Gold jumped about $15 higher in reaction to the fed’s statement in after hours Access trade late Thursday and traded near $600 in Asia and London before it furthered its gains throughout most of trade in New York and ended with a gain of 4.66%. Gold’s gain marks its largest since 2001. Silver rose near $10.80 late Thursday, fell back near $10.60 in London, and then surged to over $11 in New York before it fell back off a bit, but it still ended with a gain of 5.48%. Full Story
Recently I had the pleasure of having lunch with the Comptroller General of the United States, David M. Walker. He heads up the U.S. Government Accountability Office (GAO), the government’s internal watchdog. As he was about to give a talk on out-of-control government deficits, he had in his briefcase a chart on the size of the government’s obligations over time. Our discussion about those obligations over lunch was followed by an email exchange, and Walker kindly helped me source additional GAO data, all of which allowed me to confirm my analysis of the budget with projections from the Congressional Budget Office (CBO). Full Story
Rising prices from years of inflating the money supply are finally seeping into the highly doctored core consumer price index. To hear some of the leading economists debate the inflation issue on TV, with remarks such as asset price inflation being good inflation versus product inflation being bad inflation, should tip us off as to just how far from a solution we are. If this is what we have come to expect from those trained in the field of economics, just imagine how hopeless it would be to try to explain the dangers inherent in today’s economic model to your average investor or consumer. Full Story
The junior exploration market is a minefield to most who enter it. This is because few individuals are properly prepared to maneuver in it, and are thus fated to suffer the inevitable consequences. Yet, if properly approached I believe that junior stock speculation can greatly enhance an investor’s wealth. Full Story
Around the investment world this week, many sat waiting for nothing to happen. Listening to the business media one might have thought some event of importance was occurring these last days of June. The Federal Reserve's meeting will not change today's world. Markets will react to the FOMC announcement, though no reasons exists for that reaction. Full Story
By: Scott Wright, Zeal Intelligence - 30 June, 2006
Measured by weight, platinum has been generally worth about twice as much as gold. And because of its rarity and beauty, it has taken the jewelry market by storm in the last century. Today platinum bullion coins are even recognized as a form of currency in many countries ramping up investment demand. It is just magical to hold in your hand a one-ounce pure platinum bullion coin. How can a goofy ring possibly provide the same feeling? Full Story
Stochastics are at mid-range but trending higher, which should reinforce a move higher if resistance levels are taken out. The close above the 9-day moving average is a positive short-term indicator for trend. A positive setup occurred with the close over the 1st swing resistance. The next upside target is 600.0. The next area of resistance is around 594.3 and 600.0, while 1st support hits today at 583.5 and below there at 578.3. Full Story
Gold rose to trade a bit over $580 in Asia and London before it surged to over $590 in late morning New York trade, but it then fell off a bit into the close and ended with a gain of 1.37%. Silver rose about 10 cents in Asia and London and surged to over $10.50 in late morning New York trade, but it also fell off into the close and ended with a gain of 2.16%. Both metals closed with those gains before the fed decision, which at the time of writing has sent both metals over 2% higher. Full Story
Although it is still several months until Thanksgiving, all of us can pause and be grateful for this wonderful opportunity to once again buy silver and gold at prices that are incredibly low. It was only weeks ago that many of our more bullish brothers thought we would never again see a buying opportunity like this. Now we hold that opportunity in our hands, and it is each investor's decision about what to do with it. Full Story
A cycle seems to be in progress, playing itself out within the confines of the commodity bull market. A pendulum swings its investor emphasis from gold to energy and back again to gold. The chart for the HUI (gold & silver miner stock index) versus the XOI (energy producer stock index) is the most unusual mine eyes ever have observed among several hundred such charts. Full Story
Rising from oversold levels, daily momentum studies would support higher prices, especially on a close above resistance. The market's close below the 9-day moving average is an indication the short-term trend remains negative. It is a slightly negative indicator that the close was under the swing pivot. The next upside target is 592.9. The next area of resistance is around 586.1 and 592.9, while 1st support hits today at 575.9 and below there at 572.4. Full Story
There is nervousness in commodity markets, equity markets as well as treasury markets. The way the markets are reacting it seems that the markets expect the Fed bomb to blast soon. This is the calm before the storm. Full Story
Gold fell in Access trade late yesterday, rose to find small gains in Asia and London, and climbed near $587 in early New York trade, but it then dropped to as low as 576.30 before it rebounded slightly into the close to end with a loss of 0.6%. Silver dropped near $10.10 in Access trade late yesterday and rose to trade in a range of about $10.20 to $10.40 in Asia and London before it dropped back near $10.10 in New York and then rebounded slightly to close with a loss of 0.49%. Full Story
