Gold traded mostly slightly higher in Asia, fell a couple dollars in London, found about $5 gains for most of morning trade in New York, dropped about $10 from its highs after the dollar found strength on some comments from treasury secretary Paulson a little at 11:30AM EST, and closed near its lows with a loss of 0.74%. Silver traded mostly slightly lower in Asia and London before it found nearly 10 cent gains in morning New York trade, but it also fell off after Paulson’s comments and ended near its lows with a loss of 0.87%. Full Story
Only rarely can you look into the economic future and see what's coming… at least in time to take advantage. This is one of those times. After a century of abuse by pandering politicians, encouraged at every step by the clamoring masses, the U.S. economy is headed for an iceberg, Moby Dick and a U-Boat. Full Story
By: Adam Hamilton, Zeal Intelligence - 8 December, 2006
Occasionally in the financial markets an event happens that generates enough interest to transcend the usual sector boundaries. It captures the attention of contrarians and mainstreamers alike, and leads to universal discussions on its implications. The recent sharp slide of the US dollar is looking like one of these events. Full Story
We are going to do it again. We are going to write about that thing that never happens. We are going to write the financial calamity that so many others also write about, but never seems to arrive. And I must admit, to the average Joe out there who just stumbles through life simply reacting to the next stimulus in front of his nose, all this talk about a ‘grand reckoning’ at some point in the not too distant future must seem a bit overdone considering it never arrives. Full Story
A steady, relentless, and nearly perpetual force pushing the USDollar down in the next two years will be the housing bear market. Most economists seem woefully inept and insufferably weighed down by optimism, as they issue silly pronouncements couched as analysis but teeming with nothing but hope and badly disguised promotion. As policy shifts toward relieving the pressure exerted from the housing decline, slightly lower interest rates will matter little. Full Story
Managing volatility is the key in such volatile markets. Yesterday selling seemed that funds have a made excellent profits in gold and silver trade and they just booked some profits at the year comes to an end. Full Story
Gold fell a couple dollars in early Asian trade but rebounded to trade slightly higher by the open in London. It remained mostly slightly higher in London and early New York trade before it dipped to as lows as $624.60 by late morning, but it then rebounded into the close and ended near its highs with a gain of 0.17%. Silver dropped to as low as $13.45 before it rallied fiercely into the close and ended with a gain of 2.21%. Full Story
Spill over selling from Wednesday carried into this morning’s session, with gold prices pressed against the 200 day moving average around $630 per ounce. A little bounce in the dollar helped put pressure on bulls. Surprisingly, the European Central Banks rate hike barely went noticed by the currency and gold market, perhaps the move already factored in. Late in the session though selling stop and shorts covered. Tomorrow’s unemployment report will lend its influence to market direction when its announced at 8:30am EST. Full Story
Through the 1920's, the stock market soared for nearly eight years without a break, but things started to look a little dicey in the Spring of 1929. The market turned volatile as the economy began to falter. The construction industry was sluggish, and manufacturing was in decline. People were in debt and large sections of the population were poor and getting poorer. Full Story
The short term rise in gold seems to be a boom to bust story and investors not yet been convinced about the rise.We still believe that any five percent declines form the current levels should be used as opportunity to reenter gold. Full Story
Gold fell a few dollars in Asia and dropped to about $635 in London before it rallied back a bit in late morning New York trade, but it then fell back off heading into the afternoon, dropped an additional $5 to new lows in the last half hour of trade, and closed with a loss of 1.93%. Silver fell near $13.50 in London before it rallied back above $13.80 in late morning New York trade, but it also fell off into the close and ended with a loss of 2.02%. Full Story
It’s nearing Christmas time, the snow is falling, and so are commodity prices. The bulls had a wonderful Thanksgiving and now its time to let the bears have a few days of glory. The main focus of the recent weakness in the commodity markets over the past few days is profit taking and fund liquidation ahead of the New Year. Gold and silver made great gains in the past two months and we’ll likely see a period of consolidation before moving higher. Full Story
By: John Rubino, DollarCollapse.com - 6 December, 2006
In the financial press, the appeal of gold is often portrayed as a way to protect yourself from "end-of-the-world" events. The press tells us that people buy gold because they are fearful. There is no question that there is some truth to that concept. However, I would argue that the real appeal of gold is that it enables you to protect yourself from constant money creation which erodes the purchasing power of paper currencies. Full Story
For all practical purposes, December 15th is the last real trading day of the year. The last couple of weeks in December are historically thin trading and movements take place in very illiquid markets. The markets worldwide really don’t return to normal until the second week in January (that’s why I’ll be on vacation –more details later). Full Story
If there are forces in the world that make silver prices too low; that is both a blessing and a curse. It is a blessing, of course, if you recognize it, and if you act on what you know, and become a buyer of silver. It is a curse, of course, if you don't recognize it, and if you are an owner, or a seller of silver. Full Story
A sustained move under 80 would be catastrophic for the Dollar in that it would complete a larger Head and Shoulders pattern (blue line at 80 = neckline) with a target below 60! This would be tantamount to wholesale DUMPING of the US$ and in all likelihood an end to its Reserve Currency status. Full Story
