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Weekly Archives
By: Chris Mullen, Gold Seeker - 1 December, 2006
Gold traded mostly slightly higher in Asia, fell a couple dollars in London, rose up near $650 in midmorning New York trade, and then fell off into the close and ended with a loss of 0.23%. Silver dipped near $13.80 before it rose to over $14.00 in late morning New York trade and then fell off a bit into the close, but it still ended with a gain of 0.43%. Full Story |
By: Richard Benson, SFGroup - 1 December, 2006
Treasury Secretary, Henry M. Paulson, is rushing off to China next month and will lead a delegation to Beijing for the inaugural meeting of the U.S. – China Strategic Economic Dialogue. He’ll be taking high-ranking Administration officials with him, including Federal Reserve Chairman, Ben S. Bernanke. Because Hank and Ben are responsible for stabilizing the financial markets and need to work together to try and stabilize the dollar, their activities in China will undoubtedly be closely watched worldwide. Full Story |
By: Harry Schultz - 1 December, 2006
Cheery gold action this week! J. It started curiously, with gold bullion giving back a $6.00 intraday gain last Wednesday to close up just 30 cents on the day, in spite of a sharp decline in the US$. This unusual action was most likely a mix of gold cartel antics (selling) at crucial neckline resistance of the 3½-month reverse H&S base, weakness in crude oil & aggressive profit taking prior to the long US holiday. Full Story |
By: GoldSeek.com - 1 December, 2006
COT Gold Report - December 1, 2006 Full Story |
By: SilverSeek.com - 1 December, 2006
COT Silver Report - December 1, 2006 Full Story |
By: Jim Willie CB - 1 December, 2006
Don’t look now, but a new emergent monster is growing, this one a close cousin to the trade gap. We have all been subjected to the steady deterioration in the trade gap, from gargantuan imported product sales from Asian (mostly Chinese, but also Pacific Rim) finished goods, worsened by oil imports (MidEast, Canada, and Mexico). The source of trade deficits used to be primarily electronics from the Pacific Rim and oil from the MidEast. Now it is a cornucopia of finished products from China like furniture, housewares, furniture, garden items, and a mix of pirated products like car parts. Full Story |
By: Scott Wright, Zeal Intelligence - 1 December, 2006
In this great commodities bull market of nearly six years, gold has been an unrelenting leader. It was gold that was first to pick itself up off the mat after the ugly secular bear had it pinned for so many years. And nobody was more excited to see this swing in fortunes than the gold miners that bring new supply to market. Full Story |
By: Peter Zihlmann, Zihlmann Investment Management AG - 1 December, 2006
While the past is not always a reliable guide as to what the future may bring, it can give us a hunch 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: Jim Otis - 1 December, 2006
No need to look at charts of silver prices. A simple glance at the calendar will tell you that it is winter already, so silver must be skyrocketing. Many writers on several websites have pointed out that buying silver in the summer and selling it in the winter is a sure and easy way to make lots of profits. If you can't grow up to be the Federal Reserve and print your own fiat, buying silver in the summer and selling in the winter just might be the next best way to dramatically increase the number of FRNs in your bank account. After all, if everyone knows that strategy, and they talk about it on the Internet where only truth is permitted, then it must be trustworthy and dependable. Right? Full Story |
By: Shailendra Kakani - 1 December, 2006
There has been a lot of anticipation and euphoria among the gold bugs around the world on the news that a former Deputy Governor of the Reserve Bank of India and Chairman of the Committee on Fuller Capital Account Convertibility has suggested to the Reserve Bank of India to increase the proportion of gold in the country's foreign exchange reserves. Mr. S.S. Tarapore, who has been a long time admirer of gold, said that gold as a reserve asset has a longer and more enduring history than flat money, and thus deserved a better representation in the country's forex reserves. Full Story |
By: Chintan Karnani, Insignia Consultants - 1 December, 2006
Yesterday’s clobbering of US dollar suggest that gold is headed for $700 and higher this month and silver to $1650-$1700 unless economic numbers from US suggest that the US economy can avert a recession. Full Story |
By: Chris Mullen, Gold Seeker - 30 November, 2006
