- 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).
- Peter Schiff - Special Video: Gold Pullback Explained
February 21 2013 12:15 PM
In a new, exclusive video on the gold market, Peter Schiff responds to skeptics who claim gold’s bull run is over. Many believe the economy is improving and therefore that gold’s rise has ended. However, Peter explains why the longterm fundamentals for gold have never been better, and how investors still have time to take advantage of gold’s temporary decline.
- Fear In Gold Market As Hedge Funds And Retail Sell – HNW And Smart Money Accumulate Again
February 21 2013 11:58 AM
More speculative gold buyers appear to have been spooked by the FOMC minutes from the Fed’s January 30th meeting which “said the central bank should be ready to vary the pace of their $85 billion in monthly bond purchases amid a debate over the risks and benefits of further quantitative easing.”
- Cross of Death now unavoidable for Gold
February 21 2013 9:04 AM
The Cross of Death is now unavoidable for gold prices as the 50dma is set to cross over the 200dma in a downward swing. The chart below shows that there was considerable damage done to gold following the last cross of death with gold prices dipping to the $1550/oz level. However this was short lived as gold recovered and managed to form a golden cross as the 50dma crossed over the 200dma in an upward swing. So it’s a crisscross situation that we find ourselves in as nervous investors, swing traders, speculators and fund managers go with the trend of day and trade accordingly.
- Gold's Death Cross Hastens Mining ETFs Death Spirals
February 20 2013 4:25 PM
The big news out of the gold pits Wednesday is that futures violated the psychologically important $1,600 an ounce level. At this writing, Comex-traded gold is trading just under $1,568 per ounce. Arguably, the bigger news is the technical condition gold's slide has caused. That being the ominous death cross, the technical scenario under which a security's 50-day moving average falls below its 200-day line. It happened with gold futures and it would appear that it is just a matter of time before the same fate befalls the SPDR Gold Shares (NYSE: GLD [FREE Stock Trend Analysis]) and the iShares Gold Trust (NYSE: IAU).
- Lear Capital: Gold Price at Tipping Point
February 20 2013 9:53 AM
It’s no secret, central banks are buying more gold than ever. Early 2012 estimates were blown away as central bank gold buying, for the year, reached 534.6 tonnes. While those numbers should have everyone clamoring for their own share of the world’s gold supply, the average investor is still the weak hand when it comes to owning gold.
- Gold Bull Market `Still Intact' Says HSBC's Respected Steel
February 20 2013 9:44 AM
Gold fell to $1,591/oz today, as market digests data about a possible global recovery occurring which is sending investors to riskier assets. German business sentiment hit its greatest level in 3 years adding to the optimism.
- Spot Gold Forecast for 02/20 by Daytradeideas.com
February 20 2013 8:17 AM
Spot Gold failed to test 1619/21 as we consolidate recent losses above last week’s low at 1598. A break lower today sees 1595 & then 1590 below but there is scope for a test of 1585 this week in this 4 month down trend. This is where it should be worth buying in to longs. Resistance at 1611 but above here we could stretch to 1615, possibly 1619/1621. This should be tough to beat so a top for the day is likely but a push higher targets 1626 with any further strength then likely to target 1633/35 for a selling opportunity this week.
- When It Comes to Gold, Stick to the Facts
February 19 2013 4:30 PM
Gold dipped below $1,600 last week, falling to a six-month low, much to the chagrin of gold investors. I find the timing of the correction peculiar, given the G20 Finance Ministers Meeting taking place over the weekend. There’s been a growing debate over Japan’s move to devalue its currency to stimulate growth, with reaction from the G-7 leaders stating that “domestic economic policies must not be used to target currencies,” reports Reuters.