Gold

March 20 2013 8:33 AM

With Argentina printing pesos to finance itself, the growth of pesos in the economy has rose 38% in the past year, leading analysts to predict that the currency will depreciate 12.9% through year-end, the highest of currencies tracked by Bloomberg.

March 18 2013 12:35 PM

There are many assets to choose from in the financial system, but “safe” assets are a different story. The U.S. dollar is considered to be a safe-haven due to its world-reserve currency status. It is found throughout many countries, and is backed by the world’s largest economy and military. However, central banks around the globe are making changes to their reserve portfolios.

March 14 2013 10:38 AM

We have seen a great deal in the media about the best place to hold your gold, so would like to address the issue in real terms. So many assumptions are made by investors holding gold and silver that are not based on either real experience or on an understanding of how the monetary authorities work, leaving precious metal investors wide open to losing their gold to their governments, despite what they thought were adequate steps to prevent such an eventuality. If hard-pressed, many of the storage schemes available will admit to their systems being inadequate to halt the various financial agencies from knowing who they are, what they hold, and to preventing these agencies from accessing this gold in ways used in the past.

March 13 2013 8:50 AM

Gold remains near the highest level in almost two weeks on prospects of further currency debasement from central banks in Europe, Japan, the UK and the U.S. and continuing robust physical demand in Asia.

March 13 2013 7:02 AM

While the U.S. dollar is still the primary global currency, its long-term dominance is less certain.

March 12 2013 8:31 AM

Spot Gold held a very tight range last week from 1561 up to 1586/87 so we watch these parameters this week. Below 1579 we could test support at 1569/67 again today & a break below last week’s low of 1561 could signal a retest of February lows at 1555. We will need to hold above 1579/80 for another test of 1586/88 resistance. This could hold the top of the market again today but if we start to push higher look for 1595 with 1605/09 the target above.

March 11 2013 9:22 AM

Hedge-fund managers and other large speculators decreased their net-long position in New York gold and silver futures last week (week ended March 5), according to U.S. Commodity Futures Trading Commission (CFTC) data.

March 08 2013 8:03 AM

We all know that sentiment on Gold is quite bearish. Rather than post numerous charts which you’ve likely already seen, I want to note some of the recent statistics. By recent, I refer to the past two weeks. Market Vane’s bullish consensus for Gold hit its lowest since 2001. SentimenTrader.com’s public opinion, which combines various surveys, touched its lowest level since 2004. GLD has seen outflows for 41 consecutive days. It’s monthly outflow was the largest since inception in 2007. According to BullionVault and COT data, speculative bets against Gold are the highest since 1999. The recent commercial short position was at its lowest since late 2008.

March 07 2013 8:49 AM

Spot Gold held support at 1569/67 & held 1587/88 resistance as predicted. The same levels apply for today. Below 1579 we could now test support at 1569/67 again today & a break below 1565 could signal a retest of February lows at 1555. We will need to hold above 1579/80 for another test of 1587/88 resistance. This could hold the top of the market again today but if we start to push higher look for 1595 with 1605/09 the target above.