Gold rose a couple dollars in Asia and added a few bucks more in London to about $640 before it added nearly $10 more in New York and then fell back off a bit, but it still ended with a gain of 1.83%. Silver rose about 10 cents in Asia and London and added about 30 cents more in New York before it fell off a bit, but it still ended near its highs with a gain of 2.66%. Full Story |
By: Ned W. Schmidt, CFA, CEBS - 30 November, 2006
Sometimes when preparing an often done dish for a meal the chef will change one ingredient. That alteration in the recipe is an attempt to determine if that modification enhances the flavor experience. In this act the chef is leaving all else unchanged. Economists might describe the result as a “ceteris paribus recipe,” all the other ingredients held unchanged with the exception of one. Full Story |
By: John Rubino, DollarCollapse.com - 30 November, 2006
It’s easy to talk about the credit bubble, but a picture is still worth a thousand words—or in this case millions of dollars. Below are some charts created by Houston-based Bearing Asset Management that illustrate just how crazy (and familiar) today’s market has become. Full Story |
By: Chintan Karnani, Insignia Consultants - 30 November, 2006
Gold and silver are consolidating at the moment and after a week of gains. Nervousness among the traders and december future expiry today has resulted in profit taking at higher levels. Full Story |
By: Chris Mullen, Gold Seeker - 29 November, 2006
Gold rose near $640 in Asia, fell to about $634 in London, traded between $635 and $638 in New York, and ended at the bottom of that range with a loss of 0.28%. Silver rose to about $13.80 in Asia, fell in London, and dropped to about $13.55 in early New York trade before it rebounded a bit, but it then fell back off into the close and ended with a gain of just 0.07%. Full Story |
By: Ty Andros & Garret Jones - 29 November, 2006
Wow, the dollar got clobbered over then Thanksgiving holidays, when US traders were at the dinner table and US banks were closed, big players from around the world hit is hard. The Peoples Bank of China was warning against the risks they and the rest of our Asian Creditors had with their large dollar reserves. The accumulation of which has virtually stopped from that part of the world. They are no longer buying treasuries, or keeping their new dollars in reserve. They are buying assets that are denominated in other currencies as treasuries are rallying here (i.e. going up, causing long term rates to decline). Who’s buying US treasuries? Could it be the Federal Reserve? Full Story |
By: Gary Dorsch – Editor, Global Money Trends newsletter - 29 November, 2006
The $2 trillion per day foreign exchange market never sleeps. Yet for the past six months, the big-3 central banks, the Federal Reserve, the European Central Bank, and the Bank of Japan managed to lull the currency markets into a deep trance. Since last May, the big-3 central banks corralled the US dollar to within a 3% to 5% trading range against the British pound, the Euro and Japanese yen. Full Story |
By: Nigel H Maund - 29 November, 2006
The world’s greatest residential property bubble, is, at last, starting to come apart in the US, UK and Australia first, as predicted by this writer in his article “Tulips of Stone”, written in 2004. The sustained 25 basis point rises in interest rates undertaken by the Reserve Banks of the US, UK, Europe and Australia is, albeit slowly, beginning to bite. This will slowly intensify as rebalancing of the global economy takes place. Full Story |
By: Clif Droke - 29 November, 2006
One of the most constantly repeated themes in the financial news media of late has been the slowdown of the U.S. economy. Fed chief Bernanke jumped on this theme in his latest remarks, stating that the economic softness is proceeding along the lines envisioned by the Fed (of course it is – the Fed created it!) Full Story |
By: Chintan Karnani, Insignia Consultants - 29 November, 2006
Euro‘s rise has lead to street talk of 1.40 to 1.45 against the US dollar over the coming months. Currency speculators are expecting a repeat of 2004. Full Story |
By: Chris Mullen, Gold Seeker - 28 November, 2006
Gold fell a couple of dollars in Asia and London, rallied back above $640 in midmorning New York trade, plunged over $8 to the low $630s just after 10AM EST, rallied back up near $640 by early afternoon, fell back off a bit into the close, and ended with a loss of 0.45%. Silver traded in a range of about $13.40 to $13.55 for most of trade in Asia, London, and New York before it rallied higher in afternoon New York trade and ended near the top of that range with a gain of 0.67%. Full Story |
By: Douglas V. Gnazzo - 28 November, 2006
