The <b>Gold Price</b> Validated it's $1250 Support Closing Up at $1262.20 |
- The <b>Gold Price</b> Validated it's $1250 Support Closing Up at $1262.20
- The <b>Gold Price</b> Closed Down 1.64 Percent at $1242.20
- Silver and <b>Gold Prices</b>: The <b>Gold Price</b> Closed Down $12.60 at <b>...</b>
- <b>Gold Price</b> BOOM! :: The Market Oracle :: Financial Markets Analysis <b>...</b>
- <b>Gold Price</b> Exploding In Emerging Markets | Gold Silver Worlds
- <b>Gold price</b> gains halted as ETF investors sell into rallies | MINING.com
| The <b>Gold Price</b> Validated it's $1250 Support Closing Up at $1262.20 Posted: 29 Jan 2014 04:25 PM PST Gold Price Close Today : 1262.20 Change : 11.40 or 0.91% Silver Price Close Today : 19.535 Gold Silver Ratio Today : 64.612 Silver Gold Ratio Today : 0.01548 Platinum Price Close Today : 1406.40 Palladium Price Close Today : 710.25 S&P 500 : 1,774.20 Dow In GOLD$ : $257.76 Dow in GOLD oz : 12.469 Dow in SILVER oz : 805.67 Dow Industrial : 15,738.79 US Dollar Index : 80.660 The GOLD PRICE was pushed up today. Comex closed up $11.40 (0.9%) at $1,262.20. Silver lagged badly, rising only 5 cents to 1953.3c. Yesterday the gold price fell back to support at $1,250.80, and today rebounded like a trampoline champ. That validated $1,250 support. In the aftermarket gold has pushed through the $1,267.50 December high, but not enough to call it a breakout. The GOLD PRICE is pounding at the door of that downtrend line from April, but pounding isn't breaking down. Strength shown so far whispers it will break through tomorrow, but if not, it can fall back as far as $1,210 without changing the outlook. All indicators I watch are pointing up, and I expect to see higher gold soon. The SILVER PRICE since early December has formed a rising flat topped triangle with the base or top at about 2050c, and a slowly rising hypotenuse beginning at 1889c through 1910c through 1931c and now today at a 1945c low. This line was broken only once, by the plunge on 31 December 20 1872, but that was an intraday low and silver never closed below that hypotenuse. Silver stands below its 20 and 50 DMAs (1984 and 1992). It has dithered two months trading sideways. Two days ago the MACD flashed a Sell. This picture must clear, or threaten gold's performance. Related markets can disagree for a day or two, but past three it begins to look like a family argument where somebody's fixin' to take out a knife and go to cuttin'. To confirm a rally, the gold price must close above $1,267.50 and silver must hop aboard and climb over 2050c. It's very rare that gold will stage a rally all on its own. Possible, but infrequent. One thing about us nacheral born fools from Tennessee, I ain't crafty enough to lie when I'm caught out wrong and make out like I was saying the other thing all along. I'll just out and admit it, I was wrong. The scummy criminals at the Fed did taper after all. In the FOMC's statement today -- Bernanke's swan song -- the Fed said it would reduce its securities purchase by $10 bn total, knocking $5 bn of its present $40 bn monthly US Treasury bond buying and $5 bn from its $35 bn Mortgage Backed Securities purchases. But the Fed also promised it would hold interest rates near zero until unemployment dipped below 6.5%, or 'till hell freezes over with Gatorade, whichever comes first (I snuck in that last part on my own. They didn't really say that). Here are the really gut-bustin' hilarious gems from the FOMC statement: ** the economy is improving. ** "The committee recognizes that inflation persistently below its 2% objective could pose risks to economic performance." (This is loony from the standpoint of protecting the dollar's purchasing power, which is why y'all don't understand it, because the Fed doesn't give 2 hoots and a holler about the dollar's purchasing power. That ain't their job. Their job is to keep all y'all BELIEVING they aim to protect the dollar. And it's genrlly working.) ** "The Committee today reaffirmed its view that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the asset purchase program ends and the economic recovery strengthens." Translation: we are going to continue to create new money at the same rate as far as we can see into the future. And how did the stock market take the news that the Fed is jerking the punch bowl? Not calmly. Dow plunged another 189.77 points (1.19%) to 15,738.79. Scorecard: Dow has lost 676.53 (4.1%) in the last seven trading days. S&P500 today peeled off 18.3 (1.02%) to perch on 1,774.20. Clearly the Fed is playing "chicken" with the