Jon Nadler

Senior Metals Market Analyst

The China Syndrome

Bullion values turned lower once again following yesterday's GDP-related and mostly technical bounce. Overnight trading brought prices down to a low of near $906 per ounce, as the US dollar picked up a few notches on the index (@ 73.30) as well against the euro which fell after BMW abandoned sa... (Aug 01, 2008 8:56AM)

Are you now, or have you ever been...in a recession?

Following a day of double-digit losses, gold prices stabilized near $910 per ounce and were able to briefly rise as high as $926 following the release of US economic data. A mixed bag that was, indeed. While fourth quarter 2007 showed a negative rate of growth, second quarter progress was made at an... (Aug 01, 2008 8:29AM)

Rules? We Don't Need No Stinkin' Rules!

Following a day of double-digit losses, gold prices attempted to stabilize near $910 per ounce in overnight Asian trading. Equal attention was given to rising Eurozone inflation (coming in at 4.1% - more than twice the ECB's target and to the possibility that US GDP might have recorded a growth... (Aug 01, 2008 8:17AM)

Gold Penetrates the $900 Floor

We alluded this morning to the complacency (stubbornness?) seen among gold timing newsletters as observed by Mark Hulbert. It turns out that his contrarian indicators may have been spot-on, at least for the past two sessions of what was supposed to be a breakout week to the upside in gold. (Jul 30, 2008 1:38PM)

Vive La Resistance? Bullish Scribes Dig In

Gold extended its losses in overnight Asian and European trading, despite a minor slip in the dollar to 73.25 on the index, and it was also derailed by a further 75 cent drop in crude oil to $121.50. The $915 support was convincingly breached and while overnight lows came in near $903, at this point... (Jul 30, 2008 1:37PM)

Beware of Strange Men Bearing Gifts

As mentioned this morning, gold prices were under the potential threat of an outside factor dragging them down to the important $915 support area. That market-moving factor turned out to be the combination of cause and effect fallout from rising US consumer confidence, a strengthening dollar and a f... (Jul 29, 2008 3:44PM)

The name is, Bond. Covered Bond.

Bullion prices tried to advance once again overnight but their progress was halted by slack demand and overhead resistance near $935. Thus far, the yellow metal has offered little more than a technical bounce after last week's drops and remains range-bound in the absence of external market-movi... (Jul 29, 2008 1:53PM)

Perfect Sturm und Heavy Drang - July 28

Bullion prices tried for higher ground as the new week began, and for the most part were successful in maintaining near the $930 level as stocks took another beating on financial worries and crude oil advanced a bit on the day. A variety of localized geopolitical hotspots continued to lend support t... (Jul 28, 2008 3:49PM)

You are not Mr. Godot, Sir?

Bullion prices tried for higher ground as the new week began overseas amid a variety of localized geopolitical hotspots. Bombs exploded in a variety of locations around the world (Turkey, Iraq, India, Gaza, Pakistan) keeping global worries on full boil. Rising prices once again dented Indian demand ... (Jul 28, 2008 3:04PM)

ABCs of ETFs = Fallout #1 - Additional Volatillity

After a tumultuous week, gold market action was quite lackluster on Friday. Bullion prices were down most of the morning and finally tried to turn slightly higher late in the day, dropping by only $0.20 at last check, to $926.25 spot bid. Most of the activity today was book-squaring related but two ... (Jul 25, 2008 2:28PM)

Of (greedy) Men and of (putative) Angels

Gold's late afternoon and overnight rebound continued albeit muted physical demand kept prices under $936 ahead of the NY opening. Crude oil prices gained for a second day as Nigerian militant threats and continued stalling by Iran on a response to the package of carrots and sticks it recently ... (Jul 25, 2008 2:22PM)

You say yes, I say no / I say high, you say low

Gold prices spent the day in a range of from $915 to $932 but ended with the August contract marginally lower and with spot prices orbiting the $925 area at last check this afternoon. The gold ETF lost nearly 17 tonnes of metal in yesterday's massive commodity sell off and more than 32 tonnes ... (Jul 24, 2008 3:52PM)