Gold Gains As 14% Plunge Overdone - Speculators Sell, Central Banks To Buy
April 16 2013 8:29 AM
Gold rebounded as store of value and diversificaiton buyers deemed a 14% plunge over two days to be excessive and an Asian central banker said that policy makers may take the opportunity to buy.
Gold Bulls Need To Learn the Importance of Stopping Out
April 15 2013 4:46 PM
Over the last 10 years, gold bulls have had a fantastic run as gold rose more than 475% to its August 2011 highs. Even after the recent collapse in gold prices the metal is still up more than 350% in the last decade; the simple strategy of “buy the dip” has yielded enormous profits. Gold bulls have been able to make gains for years by merely buying gold whenever the price dropped as the next rally would result in new highs before a great deal of time had passed. This however raises the question of “what happens when gold does not make new highs?” The answer is that those who have been employing this strategy lose money; gold dips and the perma-bulls buy, gold dips again so the perma-bulls buy again, gold continues on a downward trend and the once profitable strategy of “buy the dip” soon eats away at the profits that it once generated.
The Bottom Falls Out From Under The Price Of Gold
April 15 2013 4:18 PM
The 12-year-old bull market in gold appears over. Analysts search for an explanation why the market virtually crashed.
Gold May Have a Lot Further to Fall According to this Analyst
April 15 2013 12:31 PM
Monday morning, Dennis Gartman, talking about the recent gold price action, said to CNBC: "Here we are under [$1,400]. Who would have thought it? Not I." If one analyst is correct, Gartman is about to be even more shocked. Technical analyst Stephanie Aymes at Societe Generale believed the recent price action will send gold to $1265 within the next one to three months, according to a report published Monday.
Massive $20 Billion Paper Gold Sell Orders Trigger Stop Loss Selling And Unfounded Panic
April 15 2013 10:22 AM
Gold and silver were both down for the week - 5.76% and 4.14% respectively. There is blood running in the gold market this morning after vicious selling which began on Friday afternoon and continued in Asian trading and through into European trading. Gold has fallen another 4.4% today after a huge number of stop loss orders were triggered at $1,480/oz pushing gold lower.
Is Gold as Precious as it Once Was?
April 15 2013 10:15 AM
Gold has been taking a beating in the New York Mercantile Exchange over the past few months as the price of gold continues to plummet. Gold hit a record low in nearly two years on Friday when gold fell under $1,500 an ounce igniting stop losses worldwide. It’s leading many investors wondering if Gold is as precious as it once was.
Five Reasons Gold is Down 7 Percent Monday
April 15 2013 9:28 AM
Gold is down again on Monday and by down, we mean plummeting. As of 6:00 am EST Monday, gold is down more than $100, trading below $1,400. That’s a seven percent drop. Silver is having a bad Monday too, but what’s interesting is that a six percent drop in the most talked about of all metals is receiving a relatively small amount of press.
Gold Glitters Even Less - How Low Can It Go?
April 15 2013 8:57 AM
Last week, two major institutions, Societe Generale and Goldman Sachs, recommended clients make bets that the price of gold would fall.
Damaged Gold/Stocks Ratio, Yen Next?
April 12 2013 12:36 PM
Falling gold may well be blamed on growing signals from Federal Reserve officials considering slowing down the pace of asset purchases from its current $85 bn/month. But the metal selloff is also joining a broad decline in commodities this year. Out of a group of 18 commodities (metals, energy and agriculture), only 5 are up (WTI, gasoline, natural gas, palladium and cotton).
Cyprus Denies Gold Sale - Debtors Sell Gold; Creditors Buy
April 11 2013 9:35 AM
Today’s AM fix was USD 1,555.75, EUR 1,012.20 and GBP 1,189.59 per ounce. Yesterday’s AM fix was USD 1,581.50, EUR 1,207.16 and GBP 1,032.24 per ounce. Gold fell $26.20 or 1.65% yesterday to $1,558.50/oz and silver slid to $27.50 and finished -1.29%. Minutes from the U.S. Fed’s 20th of March meeting were released early yesterday due to an early exit by Congress yesterday afternoon.
Why Gov’t Control over Financial Markets has to Grow!
