- Record Silver Eagle Sales - SocGen Say Silver “Cheaper Alternative To Gold”
March 05 2013 9:34 AM
Silver is trading at $28.93/oz, €22.30/oz and £19.16/oz. Platinum is trading at $1,588.50/oz, palladium at $722.00/oz and rhodium at $1,200/oz.
- Spot Gold Forecast for 03/05 by Daytradeideas.com
March 05 2013 8:57 AM
Spot Gold broke 1584 & fell all the way back to 1565. Support 1569/67 held yesterday as expected and could hold any weakness again today. However a break below 1565 could signal a retest of February lows at 1555. It does look like we can hold above 1579/80 for 1587/88 resistance. This could hold the top of the market today but if we start to push higher look for 1595 with 1605/09 the target above.
- China’s $3.3 Trillion FX Reserves Could Buy All World’s Gold Twice
March 04 2013 10:25 AM
Concerns about the global economy and the outlook for riskier assets have led to renewed physical buying interest in Asia, particularly in China. The increasingly popular gold forward contract on the Shanghai Gold Exchange stood at 320 yuan a gram by 0741 GMT according to Reuters, or $1,600/oz. This is a healthy premium of about $23 to spot gold.
- Spot Gold Forecast for 03/04 by Daytradeideas.com
March 04 2013 9:10 AM
Spot Gold broke 1584 & fell all the way back to 1565. Support today seen at 1569/67 and this could hold any weakness. However a break below 1565 could signal a retest of February lows at 1555. It does look like we can push back above 1579/80 resistance for 1587/88. This could hold the top of the market today but if we start to push higher look for 1595.
- Gold Bullion & Miners' Race to the Bottom
March 01 2013 10:54 AM
Since equities had reached bottom in June 2012, major indices have rallied 21% to today, compared to -1% for gold bullion and -20% for the Gold Bugs index – An index of the 16 most popular gold mining companies. The Gold Bugs index has fallen 31% from its September high, while the yellow metal dropped 13% from its October high. A similar 2.5-1 disparity in GoldBugs-Bullion Sell-off was seen during the 2008 crisis, when bullion fell 33% from its 2008 peak to its 2008 trough, while Gold Bugs fell 71% during the same period.
- Gold Down In February - Weak Hands Sell On Poor Sentiment; Smart Money Holds Or Adds To Positions
March 01 2013 9:01 AM
Despite the very negative sentiment, gold was more resilient in other fiat currencies. In euros and pounds, gold only fell by 1.1% and 0.7% respectively. For the month, gold fell just over £8 from £1,049/oz to £1,041/oz and from €1,225/oz to €1,210/oz.
- Will We See Consolidation in Gold Mining Industry?
March 01 2013 8:16 AM
As the gold mining sector plunges to the end of a cyclical bear market, one wonders if this ongoing selling climax will precipitate a catalyst for more mergers and acquisitions in the industry. The last 12 years tells us that these transactions tend to follow the market itself but with a lag. Peaks in M&A activity (in global mining) in terms of number of transactions and value occurred in 2006-2007 and 2010-2011 while troughs occurred in 2002 and 2008-2009. According to Ernst & Young, 2012 had the lowest number of global mining deals since 2008 and the lowest in terms of value since 2009. On a smaller microeconomic level, the current depths of the junior mining industry and low share prices across the board should provide a catalyst for more deal flow. Going forward I believe we will see industry consolidation but in two separate different phases which will produce different winners.
- “Catastrophe For The Euro” To Lead To Real European Flight To Gold
February 28 2013 10:44 AM
After the fall of yesterday, gold recovered in Asian trading and traded over $1,604/oz prior to renewed selling sent prices below $1,600/oz again. Gold rebounded on concern that automatic U.S. spending cuts that are due to take effect from tomorrow may hurt the recovery of the U.S., still the world’s largest economy.
- Spot Gold Forecast for 02/28 by Daytradeideas.com
February 28 2013 9:51 AM
Spot Gold has fallen back as predicted to hit the 1588/87 target. We stated that we are unlikely to fall any further for this correction & so far we are holding above this support. We now look for a move back up to 1595 and then 1603/04. A push through 1609 then target the week’s high at 1619/20 then Fibonacci resistance at 1625 is expected to trigger profit taking once again. If however we break below 1584 we could test the next support at 1580/79. If this does not hold look for 1570/69.
- Fed To Prompt Currency Crash and Return to Gold Standard
February 27 2013 11:10 AM
Gold’s 1.3% gain yesterday was its biggest one-day gain in three months, as Federal Reserve Chairman Ben Bernanke's defense of U.S. debt monetisation confirmed bullion's inflation hedging appeal.
- Lear Capital: Dave’s Top 10 Reasons Not to Buy Gold!