stock market. Where doth that leave us? The Dow has crashed back below the upper channel line that it threw over (rose above) in November, and reached its last low (15,703.79 in December) matched with a September peak at $1,5709.58. If the Dow punctures this support, next obvious stopping point is the 200 DMA now at 15,454.71. No indicator gives a sign of an upturn yet. S&P500 looks no better. Meanwhile the Dow in Gold is cascading over the rocks. Closed today down 2.5% at 12.42 oz (G$256.74 gold dollars). All moving averages are in downward alignment, and the next to be struck is the 200 at 11.76 (G$243.10). Thanks to silver's recent lethargy, the Dow in Silver has not dropped as dramatically. Today it lost 2.18% to end at 798.92 oz, and stands below its 20 and 50 DMA (814.41 oz), and it's outside its upward trading channel. Gravity is calling. Since the Fed pulled the plug on its stock support today, I reckon investor's appetite for risk has been trimmed. That showed up in rising bond prices/falling ten year T-note yield. It dropped 2.59% to 2.675%. Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - 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> Closed Down 1.64 Percent at $1242.20 Posted: 30 Jan 2014 07:27 PM PST Gold Price Close Today : 1,242.20 Change : -20.00 or -1.64% Silver Price Close Today : 19.11 Gold Silver Ratio Today : 64.999 Silver Gold Ratio Today : 0.0154 Platinum Price Close Today : 1,380.70 Palladium Price Close Today : 706.65 S&P 500 : 1,794.19 Dow In GOLD$ : $263.74 Dow in GOLD oz : 12.76 Dow in SILVER oz : 829.29 Dow Industrial : 15,848.61 US Dollar Index : 80.66 Alas, today was not the day the GOLD PRICE burst the bonds of surly earth. Instead, it hit that downtrend line from the April 2013 high at $1,267.70 & fell back as low as $1,237.50. The GOLD PRICE shuttered the Comex $20 (1.64%) lighter at $1,242.20. Silver shucked 42.5 cents (2.18%) to 1911.1c. Today witnessed an 1897c low. Gold's low took it to but not through its 50 DMA, and closed slightly below the uptrend line. This itself is not fatal, but the 12 day rate of changed went negative today, & the MACD might be rolling over downward. No way to predict what will happen here. Gold has been very strong, so the 50 DMA which in past months has acted as a barrier to stopping it might now support it. Or we might see lower prices still. I am watching the $1,210 line as the shoulder line of what might be a upside-down head & shoulders. As long as that $1,210 line at the top of the shoulders remains intact, the pattern remains valid & presages an upside breakout. The SILVER PRICE low at 1897c today shattered the little uptrend it had going, but stopped about where declines stopped through December at 1889c & 1910c. Remember the December intraday low came at 1872c, so that's silver's drop-dead line. MACD & RoC & RSI all point downward, I am sad to report. Not sure why, but I really don't expect another waterfall out of silver & gold from here. Might be too big a natural born fool from Tennessee to see it coming. Well, I reckon the question we all ought to ask ourselves is, How big a sucker are you? In a world where most everything is staged for propaganda purposes, financial & political & cultural, we also have to ask, Is it real, or Memorex? Before I launch my boat upon the stormy sea of doped-up markets, I realized something spooky this morning as I was waking. On 22 & 23 January several stock market indices were making new all time highs. That was the day the Dow reiterated its non-confirmation by falling the second day in a row. On the 23rd its Niagara began. Why is that spooky? Because the Dow topped at 11,722 on 22 January 2000, before the rest of the indices topped in March. And because there was a stock market high in 2000, again in 2007, and now, seven years later, in 2014, exactly two times seven years from the 2000 top. Here's another, smaller spook. Silver & gold bottomed on 28 June 2013, then again on 31 December 2013, right nearly six months to the day or halfway around the year from each other. But today the sun shone bright in Stockland again. Dow jumped up 109.82 (0.7%) to 15,848.61 & the S&P500, like a giant running its course, leapt 19.99 (1.13%) to 1,794.19. The raw numbers sound good until you look at the charts, Dow managed to climb back to support it had broken through, but no more. S&P500 remains way below its 1,812.60 50 DMA, ready to drop through a long term uptrend line. Sure, both indices might catch here, but they need to rise above their 50 DMAs to do that (1,812.60 & 16,153.57). Gold's