I have had a number of email requests concerning higher lows and higher highs, and exactly what they mean regarding bull and bear markets, especially for the pm sector. The next series of charts for the HUI will be used to help explain the relationship between highs, and lows, and daily, weekly, and monthly charts, and bull and bear markets. The main question I have been asked is how can the gold stocks be in a bull market when they are making lower highs. I will address this question shortly (well kind of shortly). Full Story |
By: Martin W. Hennecke - 28 November, 2006
What a large number of even the more educated US Dollar bear-and US financial crisis expectation camp however do NOT seem to be aware of is the global nature of the problem. It is completely wrong to assume, for example, that the Euro or the British Pound are inherently ‘hard’ and healthy currencies that would provide protection from a plunging US Dollar. It is not known by most, that in fact the majority of the Western ‘developed’ world and not just the United States is facing national bankruptcy shortly ahead, and that this has been officially predicted by the world’s leading rating agency, Standard & Poor’s. Full Story |
By: Steven Saville, Speculative Investor - 28 November, 2006
One reason we much prefer gold to all other commodities in the current environment is that gold tends to perform relatively well when real economic growth is slow, and slow, or no, real growth is a likely outcome as far as the coming year is concerned. Another reason is illustrated by the following long-term charts of the CPI-adjusted CRB Index and the CPI-adjusted gold price. Full Story |
By: George J. Cocalis - 28 November, 2006
When I talk to people about why gold will reach 1,600 and why the U.S. dollar will eventually collapse, people always ask me, “Have you always been so pessimistic about the economy?” and I respond that I actually have been pessimistic only for the past year and a half. They look at me perplexed and I continue to explain to them that I've come to realize quite recently that the structural backbone of America is being corroded with its massive trade and budget deficits. For many, it is perhaps inconceivable that the United States will be reduced to a second rate power, but as Americans we hold a high standard of living. Full Story |
By: Rick Ackerman, Rick's Picks - 28 November, 2006
Admit it: Yesterday felt right as rain. The Dow Industrials opened down nearly a hundred points and looked like hell all day. It was almost like being in love. We’ve waited many months for the stock market to register at least a dim recognition of the disaster taking shape in the U.S economy, and Monday’s effort may have provided a good start. Now, if sellers can just string together a few more such emetic events this week and next, pounding share values down to the point of rationality, we might even become buyers. Full Story |
By: Chintan Karnani, Insignia Consultants - 28 November, 2006
There is hardly anything to comment on gold and silver at this juncture except that a combination a lower US dollar and higher crude oil prices (apart from a technical break out) is supporting prices. Full Story |
By: Chris Mullen, Gold Seeker - 27 November, 2006
After closing at $628.60 in the U.S. last Wednesday, gold gained about $10 in London on Friday and came into the weekend at $637.90. It then rose a few dollars more at the start of trade today in Asia before it fell back off a bit in London and dropped back near $636 in early New York trade, but it then rallied into the close and ended near its highs of the session with a gain of 1.77% when compared to last Wednesday’s close. Silver came into the weekend at $13.40 and rose over 10 cents in Asia before it fell back under $13.40 by the New York open, but it then quickly rose back above $13.50 in later New York trade, fell off just slightly into the close, and ended with a gain of 3.38% when compared to last Wednesday’s close. Full Story |
By: Thomas Hartmann - 27 November, 2006
Open interest moves to February and First Notice doom approaches on Thursday for December gold. The big news event for Monday was actually took place on Friday, when the New York markets were closed for the Thanksgiving holiday. The dollar slid hard Friday and enabled Dec gold prices to forge a solid close above $630. Due to the holiday the market opened higher today with a gap in the charts but remained fairly quiet after the open. Full Story |
By: Julian D. W. Phillips, Gold/Silver Forecaster – Global Watch - 27 November, 2006
The gold Exchange Traded funds have been the most remarkable addition to the gold market ever seen. The translation of a metal market previously outside the paper markets [except for the mining company shares] into a paper market too, has seen the investment in gold for new time buyers of close to 600 tonne in less than two years. And the show is by no means over, as the World Gold Council [WGC] continues to market and educate fund managers who previously excluded gold mining shares as too high risk. Full Story |
