Gold price | <b>Gold Price</b> Reverses Course On Geopolitical Tensions | Gold Silver <b>...</b> |
- <b>Gold Price</b> Reverses Course On Geopolitical Tensions | Gold Silver <b>...</b>
- The <b>Gold Price</b> Lost $4.40 this Week Closing at $1304.50
- The <b>Gold Price</b> Climbed $1.10 to Close at $1313.90
- <b>Gold Price</b> Analysis- August 15, 2014 - DailyForex.com
| <b>Gold Price</b> Reverses Course On Geopolitical Tensions | Gold Silver <b>...</b> Posted: 16 Aug 2014 03:50 AM PDT This is an excerpt from the daily StockCharts.com newsletter to premium subscribers, which offers daily a detailed market analysis (recommended service). Gold opened weak as inflation expectations eased, but recovered on reports concerning Ukraine. The chart below shows the Gold SPDR (GLD) moving below 124.5 in the morning and then recovering with a move back to the 126 area. If we ignore the spike below 125, then nothing has really changed on this chart. GLD broke out of the big wedge in mid June and this breakout held with the bounce off 123 in early August. The ETF broke out of the little wedge and the breakout line turns first support. At this point, I think a close below 124 would negate the little wedge breakout and increase the odds of a bigger break down. The red line shows the Chandelier Exit, which acts a trailing stop-loss. Traders going long on the mid June breakout and using this indicator to set stops would have been stopped out in mid July. Traders going long on the early August breakout would still be in with a stop-loss just below 124.21, which is the Chandelier Exit value. You can read more about this indicator in our Stockchart's ChartSchool.
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| The <b>Gold Price</b> Lost $4.40 this Week Closing at $1304.50 Posted: 15 Aug 2014 04:12 PM PDT
Silver & GOLD PRICES behaved just about perfectly today. "WHAT! Moneychanger, have you lost your mind. They both dropped today! You've lost what precious little mind you ever had." Nope. Y'all think about it. Gold was driven down -- by a wave of selling, which wavers will remained unnamed -- down to $1,293. That started about 8:00 in New York (where they take no prisoners but many wallets), but look a-here: it traded sideways there about an hour, then shot straight up to close down only $9.40 at $1,304.50. "Goofy," y'all will no doubt rejoin, "gold closed down on the day." That's not the point. Rather, gold was driven down through two support levels and bounced right back, leaving behind a big V on the chart, a spike low AND it closed above its 20 & 50 DMAs. Wait, wait, I'm overlooking something, It also closed back above that downtrend line from October 2012. Friends, this action is strong as a garlic milkshake. Durn, I keep on forgetting stuff. On its drop today the gold price approached the unbroken uptrend line from the June low -- approached, then bounced off. A spike low like that is just what the doctor ordered to scare off those inclined to scorn and short gold. It's a show that confirms gold's tenacious strength here. Now to the "just about perfect" part: silver. The SILVER PRICE lost 38.1 cents to close Comex at 1949c. That close is a gnat's eyebrow above the downtrend line from the August 2013 downtrend line. This is either the very best place in the world to buy silver, or a bad one. Good, because this will be the low if silver catches here. Bad because if silver catcheth not there, it will drop down to 1860c. Because of gold's performance today, and because the gold price has lately been leading the metals, I'm guessing silver will turn up from here. I guessing that downtrend line from August 2013 will hold. So I may be crazy as a betsy bug, but I ain't moving a peg off that opinion -- until the market hits me over the head. Put everything I say about stocks against the backdrop of the Dow's weekly chart. That weekly chart shows that the week of 28 July the Dow broke down through an uptrend line stretching back to March 2009. It closed below the 20 week moving average, rallied a little last week and this, but couldn't quite close above the 20 DMA this week (now 16,670). The daily chart shows the Dow topped 17 July, then fell off steeply on 30 & 31 July, breaking through the Uptrend from March 2009. On 7 August it punched into the 200 DMA with a low at 16,333.70. The Dow then entered a rally correcting part of that fall, and today reached the 50% mark at 16,743, ran past it to 16,775, then collapsed to close down 50.67 (-0.3%) at 16,662.91. That may mark the correction's upward limit, preparing the way for another leg down next week. Note the word "may" carefully. In similar fashion the S&P500 was pushing toward its 61.8% correction level at 1,958, which it hit -- and promptly fainted. It did close above its 20 DMA (1,951.67) but ended the day 0.12 (0.01%) lower at 1,955.06. Currencies ended the week about where they were last week, only more so. US dollar index lost 18 basis points today, but that doesn't take it below the tight range it has been trading in. Euro closed $1.3397, up 0.22% and the yen up 0.13% at 97.73. Y'all enjoy your weekend! - Franklin Sanders, The Moneychanger © 2014, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold or 18 ounces of silver. or 18 ounces of silver. US $ and US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The <b>Gold Price</b> Climbed $1.10 to Close at $1313.90 Posted: 14 Aug 2014 04:23 PM PDT