tumble today floated the Dow in Gold up a little, 2.76% to 12.76 oz (G$263.77 gold dollars). As yet that amounts to nothing but a tiny countertrend move in a very long downtrend. Dow in silver rose 3.72% to 828.64 oz, above its 20 and 50 DMAs (817.42 & 815.61). This is an iffier proposition, but needs to close above the 853.15 oz high on 31 December to disprove the downtrend. US Dollar index, hideous spawn of central banking, rose today 53 basis points (0.66%) to 81.19. This takes it out of immediate danger of visiting the earth's magma core, but not much more. It is trying to turn up again to validate its sluggish uptrend. Did close above the 20 & 50 day moving averages, which at least turns momentum up. Euro, hideous spawn of central banking & eurocratic bureaucratic tyranny, gapped down below all its moving averages, proving its downtrend once again. Plunged 0.79% to $1.3556. Hope the euro has packed its parachute. Yen, hideous spawn of central banking & corporatism, fell back 0.49% to 97.21, but remains above its 20 & 50 DMAs & in an uptrend. Why, I can't imagine, since the Japanese Nice Government Men stand ready to stab anybody in the back who trusts a rising yen. Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - 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. |
| Silver and <b>Gold Prices</b>: The <b>Gold Price</b> Closed Down $12.60 at <b>...</b> Posted: 28 Jan 2014 01:55 PM PST Gold Price Close Today : 1250.80 Change : -12.60 or -1.00% Silver Price Close Today : 19.483 Gold Silver Ratio Today : 64.200 Silver Gold Ratio Today : 0.01558 Platinum Price Close Today : 1407.70 Palladium Price Close Today : 715.60 S&P 500 : 1,792.50 Dow In GOLD$ : $263.25 Dow in GOLD oz : 12.735 Dow in SILVER oz : 817.56 Dow Industrial : 15,928.56 US Dollar Index : 80.582 Yesterday the GOLD PRICE closed Comex only 90 cents lower but in the aftermarket lost another $10. That showed up today at the Comex close, lower by $12.60 to $1,250.80, about 1% lower than yesterday. Yet as I said, most of that loss had already showed yesterday. Unlike recent months, gold did not follow through yesterday's weakness. The GOLD PRICE hesitation here is easily explained: it is bumping against the downtrend line from April 2013. Thus Friday it couldn't get through the $1,267.50 December high, though it came so close. Nothing is out of order here, but the gold price might drop back to its 50 DMA at $1,238.04. Further drop would call its intentions into question. However, the Fed's mumblings tomorrow might derail gold for a while. Just no telling how the market will take their words. The SILVER PRICE casts the only gloom over this brightening precious metals picture. It lost 28.8 cents (1.5%) today to end at 1948.3c. Remember that on Friday silver's weakness gainsaid gold's strength. Worse, platinum and palladium are falling, too. Copper has fallen back to its 200 DMA. So the situation is unclear, and will remain so until the FOMC shoots tomorrow. My gut and the trends in place say, regardless what the Fed intones, stocks will continue lower and gold will keep climbing, even pulling silver up. Dow would have to beat 1,500 to change that outlook, and the gold price would have to drop below $1,210 Now if I wanted to put millions of people back to work in America, the very first thing I would do is-- raise wages 39%! Yes, socialist moronism now reigns supreme in Washington, where His Federal Highness, Bernard O'Bama, is decreeing today that all those federal government contractors now paying their minimum wage folks $7.25/hr must raise them to $10.10. This will prompt those employers to look at their payrolls, scratch their heads, and fire the lot of them, as they cannot afford to raise them 39%. Thus Bernard, our first communist president, will manage to throw countless thousands out of work. Between him and the Fed, it's a job to figure out who is stupidest. Speaking of the Fed, its long, twisted shadow hangs over markets this week because the FOMC has another meeting tomorrow. Chances are Yellow Janet will be terrified by the stock market waterfall cascading over the headlines and put The Mythical Taper in the dame class with the Easter Bunny, Sasquatch, and Santa Claus, announcing that money creation (and its floor under Wall Street) will continue on, world without end. I have to leave early today, and am writing this just before the stock market closes, but I'll include closing prices below. Stocks are in big trouble, although it's not clear yet whether this is merely a correction, or we have seen the ultimate top. For