Precious Metals stocks are believed to have bottomed, although we may see a test of the recent lows, and prices may dip marginally below them in coming weeks, any such retreat being regarded as a major buying opportunity. It is considered to be too soon after the recent plunge for a new intermediate uptrend to get underway. Full Story
Rising from oversold levels, daily momentum studies would support higher prices, especially on a close above resistance. The close above the 9-day moving average is a positive short-term indicator for trend. The daily closing price reversal down puts the market on the defensive. It is a slightly negative indicator that the close was lower than the pivot swing number. The near-term upside target is at 603.1. The next area of resistance is around 592.0 and 603.1, while 1st support hits today at 576.8 and below there at 572.6. Full Story
June Fed meeting is over hyped and once the meeting is over a major break out from the current trading range is imminent in gold and silver as well as the currency markets. Full Story
Gold rose about $5 to around $590 in Asia before it fell off a bit in London, but it still came into New York a couple dollars higher on the day. Gold soon rose in midmorning trade to over $595 at one point, but it then sold off sharply in the last 2 and ½ hours of trade and ended 0.53% lower on the day. Silver rose slightly in Asia before it fell off a bit in London, but it also rallied sharply higher in midmorning New York trade before it sold off into the close and ended with a minor loss. Full Story
By: Theodore Butler & Carl F. Loeb - 27 June, 2006
I hope there is no doubt in anyone’s mind why silver sold off more than 5 dollars in a month. It was not accidental, but rather a deliberate effort by the big COMEX shorts to frighten and shake out as many leveraged longs as possible. These shorts drove the price sharply lower by collusively pulling their bids when they knew liquidity was at its lowest, principally in the overnight markets. Faced with growing daily margin calls, those that held silver contracts on margin sold their contracts by the thousands, either because of fear of further losses or lack of additional funds. It was not a voluntary liquidation. The commercial shorts then covered their short sales by buying back the thousands of contracts being dumped under duress. Full Story
Daily momentum studies are on the rise from low levels and should accelerate a move higher on a push through the 1st swing resistance. The market's short-term trend is positive on the close above the 9-day moving average. The close over the pivot swing is a somewhat positive setup. The near-term upside objective is at 595.7. The next area of resistance is around 592.4 and 595.7, while 1st support hits today at 583.0 and below there at 576.8. Full Story
Gold remained in a tight range on either side of unchanged in Asia and London before it dropped to $577.00 in late morning New York trade, but it then rallied into the close and ended back near unchanged on the day. Silver traded nicely higher in Asia and London before it fell near $10.00 in late morning New York trade, but it also rallied into the close and ended just slightly lower on the day. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 26 June, 2006
The week ended 16th June saw one signatory to the Central Bank Gold Agreement sell 1.5 tonnes of gold. The WGC expects sales this CBGA year to be at or close to the 500 tonne annual limit (but it is not yet certain whether sales in the later years will reach the limit). Full Story
By: Gary Dorsch, Editor – Global Money Trends Magazine - 26 June, 2006
Since 5/11, risk aversion has become the buzzword in global financial markets, with central banks from 20 countries across the globe signaling higher interest rates and tighter liquidity ahead. Interest-rate futures traders are betting on two quarter-point hikes by the Bank of Japan, the European Central Bank, and the Federal Reserve. Joining the tightening bandwagon are the Bank of China and the Bank of India, whose economies expanded at 10.3% and 9.3% rates in the first quarter. Full Story
Interest rates around the world have been hiked. This is the being heralded by the bankers as the new In almost every major global market the relative strengths of the metals indexes have moved into superior performance mode. These are selective markets, not ones in which the hackneyed concept of diversification can be applied. Academic portfolio diversification theory works well provided there is a bull market in operation. But in a bear market it fails miserably. Full Story
The rise in Gold Stocks is signalling that there is not enough Monetary INFLATION. In other words the unwinding of the Yen Carry is sucking too much liquidity out of the system and the FED is not providing enough EASY money to compensate. So yes, Gold Stocks have been rising because of FEAR. The fear of DEFLATION!!! Full Story
The stochastics indicators are rising from oversold levels, which is bullish and should support higher prices. A positive signal for trend short-term was given on a close over the 9-bar moving average. The upside closing price reversal on the daily chart is somewhat bullish. The close over the pivot swing is a somewhat positive setup. The next upside target is 599.3. The next area of resistance is around 595.2 and 599.3, while 1st support hits today at 580.8 and below there at 570.4. Full Story
Gold traded between $580 and $585 in Asia before it started to fall off in London and continued to drop in New York to as low as $571.40, but it then rallied to near unchanged, fell back off a bit, and then rallied again into the close to end with a decent gain on the day. Silver briefly fell under $10 in early New York trade before it also rallied throughout most of the rest of trade and ended with a gain. 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.
