Silver and <b>Gold Prices</b> Find Themselves Fighting Over Familiar <b>...</b> |
- Silver and <b>Gold Prices</b> Find Themselves Fighting Over Familiar <b>...</b>
- JP Morgan turns ever so slightly bullish on 2014 <b>gold price</b> | MINING <b>...</b>
- Shorts could be behind <b>gold price</b> flash crash | MINING.com
| Silver and <b>Gold Prices</b> Find Themselves Fighting Over Familiar <b>...</b> Posted: 08 Jan 2014 04:26 PM PST Gold Price Close Today : 1225.30 Change : -4.10 or -0.33% Silver Price Close Today : 19.518 Gold Silver Ratio Today : 62.778 Silver Gold Ratio Today : 0.01593 Platinum Price Close Today : 1412.20 Palladium Price Close Today : 737.40 S&P 500 : 1,837.49 Dow In GOLD$ : $277.74 Dow in GOLD oz : 13.436 Dow in SILVER oz : 843.46 Dow Industrial : 16,462.74 US Dollar Index : 81.180 Silver and GOLD PRICES find themselves fighting over familiar ground. The gold price dropped $4.10 (0.3%) to $1,225.30 while silver lost 24.7 cents (0.13%) to 1951.8c. Today changes nothing and adds no new insight. The gold price remains above its 20 DMA and in the uptrend begun on 31 December. Gold has drawn a falling bullish wedge and broke out of that, and the breakout remains above the wedge's upper boundary line. Touched off it today. The SILVER PRICE shows a similar wedge, and a like performance. Not counting the 1872c thin market low on 31 December, silver is in an uptrend with a lower boundary rising through its December lows. However, it teeters on the edge. Really can't close below 1940c and gold must hold on above $1,220. It's all one big wheezy deal, and how it turns out is anybody's guess. Balance of proof they have bottomed remains on shoulders of silver and gold, and can only be borne by rising to higher prices. Extent of that power was seen today when the mighty stock market wilted at the hint in the Federal Open Market Committee's notes of its last meeting that it might, someday, somehow "taper." This taper handle turns out to be the best tool for manipulating public opinion since terrorism was invented. Clearly, by its money printing the Fed has placed a floor under stock prices. Everybody knows it, that's why they wilt at the magic word "taper." 'Twill be hard to resist the pull of this magic. Excepting the Nasdaq twins, stock indices fell across the board. Dow lurched down 68.2 (0.41%) to 16,462.74 while the S&P500 stumbled 0.39 (0.2%) to 1,837.49. Just the chart, ma'am, and a syllogism. Definition: a downtrend is a series of lower lows and lower highs. Since 31 December 2013 Dow and S&P500 have posted lower lows and lower highs. Ergo, the Dow and S&P500 are in a downtrend, transitory and migratory as it may be. Whether this downtrend will be of the evanescent or long-lasting variety time has not yet revealed to us. But stock's slide was not enough to lower the Dow in Gold and Dow in Silver, since metals dropped more than stocks. DiG ended at 13.44 oz, up a wee 0.07%. DiS jumped 1.25% to 843.81 oz. US dollar index pulled away from its congestion today, rising 17 basis points (0,21%) to 81.18. 'Tis now reaching for the 200 DMA at 81.65. Crossing that will add gas to its tank. Euro broke clean through the lower boundary of its rising bearish wedge and lost 0.30% to $1.3578. Needs one more lower close to cement the breakdown. Next support does not appear until $1.3295. Ow. Yen changed its mind again today and fell back 0.24% to 95.38 cents/Y100. Japanese Nice Government Men don't want it to climb above that 20 DMA. Ten year US Treasury Note yield ticked up today, 1.91% to 2.993%. Probably on "taper" news. Momentum remains upward, although at a glacial pace. Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger © 2013, 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.  |
| JP Morgan turns ever so slightly bullish on 2014 <b>gold price</b> | MINING <b>...</b> Posted: 06 Jan 2014 11:49 AM PST Predictions for the gold price in 2014 by investment and bullion banks don't vary much in that the majority predict a decline this year. There are bulls – none of them anywhere near raging – like Germany's Commerzbank and Scotia Mocatta which predict a return to $1,400 an ounce. Barclays is somewhere in the middle with a move to $1,350 in the first half but for gold to be back to around $1,270 by end-2014. Merrill Lynch sees the opposite price movement with $1,350 hit at the end of the year. Top bear, along with Goldman Sachs, which is due to bring out revised forecasts soon from its November prediction of a slide below $1,100, is Switzerland's UBS Wealth Management which sees the yellow metal weakening throughout 2014 to hit $1,150. FX Street reports at least one prominent US investment bank has turned more bullish on gold. JP Morgan now predicts an improvement from today's levels, albeit a still modest $40-plus rise: "We expect that the trade policy blocking Indian gold imports will weaken somewhat and we also anticipate that outflows from gold ETFs will stabilize in the coming year, and begin to rise in 2H2014." "A slower pace of gold mine growth in 2014 and 2015 is likely as lower prices feed into project delays and lower capex." "We also still believe that central banks will be net buyers of gold in 2014 and 2015. All this should see prices stabilize and move modestly higher to round $1285/oz by the end of the year." |
| Shorts could be behind <b>gold price</b> flash crash | MINING.com Posted: 06 Jan 2014 11:01 AM PST The gold price climbed back above the $1,240 an ounce level by lunchtime on Monday after a brief plunge of more than $30 an ounce in morning trade in New York dealings. Gold for delivery in February, the most active contract on the Comex division of the New York Mercantile Exchange, dropped from $1,245 to $1,215 within a minute after a massive trade of around 12,000 lots were executed. The order which represents 1.2 million ounces triggered a 10-second halt in trading. Initially it appeared to be a "fat finger" (pressing the wrong button) trade, but the CME Group which runs Comex said in an email to Reuters Hedgeworld "all trades stand and our technology performed as designed." Ross Norman, ex-trader for NM Rothschild and Credit Suisse and owner of bullion brokers Sharps Pixley, told MarketWatch the move "looks to be shorts defending their substantial positions." Short positions – bets that the price will go down – held by large investors or so-called managed money climbed to a record to 82,765 lots or 8,276,500 ounces in the week to December 24 according to the delayed Commodity Futures Trading Commission data released last week. So many big players short of gold could translate into further upside for the metal as commercial traders and hedge funds are forced to cover their positions should gold go higher from here. Norman made the case in April last year that the dramatic $200 an ounce drop in the gold price over two sessions that month was sparked by a short seller's 'shock & awe' 400 tonne trade.
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