April 11 2013 8:27 AM
Quietly, but thoroughly, governments and the banking system have taken an ever increasing role in every aspect of the economy and individual’s lives. Where in the distant past cash was the only means of exchange, cash is now controlled by the banking system and cash transactions reduced to a miniscule role in all our lives. Even in Cyprus after the ‘confiscation’ of deposits, cash is rationed and transactions within the banking system are allowed up to €200,000 before a ‘bank committee’ has to approve them. The banking system is answerable only to government. Government is grateful to the banking system because government has a means of visible monitoring and controlling its citizen’s financial affairs. Through the banking system, government is able to control our financial lives as never before. Cyprus demonstrates how that control will be increased even in crises caused by themselves.
Gold Record High in Yen - Rush to Sell Jewelery, Buy Coins and Bars
April 10 2013 9:38 AM
Today’s AM fix was USD 1,581.50, EUR 1,207.16 and GBP 1,032.24 per ounce. Yesterday’s AM fix was USD 1,572.50, EUR 1,205.26 and GBP 1,026.50 per ounce. Gold climbed $12.20 or 0.78% yesterday to $1,584.70/oz and silver surged to a high of $28.06 and finished +2.68%.
Every Gold Coin Has Two Sides
April 09 2013 2:03 PM
Just as every coin has two sides, every data point that doesn’t meet expectations usually has an upside somewhere. For instance, although the gold price has fallen with the strengthening U.S. dollar, the yellow metal is appreciating in Japanese yen. So when negative news about the economy came out this week, along with the U.S. Labor Department reporting that the country added only 88,000 jobs in March, investors found reasons to be encouraged.
What Drives the Gold Price?
April 09 2013 9:32 AM
There is still an incredible amount of misunderstanding on Wall Street about the relationship between the price of gold and the true value of the U.S. dollar. Most pundits simply claim that a rising dollar, as measured by the Dollar Index (DXY), causes gold prices to fall…and that is the end of their analysis.
The Day the Government Seized Americans' Gold - April 5th 1933
April 09 2013 9:27 AM
Alix Steele reports on the 1933 declaration by U.S. President Franklin Delano Roosevelt to have American’s turn in their gold on Bloomberg TV’s “Lunch Money”. “80 years ago on April 5th, 1933, was the day that the federal government took all our gold and changed the precious metals as we know it,” said Alix Steel.
George Soros: Gold No Longer a Safe Haven, But Central Banks Will Support Prices
April 08 2013 5:00 PM
On Monday, gold (NYSEARCA:GLD) futures for June delivery, the most active contract, dipped $3.40 to close at $1,572.50 per ounce, while silver (NYSEARCA:SLV) futures for May edged 8 cents lower to finish at $27.14.
Global Deposit Confiscation Called For By Influential CEO Of Italy's Largest Bank
April 05 2013 9:18 AM
Today’s AM fix was USD 1,552.75, EUR 1,201.35 and GBP 1,019.60 per ounce. Yesterday’s AM fix was USD 1,545.25, EUR 1,207.42 and GBP 1,025,65 per ounce.
The Long and Winding Gold- (Bull Cycle about to Begin)
April 05 2013 8:42 AM
The dramatic 2-3 day take down in Gold Spot pricing action smells and looks like capitulation to us at The Market Trend Forecast. We have been calling this entire 19-20 month consolidation period as a Primary wave 4 correction pattern, though complicated for sure. It has had multiple false rallies and buy and sell signals the entire time. With that said, the pattern is set up for final 5th wave decline which we are seeing now at the beginning of April.
Charts to Provide Perspective for Gold Bulls
April 05 2013 8:35 AM
Most chartists use daily or weekly charts. Few look at monthly charts. I don’t know of anyone (myself included) who pays any attention to quarterly charts. We decided to take a look at the quarterly chart of the HUI gold bugs index. It is below and we note the two big downturns in the market. Also note the importance of 300 which has been support for the past seven years.
What Does the Future Hold for the Average Investor?
April 04 2013 5:05 PM
Four investors with jobs outside the investment field are looking at what they should invest in so they can achieve a comfortable retirement. What should they consider when looking ahead? These four investors have different ages, one with 10 years to retirement, one 20, one 30 and one forty years to go before they can sit on a beach, grey haired, a little portly, next to a surf board, feeling they can now age graciously, comfortable and without fear for their financial future. That’s what so many believe the future holds for them. But is that realistic, can investments produce that for him?