By: Dr. Steve Sjuggerud - 27 November, 2006
But the bull market in gold is back in full swing. As I write, the price of gold is at $638, roughly 10% away from highs reached this summer. While some have noticed this, absolutely nobody has noticed the complete detonation of rare gold coin prices this year. While the price of gold is near its highs, coins have gotten crushed - creating what I believe is the buy of the century in pre-1933 graded U.S. gold coins. Full Story |
By: GoldSeek.com - 27 November, 2006
COT Gold Report - November 27, 2006 Full Story |
By: SilverSeek.com - 27 November, 2006
COT Silver Report - November 27, 2006 Full Story |
By: John Rubino, DollarCollapse.com - 27 November, 2006
Thanksgiving weekend wasn't exactly peaceful for the world’s central bankers. On Friday the dollar capped a down week with a near-vertical fall that only stopped because the markets closed. So while the rest of us were watching TV and blissfully pigging out, our economic policy makers spent two anxious days contemplating Monday’s open and the possibility that, with global trade imbalances at unsustainable levels, China actively diversifying out of dollars and Iraq dissolving into civil war, the dollar has finally entered its death spiral. Full Story |
By: Eric Hommelberg - 27 November, 2006
In case you’ve missed it, the euro broke out above the 1.30 mark for the first time since April 2005. This certainly doesn’t bode well for the dollar and is clearly bullish for us gold bugs indeed. Needless to say the recent dollar drop reflects the lack of confidence in the once almighty dollar and supporting the dollar by buying up ever increasing dollar quantities seems to be impossible since many of the large dollar holding countries are looking for ways to diversify out of the dollar. This piece will focus on the forces dragging the US dollar down thereby strengthening the investment case for gold. Full Story |
By: Alf Field - 27 November, 2006
Gold Update IX indicated that there was a high probability that the 5 month correction in the gold price finished at the $560.7 London PM fixing on Friday 6 October 2006. That is exactly what happened. Full Story |
By: Rick Ackerman, Rick's Picks - 27 November, 2006
Pretty sneaky for the world to frag the dollar the other day, when U.S. markets would surely have preferred to loll about in a traditional Friday-after-Thanksgiving stupor. So what’s next for the greenback? A Christmas-Eve gang-bang, perhaps? In any event, we should always pay close attention when the dollar is getting savaged, since the sums involved are probably sufficient on a bad day to topple the global financial system from its already wobbly pins.. Full Story |
By: Chintan Karnani, Insignia Consultants - 27 November, 2006
History has repeated itself in 2006. In 2005 Thanksgiving vacations gold and silver zoomed courtesy Japanese fund managers and Chinese demand. Full Story |
By: Clive Maund - 26 November, 2006
The dollar plunged with startling ferocity late last week, driven by heavy selling. This was very bearish action that signals panic, and the probable onset of a severe downtrend. A break below the crucial support at 80 on the dollar index is expected to mark the transition from a clandestine unloading of dollar assets to an all-out stampede to “get what you can for them” before it’s too late. Full Story |
By: Captain Hook - 26 November, 2006
For the record, at the time of writing this analysis we went to neutral from being bullish on future prospects for the stock market, which also happens to be our current position short-term. Longer – term we are bearish on the broad market and endeavoring to identify a high confidence intermediate – term shorting opportunity for the benefit of our subscribers. Below is just a small example of the monitoring of key factors in this regard, where process continues to unravel before our very eyes. Full Story |
By: Greg Silberman - 26 November, 2006
Gold is also outperforming other real Assets such as Energy and Industrial Metals. The last time that happened was in 2000 before the last Bear market in stocks. This is early confirmation that growth is slowing and a shift to less risky assets is underway. The Fed’s response will be predictable - more money printing! I am beginning to think the only way the monetary universe will correct is for Gold to move a lot higher against all paper assets and other commodities. As a result, the next 12 months should be very exciting for Gold Stock Investors! Full Story |
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