- 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?
- Yen Falls 2.1% To 0.148 Million/Oz - BOJ, ECB, FED and BOE Continue to Debase
April 04 2013 9:02 AM
Today’s AM fix was USD 1,545.25, EUR 1,207.42 and GBP 1,025,65 per ounce. Wednesday’s AM fix was USD 1,568.50, EUR 1,222.81 and GBP 1,038.40 per ounce. Gold fell $17.30 or 1.1% yesterday while silver fell 28 cents or 1.03% on the COMEX yesterday.
- Lear Capital: Gold Investors Lick Their Chops as Global Tensions Rise
April 03 2013 9:35 AM
As gold prices drift lower, savvy gold investors ponder the true state of the economy, rising debt and the growing threat of a North Korean conflict. At present, gold seems to be ignoring the huffing and puffing of North Korea. Surely, though, if one shot is fired the world becomes a different place. If no shots are fired, the cost of the military build-up will weigh heavy on our budget.
- Is Anyone Still Interested in Gold?
April 02 2013 5:56 PM
The recent price action of gold has been frustrating for some people. The precious metal logged its second consecutive quarterly loss and remains in consolidation mode amid the greatest financial crisis since the Great Depression. However, there are still plenty of buyers around the world that are interested in gold.
- India Confirms No New Gold Tariffs
April 02 2013 9:24 AM
London AM fix was USD 1,597.75, EUR 1,244.64 and GBP 1,051.64 per ounce. Friday, March 28th London AM fix was USD 1,602.50, EUR 1,253.13 and GBP 1,057.41 per ounce. Silver is trading at $28.04/oz, €21.94/oz and £18.54/oz. Platinum is trading at $1,593.25/oz, palladium at $771.00/oz and rhodium at $1,200/oz. Gold fell $0.90 or 0.06% and closed yesterday at $1,598.50/oz. Silver closed at $28.01, down 1.44%.
- Gold vs. S&P 500 – Where is the Value?
March 28 2013 3:53 PM
This past week we received the final 4th Quarter GDP number which came in at 0.39%. The total 4th Quarter growth was terrible, plain and simple. Based on the performance in the equity markets that we have seen thus far in the 1st Quarter of 2013 investors would expect strong GDP growth. However, the only thing spurring stock market growth is the constant humming of Ben Bernanke’s printing press.
- No Significant Capital Flows Into Gold From So Called ‘PIIGS’ Yet
March 28 2013 11:17 AM
Today’s AM fix was USD 1,602.50, EUR 1,253.13 and GBP 1,057.41 per ounce. Yesterday’s AM fix was USD 1,591.00, EUR 1,243.75 and GBP 1,052.39 per ounce. Silver is trading at $28.60/oz, €22.44/oz and £18.97/oz. Platinum is trading at $1,583.00/oz, palladium at $768.00/oz and rhodium at $1,200/oz. Spot gold and silver closed at $1,606.40/oz and $28.79/oz.
- If You Don’t Own Your Bank Deposit, Do You Own Your Gold?
March 28 2013 10:22 AM
When it was announced that both large and small depositors were to have a percentage of them seized, it was not the amount that horrified the world but the discovery that you do not own your own bank deposits. Most investors worldwide are of the belief that when you deposit your money in a bank, it simply has safe-keeping of that money. The realization that you have lent the bank your money and are an “Unsecured Creditor” of the bank is an unpleasant revelation.
- Spot Gold Forecast for 03/27 by Daytradeideas.com
March 27 2013 8:50 AM
Spot Gold could start to come under pressure again now. We held just below resistance at 1603 and as expected we did fall back to 1595 but this held the downside. If we break below this support today, as seems likely we look for 1590/1588 with a chance of a bounce from here. However any longs attempted will need a stop loss below 1587 for a test of the next support at 1582/83. A push back above 1604 looks unlikely but if seen could allow gains as far as 1609 where we could attempt shorts with a stop above 1612.