At least, finally, silver and gold prices are talking the same direction. Here's how their disagreement shapes up: The GOLD PRICE has been in a rising trend for the last 8 days, and stands above its 200, 50, and 20 DMAs, in other words, perfect alignment for a rally. Gold's RSI stands above 50 and is rising, its MACD is rising, rate of change is positive and upward, and full stochastic is not yet overbought. I suppose gold might also have a check in its pocket signed by the US Treasurer for a million bucks, but that's about all it lacks. Whoops, I neglected to note that it has traded through and above the downtrend line from the October 2012 high. All that argues the next move is to the second floor, but not silver. In the last eight days the SILVER PRICE has made -- at the beginning and last two days -- a sort of tiny double bottom at 1970c. It languishes below its 200 DMA, and 50 DMA and 20 DMA, which has turned down. MACD is negative. Rate of change has turned up but is still negative. RSI crouches below 50 at 39.54. Silver has, it is true, been trading since June above the downtrend from the August 2013 high. To break this impasse downward, gold would have to close below $1,280 and silver below 1970c. To the upside, gold needs a close over $1,325 and silver over 2050c. Till that happens we are just marking time. I expect both will resolve upward, and ought to shortly. Dow gained 61.78 (0.37%) to 16,713.58, reaching toward the point of 50% correction of the plunge (16,743) and reaching toward its 20 day moving average (16,754). S&P500 rose 8.46 (0.43%) to 1,955.18. S&P500 already passed the 50% correction at 1,948. but hits the 61.8% correction at 1,958.32. Tomorrow will speak loudly. Dow in silver jigged down today, 0.11%. Dow in gold jigged up 0.22%. Still waiting on a message from Dow in silver that it's turning down. Dow in Gold remains below 200 day moving average, and in full skydiving mode. Currencies jiggled, but did nothing. US dollar index lost 4 basis points to close at 81.64. Euro rose 0.01% (get out your electron microscope) to $1.3366 and the yen fell 0.03% to 97.61. I searched the news today for something silly or stupid to lampood but it was all nasty, brutal, or just plain stupid. I'll pass. - Franklin Sanders, The Moneychanger © 2014, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold or 18 ounces of silver. or 18 ounces of silver. US $ and US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| <b>Gold Price</b> Analysis- August 15, 2014 - DailyForex.com Posted: 15 Aug 2014 03:37 AM PDT
By: DailyForex.com The XAU/USD pair closed slightly higher than opening on Thursday after the weaker-than-anticipated economic data released from the Unite States raised doubt over how quickly the Fed is going to start to raise rates to normalize policy. Gold prices traded as low as $1319.20 an ounce before retreating back to the $1312 level. Lately, fears of an escalation of tensions between Ukraine and Russia have created a floor under the market but weighing on the yellow metal is the dominant up-trend in equities and lack of physical demand. It seems that gold prices will keep oscillating around the 1312 level while the 1318/24 and 1303 levels contain the market. The bulls don't want to give up and work hard to hold prices above the 1303 support level but the sellers come in and step up the pressure every time the market tries to rally.
The pattern on the charts suggests we are going to be range bound in the near term while the market simply has no real catalyst to push prices in either direction. Only a daily close above the 1318 level would lure some investors back to the market and increase the possibility of a bullish attempt to test the 1324.50 resistance level. Beyond that level, 1331.50 will be the key level for the bulls to pass in order to challenge the bears on the 1340 battle field. If the bears increase the downward pressure and capture the 1303 support level, the XAU/USD pair will probably test 1297. Breaching this support would indicate that the next stop will be the 1292 level.
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