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!

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.

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.

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?

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.

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.

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.

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.

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.