Gold fell nearly 1% in Asia and London and remained near $655 for most of morning trade in New York, but it then plummeted about $10 more shortly after 11AM EST and dropped to as low as $644.10 by early afternoon before it rebounded slightly into the close, but it still ended with a loss of 2.18%. Silver plunged to $12.89 before it also rebounded in the last half hour of trade, but it still ended with a loss of 2.99%. Full Story
By: Adam Hamilton, Zeal Intelligence LLC - 8 June, 2007
Two years ago I suspect American investors would have unanimously scoffed at the notion that the world would soon look to China’s stock markets for guidance rather than the USA’s. Yet here we are today. Over these past two years the Shanghai Stock Exchange Composite Index has soared a breathtaking 328%, capturing the world’s attention. Full Story
The Fed can only manage the FF Rate de jure, other bond rates are established by the market - although the Fed CAN monetize this debt by buying it with more newly created fiat money which we suspect they have been doing right along. If not already apparent to most, higher prices for the things we need and buy will be the evidence of reckless money creation of unretired debt. Power to the Bankers! Got Gold? Full Story
We're going to hit an inflection point in the future where the technical trade points aren't going to matter any more; the fundamentals are going to be so attractive for investors, the technical trading picture will get tossed out the window and prices will simply be forced higher; paper trades be damned. Full Story
A complete U turn on US interest rate outlook resulted in sell off on bonds, equities, commodities, currency markets and every financial instrument. I had mentioned previously that lower treasury yields is one of the reason for increase in investor risk appetite. Full Story
Gold traded mostly slightly higher in Asia and London and traded within a couple dollars of either side of unchanged in morning New York trade, but it then fell off markedly in afternoon trade and dropped to as low as $657.40 before it rebounded in the last half hour of trade and ended with a loss of 1.32%. Silver dropped to as low as $13.36 in afternoon trade before it also came slightly off its low in the last minutes of trade, but it still ended with a notable loss of 2.05%. Full Story
South African gold production fell another 8.2% year-over-year for the month of April. This follows a nearly 8% drop for first quarter production. After the lowest annual production totals in nearly 80 years in 2006, SA production has continued to slip. Should this 8% drop hold for the remaining eight reporting months of the year, South African production will be down another 24 tonnes from 80 year lows. Full Story
Metals and energy markets were unaffected by the fall in global stock markets. The US dollar is trading with a weaker bias even with the yen. Full Story
Gold traded about $2 higher in Asia before it fell back off in London and came into New York about $2 lower. It then spiked back over $670 between 9AM and 10AM EST before it dropped over $5 between 10AM and 11AM EST to as low as $664.50 at one point, but it then rallied higher for the rest of trade and ended with a loss of just 0.13%. Silver dropped to about $13.56 on several occasions in morning New York trade before it rallied over 10 cents off its low in the last few hours of trade and ended with a loss of 0.51%. Full Story
With the White House cutting GDP expectations from nearly 3% to 2.3% in 2007, the markets have already started flipping on themselves in a short period this morning. Should the Fed continue to harp on moderate inflationary levels in the market while the growth component is seeming to break down in short order, it would seem that there is a major disconnect between reported and actual inflationary levels. It will be a tall order for Bernanke and company to continue calling for vigilance in maintaining interest rates with reports showing 2% inflation at the same time growth is trending downward rapidly. Full Story
The European central bank meeting has resulted in currency traders as well as precious metal traders to remain on the sidelines. European central bank chief Trichet is under political pressure not to raise interest rates in future. Full Story
Gold traded mostly slightly higher in Asia and London and rose over $673 in early New York trade, but it then sold off about $4 between 9AM and 10AM EST, remained near its lows for most of the rest of trade, and ended with a loss of 0.16%. Silver held strong despite gold’s weakness and rose near $13.80 in late morning trade before it fell back off slightly in early afternoon trade, but it still ended with a gain of 0.73%. Full Story
We finally have a buy signal in the gold sector this week. For risk management, we will maintain tight stops and only add to positions upon further set ups. Full Story
We are living in a paper market. Global stock markets are rising endlessly which has been the prime reason for global growth. Some call it financial leverage and by different names. But the key is global growth is all about paper. Full Story
Gold fell a couple of dollars in Asia before it drifted back near unchanged in London and then rose in late morning New York trade to about $674 at one point, but it then fell back off into the close and ended with a gain of just 0.03%. Silver rose to over $13.75 by late morning, but it also fell back off into the close and ended with a loss of 0.37%. Full Story
The chart shows the bear and bull markets in gold during the past 11 years or so. Prior to 1996 gold was at $500 in late 1987 (remember THAT year?) and declined to the $330 level by early 1993. A small rally and a few years of lateral activity and we get to the 1996 top shown here. We are at levels that have only been exceeded for a very few weeks back in 1980. Full Story
We have seen that gold and silver had a pretty good week, but remember – that’s partially because they have had some pretty awful weeks. That is not meant to diminish the price action, just to keep it in its proper perspective. The gold and silver stocks had an even better week compared to the metals, which is a very constructive positive divergence. The pm market is always strongest when both the stocks and the metals are advancing together, with the stocks advancing the strongest (at about a 3 to 1 ratio to the metals). Full Story
I am very happy over silvers rise last week. It has been an underperforming metals in 2006 and so far in 2007. Silver has gained in 2007, but gains has not been spectacular. Full Story
Featured is the daily bar chart for silver. The main trend is clearly defined. The blue arrows point to the upside break-out, in price and in the supporting indicators. The green arrows are the likely targets for this move. The 50DMA (solid blue line), and the 200DMA (solid red line), are in positive alignment, and both are in ‘up-mode’. ‘It’s the REAL THING!’ 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.
