Gold remained near unchanged in Asia, fell about $5 in London, and dropped to as low as $605.90 in early New York trade before it rebounded slightly into the close, but it still lost 1.36% on the day. Silver rose slightly in early Asian trade before it fell about 10 cents in late Asian trade and then dropped another 30 cents in London ahead of a further 20 cent loss in early New York trade to as lows as $11.93, but it then rebounded a bit into the close and ended 3.42% lower on the day. Full Story
Not even the first mote of dust had settled on the first edition of Casey Gold Stock Companion when, on August 31, two of our recommended issues, Goldcorp and Glamis, announced an agreement to merge. Under the terms, Glamis will be absorbed by Goldcorp, and each share of Glamis stock will be exchanged for 1.69 shares of Goldcorp stock. The merger must be approved by a two-thirds vote of Glamis shareholders -- which, for reasons explained below, seems close to certain. Full Story
References and claims have been made lately that the US Treasury market has it wrong, that the long-term yields should be much higher in accordance to the troublesome stubborn rising price inflation. Let me go on record to stand in measured disagreement but in spiritual support. Numerous are my reasons to take exception to notable respectable analysts such as Peter Schiff. He points to rising prices, inflation expectations, economic growth, the USDollar in “The Bond Market Has It Wrong” last month. These are some of the most important concepts at work, especially growth taking precedence over inflation. Evidence is exhibited of price inflation, sluggish growth, and a teetering currency. But so what? Full Story
By: Adam Hamilton, Zeal Intelligence - 8 September, 2006
From August 28th to September 5th, the venerable HUI gold-stock index rallied an impressive 8.7%. Not surprisingly since gold is the primary driver of gold stocks, gold was also up 4.6% over nearly this same period of time. This HUI outperformance of gold over the past week confirmed the seventh HUI/Gold Ratio buy signal of our gold-stock bull to date. Full Story
By: Gary Dorsch, Editor – Global Money Trends Magazine - 8 September, 2006
It’s easy to call an opponent’s bluff in a game of high stakes poker, when you hold four Aces, and your only worry is being trumped by a straight flush. By camouflaging its refusal to cease uranium enrichment with a detailed offer for "dialogue,” Tehran scoffed at UN Security Council Resolution 1696, which called for Iran to suspend its uranium enrichment by August 31st, or face economic and diplomatic sanctions. Full Story
By: Rick Ackerman, Rick's Picks - 8 September, 2006
Several subscribers who dropped by the Rick’s Picks chat room yesterday morning were looking for a promising spot to buy gold, which earlier in the day had taken a pretty nasty hit. My advice was to wait until gold itself has signaled the all-clear, an event which has yet to occur but which has been anxiously anticipated by gold bugs ever since bullion prices began a major correction in mid-May. Unfortunately, even after diving $23 yesterday, December Gold looked more like a candidate for shorting than for bargain hunting. The futures barely bounced from their intraday lows near $621, and as the night session began they were timidly probing the upper limits of a $5 recovery range. Full Story
The market back below the 60-day moving average suggests the longer-term trend could be turning down. Stochastics are at mid-range but trending higher, which should reinforce a move higher if resistance levels are taken out. The close under the 18-day moving average indicates the intermediate-term trend could be turning down. The gap down on the day session chart is bearish with more selling pressure possible today. The defensive setup, with the close under the 2nd swing support, could cause some early weakness. The near-term upside target is at 643.5. The next area of resistance is around 633.1 and 643.5, while 1st support hits today at 616.7 and below there at 610.6. Full Story
Gold rose to over $636 in late Asian trade before it fell back near unchanged in London and began to fall off further in late London trade. It then continued to drop for the next 3 hours in New York and fell to as low as $614 before it rebounded slightly into the close, but it still ended with a loss of 2.42%. Silver rose to about $13.10 in Asia and London before it began to fall off in late London trade and continued to fall throughout most of trade in New York to end with a loss of 3.61%. Full Story
The market back below the 40-day moving average suggests the longer-term trend could be turning down. Momentum studies are trending higher from mid-range, which should support a move higher if resistance levels are penetrated. The market's close above the 9-day moving average suggests the short-term trend remains positive. The market setup is somewhat negative with the close under the 1st swing support. The near-term upside target is at 648.9. The next area of resistance is around 644.8 and 648.9, while 1st support hits today at 638.8 and below there at 636.9. Full Story
Gold rose to over $640 in Asia but fell back near $635 by the open in London. After trading in a range of about $634 to $639 for most of trade in London and New York, it then fell off further in afternoon New York trade and ended near its lows with a loss of 0.78%. Silver traded mostly slightly lower in Asia and London and rose throughout most of morning trade in New York to over $13.15, but it then fell off in afternoon trade and ended with a gain of just 0.46%. Full Story
In my opinion, one should never become too enamored with any given fundamental fact or any particular analysis technique. The market will always have the last word. However, if the spread analysis continues to work as in the past, the implications are worth noting. Using an average of 130% gain for the latest buy point near 275 implies a price objective for the HUI of about 590 within the next 12 to 18 months. Full Story
