Asian trade, rose to over $590 in late Asian trade, fell a few dollars in London, and dropped to as low as $581.80 in morning New York trade, but it then rallied fiercely higher in afternoon trade and ended near its highs with a small gain. Silver followed a similar rollercoaster ride in a range of about $11.00 to $11.20 and also ended near its highs with a slight gain. Full Story |
By: Douglas V. Gnazzo - 25 September, 2006
One of the more important aspects of the constitutional convention is not often discussed or written about: the secretacy that it took place behind closed and guarded doors; that the debates that took place inside were not divulged by the delegates to the news media or others outside the room; and that many deals or compromises were made to produce the final result, i.e. the Constitution. Full Story |
By: NSFutures - 25 September, 2006
The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are rising from oversold levels, which is bullish and should support higher prices. The market's short-term trend is positive on the close above the 9-day moving average. Market positioning is positive with the close over the 1st swing resistance. The near-term upside objective is at 602.7. Short-term indicators suggest buying pullbacks today. The next area of resistance is around 599.4 and 602.7, while 1st support hits today at 591.4 and below there at 586.7. Full Story |
By: Chintan Karnani, Insignia Consultants - 25 September, 2006
Our analysis has always been on the bullish zone as it based on the notion the world is moving away from a US dollar standard to a gold standard in the coming years. Full Story |
By: Mary Anne & Pamela Aden - 24 September, 2006
Gold fell sharply this month. This has disappointed many investors. In fact, many are saying the bull market is over and the days of booming price rises has ended, but the facts indicate otherwise.
Gold’s bull market remains in force and that’ll continue as long as gold stays above $545. What we’ve seen so far is a strong downward correction within the bull market, which is not unusual considering gold rose 72% from July, 2005 to May, 2006 (see Chart 1). This recent action, however, is providing a good opportunity to stand back and review some important investment fundamentals. Full Story |
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