now, I'll opt for a severe correction into February, with the ultimate top later this year, subject to changing my mind at the drop of an index. Stocks have been flashing all sorts of portents through January, mostly with the Dow refusing to join the party. Right now the Dow stands up 94.44 at 15,932.32, up 0.6% on the day, but in truth doing no more than a dead cat does when thrown from a three story building. The bounce signifyeth not life. S&P has managed to climb 10.93 (0.61%) to 1,792.49, but other indices are down slightly. Stocks are in such trouble that it's a fair bet that whatever comes out of the FOMC meeting tomorrow, it will contain fat meat for stocks. Ergo, no taper. Dow in Gold has fallen clean out of the trading channel and made half the journey from the 50 DMA (13.06 oz) to the 200 DMA (11.74 oz). DiG stands now at 12.73 oz (G$263.08 gold dollars). Dow in Silver hasn't been so rambunctious but at 817.75 oz has quite broken below its 50 DMA (812.76 oz). US Dollar index has gone flat last two days, and is unlikely to move today, waiting for the Fed's Delphic Oracle to predict the future. Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - 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> BOOM! :: The Market Oracle :: Financial Markets Analysis <b>...</b> Posted: 28 Jan 2014 09:00 AM PST By: John_Mauldin
|
| <b>Gold Price</b> Exploding In Emerging Markets | Gold Silver Worlds Posted: 27 Jan 2014 02:44 PM PST Mainstream economists and mainstream media remain convinced that the economy and markets are in full recovery mode. Along the same lines, gold is unanimously expected to decline in the year(s) head. One of the most recent appearances of that kind was the 2014 outlook of IMF economic counselor, Olivier Blanchard, who explained last week that global growth would average 3.7% in 2014. Ironically, the recovery story, based on the central bank premise that they can create wealth by simply exploding their balance sheets, seems as solid as a "house of cards." Past week Thursday and Friday, several emerging markets suffered from an economic earthquake, especially in their currency markets, which resulted in losses in most developed world markets not seen since 6 months. The Yen and the Swiss Franc were considered a safe haven, just like gold and US Treasury bonds. Bloomberg says this is the worst selloff in emerging-market currencies in five years, revealing the impact from the Federal Reserve's tapering of monetary stimulus. "Investors are losing confidence in some of the biggest developing nations, extending the currency-market rout triggered last year when the Fed first signaled it would scale back stimulus. While Brazil, Russia, India, China and South Africa were the engines of global growth following the financial crisis in 2008, emerging markets now pose a threat to world financial stability." Argentina, Venezuela and Turkey have been hit hard. Argentine's Peso and Turkish Lira lost significant value against other major currencies in the past week. They recovered slightly today. In Argentina, the central bank pared dollar sales aimed at propping up the peso to preserve international reserves that have fallen to a seven-year low. "The central bank said it would lift two-year-old currency controls and allow the purchase of dollars for savings starting next week. […] The government told today it isn't intervening in the peso's decline, allowing the market, which is mostly closed to buyers of dollars, to adjust prices. It wasn't a devaluation induced by the state. For the lovers of free markets, supply and demand was expressed in the capital markets yesterday." The Turkish central bank tried an unscheduled intervention in the market to stop the lira from falling to record lows, something they haven't done since two years. "Investors are speculating the central bank's efforts to prop up the lira by burning through foreign-exchange reserves will prove futile without raising interest rates." The loss in purchasing power for people holding Argentine's Peso is astonishing:
The loss in value of the Turkish Lira is not as dramatic as the Peso, but it is still very bad:
The interesting part for us, gold enthusiasts, is the price of gold in the slaughtered currencies (prices on the close of January 24th):