By: Julian D. W. Phillips, Gold Forecaster – Global Watch - 6 September, 2006
So we believe that gold is an asset that will hold steady or rise in value 'in extremis', as Greenspan wrote. The value of gold is that it is an instrument of value where no other one is. It is not a 'promise' to pay the bearer', which currencies are, but an asset that can be treated with value in the darkest days of war, even in enemy territory. It is the knowledge that increasingly uncertain days lie ahead that is attracting responsible investor to the gold market. These could well include national governments as well as large institutions. The sight of Central Banks slowing down their own sales of gold stands testimony to this. Full Story
The major trend could be turning up with the close back above the 40-day moving average. Momentum studies are rising from mid-range, which could accelerate a move higher if resistance levels are penetrated. The cross over and close above the 18-day moving average indicates the intermediate-term trend has turned up. Follow through buying looks likely if the market can hold yesterday's gap on the day session chart. The market has a bullish tilt coming into today's trade with the close above the 2nd swing resistance. The near-term upside objective is at 654.0. The next area of resistance is around 651.1 and 654.0, while 1st support hits today at 642.7 and below there at 637.1. Full Story
As expected gold edged past the key technical resistances on retail investment demand and hedge fund demand. Copper and other base metals also rose on expectations that production will not be able to keep pace with rising global demand. Full Story
Gold remained near unchanged in world trade on Monday and rose slightly in Asia and London today before it jumped about $10 higher at the New York open, fell back off a bit, and then gained about another $5 in late morning trade to end near it highs with a 2.24% gain on the day. Silver rose near $13.20 in late London and early New York trade before it fell off into the close, but it still ended with a gain of 0.39%. Full Story
As we have been expecting the gold indices, the HUI and XAU have now broken out as can be seen on the charts below. The HUI is now clearly above the 350 level and the XAU as of today has cleared the 150 level. We are showing you two charts of each indices at approximately 11:15am (CST); the first chart of each is a 3 month chart and the second is a 6 month chart. Spot Gold and Silver as we write this article is at 639.50 (up 15) and 13.01 (up .09), respectively. Full Story
By: Steven Saville, Speculative Investor - 5 September, 2006
In summary, the oil price does not drive the gold price and the only reason the two markets have similar long-term trends is that they have one important long-term driver in common: monetary inflation. There is, however, an inverse relationship between the oil price and the prices of gold shares, but this relationship only comes to the fore during periods when the oil price is moving sharply lower or sharply higher relative to the gold price. Full Story
The precious metal and industrial metal market sectors have picked up the pace of consolidation via mergers and acquisitions. Today’s announcement between GoldCorp. (GG) and Glamis Gold (GLG) to combine as one entity is another one of many examples of the consolidation that is occurring in the gold and silver mining sector. Full Story
For months on end Gold Stocks have been positively correlated with Stock Averages. Moving lock step with averages such as the Dow Industrials. But what’s this? The Dow broke above resistance at 11250 during the middle of August. The HUI has so far failed to follow suit. Full Story
When Wall Street returns from Labor Day vacation and the end of the historically sluggish "summer doldrums" period of August, it will find more than a few worthwhile trading opportunities from both a momentum and a relative strength standpoint. Full Story
South Africa, pariah of the global AIDS conference, self confessed leader of the AIDS pandemic, inventor of the cure all garlic and beetroot diet for AIDS and leader of the world’s Minister of Health idiots has suddenly decided that there was a missing ingredient from the garlic diet ………… gold!!!!!!!!! Full Story
COMEX GOLD (DEC) 09/05/2006: Stochastics are at mid-range but trending higher, which should reinforce a move higher if resistance levels are taken out. The market's short-term trend is positive on the close above the 9-day moving average. The market tilt is slightly negative with the close under the pivot. The near-term upside objective is at 637.5. The next area of resistance is around 635.5 and 637.5, while 1st support hits today at 629.7 and below there at 626.0. Full Story
Volumes should pick up as the week progresses. Summer is over, central bank manipulation of gold will not last long and gold should soon break free of the recent $616 - $635 trading range. Full Story
Prices in both ETFs are now approaching resistance. If the breakout model is correct, the resistance should not be a problem as prices should exceed it and challenge the May high in the next few weeks. Risk/reward on these two trades are very attractive, as we are risking 2% for a potential 20% return if the May highs are reached, and more if they are exceeded. Full Story
Here is a cornucopia of current crazy myths at work, the underpinnings for each to unravel in tragic fashion. Steadfast belief in them would be funny if not so tragic in doling out misery. The list could fill volumes, but in the interest of time and space, only the major prominent myths are cited. The authors and proponents to each myth should feel shame, but they do not, at least not publicly. My guess is that privately, they might offer derision and contempt for the public who accepts their spun claptrap silly beliefs which hold the system together and keeps the caste structure in place. This list is simply mindboggling. Full Story
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