- Precious Metals and Stocks poised to ramp higher in 2013
January 22 2013 2:44 PM
It’s been a long drawn out corrective affair with the precious metals since the August-September 2011 top that seems so long ago right now. During that last spike period where Gold rallied to just over $1900 per ounce, we had mentioned many times in articles and to our subscribers that GOLD was likely peaking in a wave 3 of excitement and high powered bullish sentiment. The “tells” were the articles, the CNBC mentions, the daily “CNBC GOLD” ticker at the top of their screen, and the cover of a major magazine.
- President Obama Inaugurated – Precious Metals To See Similar Returns As First Year Of Presidency?
January 22 2013 9:20 AM
Gold edged up and Tokyo gold hit a record multiyear high after the Bank of Japan announced a bold, some would say reckless, $117 billion ‘stimulus’ program as expected. The BOJ’ package included doubling its inflation target to 2% and making an open-ended commitment to asset purchases from next year.
- These Two Financial Giants Differ on Gold
January 21 2013 2:14 PM
On Monday, gold and silver futures remained mostly flat, as the New York Stock Exchange was closed for the Martin Luther King Jr. holiday. However, some major firms on Wall Street created minor buzz over the precious metals.
- Germany's Gold Repatriation Unlikely To Assuage Public Concerns
January 17 2013 9:09 AM
Gold inched up $1.00 or 0.06% in New York yesterday and closed at $1,679.90/oz. Silver rose to $31.46 in Asia before it dropped off to $31.07 in London, but it then climbed to as high as $31.551 in New York and finished with a gain of 0.25%.
- Bundesbank Repatriates Gold - Shows Importance Of Possession And Allocated Storage
January 16 2013 9:42 AM
Gold climbed $10.50 or 0.63% in New York yesterday and closed at $1,678.90/oz. Silver surged to a high of $31.382 in Asia before it fell back to $31.02 in London, but it then rose to as high as $31.503 in New York and finished ended with a gain of 1.06%. Gold was flat and close to a 2 week high it hit in the prior session, while platinum reversed early losses but was also trading sideways. Yesterday, in a speech that showed him as perhaps the most dovish of the central bank's 19 policymakers, Minneapolis Federal Reserve President Narayana Kocherlakota said the Fed "should provide more monetary accommodation" by targeting a 5.5% unemployment level.
- Platinum Surges on Production Cut Worries
January 15 2013 10:24 AM
Precious metal soared as led by platinum on concerns over production cuts in South African mines. Moreover, gold price gained amid speculations that the Fed would continue its accommodative policies as Fed Chairman Ben Bernanke cautioned that the US economy is not out of woods, signaling the Fed would maintain its accommodative stance, while Japan’s Prime Minster Abe pushed for "bold monetary policy" by the BOJ. The benchmark contract for gold rose to 8-day high of 1683.8. PGMs jumped with platinum gaining as much as +2.93% and palladium rising to an 11-month high of 725.0. Anglo American Platinum announced it will suspend 4 shafts in South Africa, leading to reduction of production by 400K oz per year. The closure would lower production of the company by -19%. Supply of platinum is vulnerable to output loss as the metal output has been affected by power outage and labor strike in mines in the country.
- Gold and Silver Rise as Debt Ceiling Rhetoric Heats Up
January 14 2013 7:39 PM
On Monday, gold (NYSEARCA:GLD) futures for February delivery, the most active contract, increased $8.80 to settle at $1,669.40 per ounce, while silver (NYSEARCA:SLV) futures for March jumped 70 cents to close at $31.11.
- Trillion Dollar Platinum Coin Is "Not The Solution" - PIMCO's Gross
January 11 2013 8:56 AM
Gold climbed $15.50 or 0.94% in New York yesterday and closed at $1,672.90/oz. Silver surged to a high of $30.926 and finished with a gain of 1.45%. The yellow metal was on track for a 1% weekly rise, after falling for five of the past six weeks. Gold edged off in euros on Friday, following the European Central Bank’s decision to keep its rates unchanged. Japan's gold market (TOCOM ) made news as benchmark Tokyo gold futures hit a record high of 4,820 yen a gram ($1,699.62 an ounce) after the yen dropped to a 2-1/2-year low vs. the dollar on expectations of more QE by the BoJ.