Every tom, dick and harry in gold and silver physical trade in different parts of India knows that gold will rise to $700 in the short term and silver over $1600 and that they are all buying on dips (whether physical or otherwise). Full Story
Gold fell near $640 in Asia, rose back near $645 in London, and then rose a few dollars in early New York before it again fell off nearly $10 between 10AM EST and 11AM to as low as $639.10, but it then rebounded a bit into the close and ended with a loss of just 0.37%. Silver saw over 10 cent gains in early New York trade before it also got clobbered just after 10AM EST and dropped to as low as $13.80 before it a rebounded a bit into the close, but it then fell off again in the last hour of trade and ended with a loss of 1.42%. Full Story
By: Dr. Ron Paul, U.S. Congressman - 5 December, 2006
The financial press reported last week that the value of the U.S. dollar plummeted to a 14-year low against the British pound, and weakened against the Euro and Yen. Many financial analysts predict continued rough times for the dollar in 2007, given reduced expectations for economic growth at home and less enthusiasm among foreign central banks for holding U.S. debt. Full Story
By: Steven Saville, Speculative Investor - 5 December, 2006
There is a significant chance that additional weakness in the housing market WILL prompt the Fed to begin reducing the official short-term interest rate target within the next few months, BUT ONLY IF inflation expectations remain under control. On the other hand, if it looks like the gold price is about to breakout to new multi-year highs then cutting interest rates will probably be the last thing on the collective mind of the Fed, regardless of how weak the housing market happens to be. Full Story
For a number of reasons, I have started taking profits on this latest silver rally and I think it could top out soon, and then correct to give us another buying opportunity. First, silver typically sees a correction of some kind every December. Not coincidentally, the RSI indicator is now above 70 (see chart below). When it exceeds this level, a correction tends to follow within 1 to 3 weeks. I expect silver will drop $1.50 to $2.00 this time and will find support around an RSI of 50. This will be a great opportunity to buy more in anticipation of a rally that will exceed the $15 highs of this past spring. Full Story
With the Precious Metals markets heating up once again, and investors, both individual and professionals, considering how to invest appropriately, we thought it would be timely to discuss objectively some of your choices to increase leverage. Full Story
I’m going to depart from my normal message today, namely, the long and short-term investment case for silver. Instead, I am going to ask you to put aside the question of whether the price of silver will achieve dramatic new historical heights and focus on something else. I want you to suspend, temporarily, the continual (and very normal) internal and external debate we all have about the future price path of silver and think of only one thing – that silver does achieve that historic price. Then what? Or more precisely, what does that mean to you? Full Story
Gold and silver are consolidating at the moment but are finding buyers at lower levels. Gold and silver fell yesterday after crude oil prices fell temporarily and thereafter as crude oil prices rose, gold and silver also rose suggesting the direct linkage between bullion prices, the US dollar and crude oil prices. Full Story
Gold rose a couple dollars in Asia, traded near unchanged in London, and then dropped roughly $5 to as low as $640.40 just after 10AM EST in New York, but it then quickly rebounded back near unchanged and remained near that level into the close before it ended with a small gain. Silver traded mostly slightly higher before it also fell off in New York to as low as $13.92 just after 10AM EST, but it also rebounded into the close and ended near its highs with a gain of 0.57%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster – Global Watch - 4 December, 2006
We were surprised to hear that the employees of the International Monetary Fund have actually suggested sales of gold from their stocks to cover income shortfalls they have. We are even more surprised to hear silence from the Members of the International Monetary Fund. The calls they made echoed the calls from the German government and the French government to sell national gold for the same reasons, to shore up shortfalls of income. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster – Global Watch - 4 December, 2006
We are approaching rapidly a series of currency crises of a greater magnitude than ever seen before in history. Whilst the U.S.$ will be the prime recipient of these, many currencies trying to protect their international competitiveness or their own stability will be dragged into the crisis that will affect to a greater or lesser extent the bulk of currencies across the world. Full Story
Gold closed the week out at $650.60 up $15.20 for a gain of +2.39%. It is sitting right below its 61.8% fib retracement level. A break above this level would be very positive. The first chart below shows the various fib levels for gold. Full Story
By: David N. Vaughn, Gold Letter, Inc. - 4 December, 2006
If you are following the markets closely you will notice the dollar has begun a more serious slide as of late. It has begun. And more and more top financial professionals are recognizing these facts. The route out of the dollar will only grow over time but mark my words well that the process has begun in earnest. Full Story
We all know that the current global financial markets are liquidity driven. The US dollar is depreciating; commodity prices as well as the equity markets are rising endlessly. Full Story
Question: Why would the "forces of nature" desire to purposely wreck the U.S. economy, which is the chief engine of growth behind the emerging global economy, by crashing the dollar? Why tear down the super-structure that has taken them years to construct and which has been the major goal of the entire financial Establishment for decades? For what purpose? Has it occurred to anyone that maybe, just maybe, the dollar bears are being set up once again for another false alarm (just like in late 2004/early ‘05)? Something to think about... Full Story
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