This chart shows the price of gold in USD (yellow line) and in Peso (blue line). The black line is the currency exchange rate Peso against the USD. Chart courtesy: Sharelynx. Interestingly, the explosion of the gold price in Peso and Lira has pushed the gold price higher in the Western currencies. That is an important evolution, as it indicates what gold really stands for: a monetary asset. One should note that gold has gone higher even without inflation fears. This could be one of those catalysts that could break the downtrend in gold in major currencies. The underlying reason for the emerging market turmoil is said to be attributed to capital flight out of those markets. Directly linked to that is the tapering fear from the US Federal Reserve. What is the importance of this for Western investors? There could be a counter intuitive answer to that question. Basically, up until today, there was a narrative surrounding the Federal Reserve who got credit for the positive economic results after having stopped the implosion of the financial system in 2009. However, there is still no empirical evidence that the plan has worked, because the world is still on the monetary infusion. We should note that the present type of situation, characterized by tapering in a global fiat based monetary system with huge amounts of debt, is unique in human history. As John Mauldin pointed out this week, if the narrative about central planning changes, indicating that the present monetary experiment was the wrong answer to the problem, there could be very nasty effects, especially out of the emerging markets. This is why (courtesy of Ben Hunt):
Nodoby knows how exactly a change in the narrative will play out, but given this week's evolution, it seems likely that a flight out of risk assets into gold as a safe haven is very likely. Once the narrative changes, the product of the most powerful central bank, i.e. the US dollar, could be hit by a serious trust crisis. That is the point where the Western world could rediscover the monetary value of gold. That is the point where the correlation between the commodity index and precious metals prices (as evidenced since 2011) will break. Gold is more than a commodity. It is the ultimate protection against the central banking illusion. There really is a reason why we advocate holding physical gold outside the banking system. |
| <b>Gold price</b> gains halted as ETF investors sell into rallies | MINING.com Posted: 27 Jan 2014 03:56 PM PST The recent rally in the price of gold came to a halt Monday ahead of a two-day US Federal Reserve meeting starting on Tuesday and amid continued outflows from gold-backed ETFs. In late trade on the Comex market in New York, February gold futures changed hands at $1,255.20 down $8.30 or 0.7% from Friday's close after earlier in the day climbing to a fresh two-month high above $1,270. The sell off on financial markets on Friday which continued into Monday saw gold gaining for five straight weeks and trade 5% higher year to date. Gold's 28% price drop in 2013 were marked by a rotation out of gold-backed ETFs into riskier assets like equities and despite gold's strong performance in 2014, investors continued to pull their money out of ETFs. Over the past four weeks, holdings dropped by 28.1 tonnes to 1,739 tonnes across the more than 100 gold-backed ETFs listed around the globe. Holdings peaked in December 2012 at more than 2,600 tonnes. Holdings of the world's largest gold ETF – SPDR Gold Shares (NYSEARCA:GLD) – dropped 6.6 tonnes last week – as the price of gold was rallying. At 790.4 tonnes GLD holdings are at the lowest level since January 2009 after a whopping 552 tonnes left the fund last year. The Federal Open Market Committee meeting which wraps up on Wednesday is widely expected to deliver another $10 billion reduction to the $75 billion a month purchases under its quantitative easing program that has pumped $4 trillion of easy money into the US economy. Monetary expansion in the US and around the globe, particularly since the financial crisis, has been a massive boon for the gold price. Gold was trading around $830 an ounce before Chairman Ben Bernanke announced Q1 in November 2008. Should the Fed announce that it is throttling the program back at an increased rate which would boost the dollar, it could spell trouble for the price of gold. Charles Plosser, president of the Philadelphia Federal Reserve, recently said asset purchases should be wound down sooner than the end of the year, while Dallas President Richard Fisher said he wanted the taper to be double the size it was, that is $20 billion. |
Source: Bloomberg
| You are subscribed to email updates from gold price - Google Blog Search To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
0 Comment for "The Gold Price Validated it's $1250 Support Closing Up at $1262.20"