- 2013 Gold & Silver Outlook
January 11 2013 5:53 AM
This analysis is excerpted from part of yesterday’s subscriber update in which we presented our outlook for Gold, Silver and GDX/HUI. When making forecasts and writing outlooks, analysts must look at a multitude of things. We usually begin by examining the macro landscape via intermarket analysis. How are the various markets trending? Which are lagging? Where are the divergences? As we begin 2013, there has been an important shift in regards to precious metals that few analysts have picked up on. The rest of our analysis filters down from this discovery.
- Precious Metals Surge, “The Financial System is Drowning in Debt”
January 10 2013 7:44 PM
Precious metals maintained the large majority of their gains in afternoon trading on Thursday, fueled by bargain-hunting in the sector and considerable weakness in the U.S. dollar. COMEX gold futures climbed $22.50, or 1.4%, to settled at $1,678.00 per ounce. The advance marked the yellow metal’s best day since November 23rd.
- Gold and Silver Stuck in Consolidation Mode
January 09 2013 7:33 PM
On Wednesday, gold (NYSEARCA:GLD) futures for February delivery, the most active contract, decreased $6.70 to settle at $1,655.50 per ounce, while silver (NYSEARCA:SLV) futures for March edged 22 cents lower to close at $30.25.
- Precious Metals Hold Gains, XAU Pares Losses
January 08 2013 7:59 PM
Gold futures snapped their three-session losing streak on Tuesday amid strong gains in several precious metals. COMEX gold for February delivery settled higher by $15.90, or 1.0%, at $1,662.20 per ounce, just a fraction below its intra-day high. Silver futures for March delivery at the COMEX ended up by $0.38, or 1.3%, at $30.47 per ounce.
- Gold and Silver Climb Higher on More Central Bank Intervention Plans
January 08 2013 3:30 PM
On Tuesday, gold (NYSEARCA:GLD) futures for February delivery, the most active contract, increased $15.90 to settle at $1,662.20 per ounce, while silver (NYSEARCA:SLV) futures for March gained 38 cents to close at $30.47.
- Silver Industrial Demand To Hit Record High In 2014
January 04 2013 4:53 PM
Most of the demand for silver fabrication next year will come from industrial customers.
- Metals Retreat, Gold Endures Worst Stretch Since 2004
January 04 2013 3:48 PM
Precious metals remained in negative territory on Friday afternoon, but well above the intra-day lows reached prior to the latest U.S. employment report. COMEX gold futures – per the February contract – finished down by $25.70, or 1.5%, at $1,648.90 per ounce after earlier dropping to $1,626.00.
- Gold and Silver Stumble After FOMC Minutes
January 03 2013 8:09 PM
On Thursday, gold (NYSEARCA:GLD) futures for February delivery, the most active contract, fell $14.20 to settle at $1,674.60 per ounce, while silver (NYSEARCA:SLV) futures for March dropped 29 cents higher to close at $30.72.
- Precious Metals Tumble, Fed Minutes Mull QE4 Longevity
January 03 2013 7:48 PM
Gold and silver futures remained firmly in negative territory Thursday after the latest Federal Reserve minutes revealed that several of its members would like the central bank to halt its fourth round of quantitative easing (QE4) sometime in the next year.
- Dow Gold and Gold Silver Ratio Charts Remain Bullish
January 03 2013 10:10 AM
Gold edged up today and hit its highest range in two weeks in the prior trading session on the heels of the deal forged that avoided the U.S. fiscal cliff disaster. The far more substantial risk from the pending budget negotiations remains as does the appalling US national debt and unfunded liability situation – both of which offer long term support to gold and silver.
- Gold, Silver Shares Rise, Wall St. Tumbles
December 27 2012 2:41 PM
Shares of most gold and silver mining companies turned sharply higher on Thursday despite a broad-based sell-off on Wall Street. The Philadelphia Gold & Silver Index (XAU) jumped by as much as 1.4% to 163.61 this morning, buoyed in part by modest gains in precious metals. COMEX gold and silver futures rose by 0.2% to $1,663.30 and 1.1% to $30.35 per ounce, respectively.
- Silver Holding Above Key $30 Level
December 26 2012 5:30 PM
A December sell-off in silver has left the precious metal at a key technical crossroads as the new year approaches. Prices are hovering just over $30.00 and this could be a great buying opportunity, but silver has traded through this level a number of times in the past couple of years, so there remains considerable uncertainty in the commodity.