February 26 2013 8:38 AM
“Fair, balanced and unafraid.” That is the mantra of Brett Baier as he ends his daily broadcast of the Special Report (@SpecialReport) on the Fox News Channel. It got me thinking. It’s no secret that I believe every saver and investor should own some gold. Diversification is the key – don’t keep all your eggs in one basket – spread the risk – blah blah blah!
- Renewed Contagion Concern After Italian Election - Stocks Fall, FX Volatility And Gold Rises
February 26 2013 8:33 AM
Gold inched above $1,600/oz today, extending gains from the previous session and into the fourth straight session as uncertainty over Italy's election results stoked renewed fears that the euro zone debt crisis is set to return, and increased demand for the yellow metal. Italy’s politics were turned upside down yesterday after the election resulted in the dissident, 5-Star Movement of comic Beppe Grillo creating the strongest party in the country, but left no group with a clear majority in parliament. This political uncertainty weighed on the euro as Italy is the Eurozone’s 3rd largest economy.
- A Test of Strength for Gold
February 25 2013 5:31 PM
When investing in gold, I often say diverse opinions promote critical thinking and a healthy market. I believe elevated groups of buyers and sellers create a competitive tug-of-war in the bid and ask price of the precious metal. Last week, we saw the gold bears growling louder and gaining strength, as the world’s largest gold-backed ETF, the SPDR Gold Trust, experienced its largest one-day outflows since August 2011. The Fear Trade fled the sector following the Federal Reserve’s meeting that revealed a growing dissension among some of its members over the central bank’s bond-buying program.
- Gold Price Climbs, Miners Follow
February 25 2013 12:09 PM
The gold price climbed $6.50 to $1,587 per ounce Monday morning, advancing on the back of a flurry of supportive macro-economic news. Stifel Nicholas highlighted “headlines that Russian and Kazakhstan gold purchases are up, UK debt has been downgraded, Japan goes ahead with “easing” nominee” and “the US Adjusted Monetary base is up…again.” Silver followed the price of gold higher, rising roughly 1% to $28.95 per ounce. The U.S. dollar traded weaker against the euro, reversing some of the strong gains witnessed in 2013.
- Sterling Falls As UK Downgraded - Gold In GBP 1.8% Higher YTD
February 25 2013 9:29 AM
Gold climbed in Asia, pulled back and then continued higher in Europe. Investors remain wary over the Italian election result and the risk of contagion to the monetary union. Exit polls will be published around 1400 GMT. What will it mean for the euro remains to be seen, but gold bullion stayed above the 7 month low hit last week.
- Gold & the Developed World in the Face of Massive Change in the Next Two Decades
February 25 2013 8:10 AM
In the last five years, we have seen the start of the decline of the developed world and the real impact of the economic rise of China on that world. What lies ahead? James Wolfensohn, the ex-president of the World Bank gave a short lecture in which he forecasts what the world’s cash flows would be like in 2030: - For the last century and far more, 80% of the cash flow of the world flowed to what we know as the developed world where 20% of the people lived. Twenty percent of the cash flow went to the underdeveloped world where 80% of the world’s population lived.
- GOLD should be completing a cyclical low in February
February 22 2013 3:16 PM
Over the past 5 calendar years we have seen GOLD either complete an intermediate cyclical top or bottom in each February. My forecast was for February of 2013 to be no different and for Gold and Silver to make trough lows this month. With that said, I did not expect the drop in GOLD to go much below $1,620 per ounce at worst, but in fact it has. Where does that leave us now on the technical patterns and crowd behavioral views?
- GoldCore Insight - Currency Wars: Bye Bye Petrodollar – Buy, Buy Gold
February 22 2013 10:01 AM
Gold recovered on Friday, adding to gains yesterday on news that the U.S. economy is still faltering and concerns that the U.S. Fed’s QE will continue despite assertions to the contrary.
- Spot Gold Forecast for 02/22 by Daytradeideas.com
February 22 2013 8:39 AM
Spot Gold did make low for the correction as hoped & bounced back to 1585 as predicted. This is proving a struggle to overcome as we had expected but a push higher should happen today to target 1604/05, possibly as far as 1611/12 but this should be the top at this stage. Any sell off is unlikely to see us fall as far as 1555 now. If we do test this level it should be a very good buying opportunity but we will need to keep stops tight below here as a break could see 1548/46. If this support breaks there really is very little to stop a move towards 1533 with 1531/27 the next area of support. This area is the low for 2012 and as such should be a welcome buying opportunity.
- The gold spirit
February 22 2013 8:05 AM
I have written about gold for 8 years. My predictions are some of the best. But let’s move to the topic – the gold spirit. First, I would like to comment on an email exchange I had with one of the significant gold market makers. So I told him, gold is a spiritual thing. I said it is somehow involved in the separation of man from body and his spiritual side. Now this guy is sweet. Kind etc. but he said I kinda sounded nutty. No I don’t. He is retarded (no offense dude I’m making a joke).