The <b>Gold Price</b> Lost $17.60 by Comex Close at $1341.40 |
- The <b>Gold Price</b> Lost $17.60 by Comex Close at $1341.40
- <b>Gold Price</b> Analysis- March 19, 2014 - DailyForex.com
- <b>Gold Price</b> Moves Into Important Fibonacci Zone - The Market Oracle
- <b>Gold Price</b> Analysis- March 18, 2014 - DailyForex.com
| The <b>Gold Price</b> Lost $17.60 by Comex Close at $1341.40 Posted: 19 Mar 2014 04:49 PM PDT Gold Price Close Today : 1641.40 Change : -17.60 or -1.06% Silver Price Close Today : 20.800 Gold Silver Ratio Today : 78.913 Silver Gold Ratio Today : 0.01267 Platinum Price Close Today : 1451.20 Palladium Price Close Today : 768.65 S&P 500 : 1,860.77 Dow In GOLD$ : $204.30 Dow in GOLD oz : 9.883 Dow in SILVER oz : 779.91 Dow Industrial : 16,222.17 US Dollar Index : 80.150 The GOLD PRICE lost $17.60 (1.3%) by Comex close at $1,341.40, then lost another $10 in the aftermarket after the FOMC's eructations. Silver gainsaid the gold price by dropping only 3.6 (0.2%) to 2080, then dropped another 17 cents in the aftermarket to 2063c. I read several analysts, and had to laugh today that one of them was ruminating a BIG drop in gold and the other was chirping about what a bullish set-up had unfolded in gold and silver. Here's what the charts show: The GOLD PRICE has traded in the selfsame upward trading channel since its December low. Today's fall was the last of three days that have brought gold to touch the channel's bottom boundary. It also closed below its 20 DMA ($1,345). From here gold might (1) bounce off the lower channel boundary and resume its uptrend, or trade down to its 50 DMA ($1,295). The gold price is walking in some heavy boots here, my way of saying a lot of indicators point down. However, silver is gainsaying that weakness, and had a strong day, and that IS bullish. Lo, is the man batty? Nope, he ain't. The SILVER PRICE yesterday traded down to about 2065c, broke that level today and traded as low as 2052c (never quite touched 2050) about noon, then bounced up to 2097c, and fell off again to 2052. A double bottom, and down only 3.6 cents on the day. Trading at 2063 in the aftermarket. Of such days big surprise turnarounds are made. Of course, I might be just a fool spinning cobwebs in my brain, but silver did touch back to its 50 DMA today (2055c), a frequent target of corrections, and on the end of the day chart it closed unchanged. AND that 50 DMA happeneth to coincide, yea, to run atop of, the top boundary of silver's three month trading range, wherefrom it broke away stratosphereward in February. In plain English, silver broke out of that trading range, rallied to 2218c, and now hath fallen back to the breakout point for -- one final kiss good-bye, or to fall lower still? If you like to play guts ball, to take chances when you know the edge is on your side though the risk be great, then it's a ripe place to buy. I may be scalped tomorrow, but I bought this evening. I'm just a durned fool. I'd always rather trust metal in hand than central bank functionaries in Washington. I just don't care for liars much, and never could trust 'em. What if we all got it all wrong? What if the real business of the cosmos isn't work and sweat and tears but joy? What if CS Lewis was right when he said, "Joy is the serious business of heaven." What if joy is the serious business of our world, too, and of all creation? What if instead of the dreary round of self-improvement and economic purpose, the purpose of all creation is joy? Did y'all ever watch a dog? Ever notice how much a dog enjoys being a dog? Acts like a dog just for the fun of it? Ever notice that pigs dance? They do, especially when a storm is kicking up. And when somebody is playing, why do we say he's "horsing around"? What if our whole purpose is just to rejoice in being what we are? To play and write and dance and make music and sing just for the fun of it? To romp for joy in God. Wow. That'd put a lot of economists and politicians out of work, let alone do-gooders. FOMC press conference today demonstrated once more that famous stabilizing effect that central banks were created for. And as usual, the market's reaction followeth not logic. Predictably, the FOMC announced it would "taper" by buying only $55 billion in US treasuries and mortgage backed securities. Yet that was piddling to the announcement that the Fed was only kidding about keeping interest rates low until unemployment hit 6.5%. After all, so many people have given up on ever finding jobs now that 6.5% target is getting right easy to hit. Now the Fed has discovered previously unrecognized "scars" in the economy that won't heal for two more years. Thus the Great Healer, The Fed, must keep interest rates low and raise them only slowly. Rather perversely in the face of the FOMC's resolve to keep repressing the economy with low interest rates, markets interpreted the statement as immediately higher interest rates. Ten year treasury yield shot up 3.39% (bonds dropped) 20 2.772%, well above the 2.708% 20 day moving average, and above the 2.745% 50 DMA as well. -- this despite 15 of the Fed's 16 policy makers believe it will be inappropriate to raise rates this year. I am not a Fed policy maker but only a natural born durn fool from Tennessee, and I believe this is all hogwash, hoakum, and hype. They're lying as fast as their lips can move. They have to keep interest rates down below the inflation rate to inflate away the debt and to keep the US government's borrowing costs low. They've fallen into their own trap, and can't get out. All the rest is lies, and damn the economy, full speed ahead. They are harvesting you like a farmer harvests a herd of pigs, and think no more of you than he does a hanging side of pork. Leaving these disgusting my-honor-is-for-sale-cheap white trash behind, let's look at other markets. Stocks took the FOMC announcement hard, but why I can't guess. Everybody knew the Fed had telegraphed its tapering -- no news there. And if there were a real recovery, rising interest rates really wouldn't slow it down. Actually, rising rates usually accompany recoveries. Makes no sense, but markets have become schizophrenic information junkies, blown from side to side by the latest news without the slightest regard for the next 24 hours. Dow dropped 114.02 or 0.7%to 16,222.17. S&P500 rode the same sled, down 11.48 (0.61%) to 1,860.77. On the charts both indices bounced up to their short term downtrend line, hit it, and bounced down again. Momentum took a hit as the Dow closed below its 16,265.25 20 DMA and the S&P500 closed near its 20 DMA, 1858.43. Both indices are coiling up into a triangle which will break strongly one way or the other. Direction of least resistance is down. The repulsive US dollar index rose 62 basis points to 80.15, clean out of its falling wedge and above its 20 DMA (79.94), both bullish signs. MACD also turned up. The other two scrofulous fiat currencies are fairly mirror images of the dollar. Euro had broken out to the upside from a RISING wedge, above a long standing resistance line about $1.3900 and today fell nearly plumb through the wedge it had left behind. Closed $1.3828, down 0.75%. Yen jumped off a cliff, too, down 0.885 to 97.95 cents/Y100. Pointed itself firmly earthward. 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> Analysis- March 19, 2014 - DailyForex.com Posted: 19 Mar 2014 12:27 AM PDT
By: DailyForex.com Gold prices settled lower yesterday, extending losses to second straight session, as easing fears of a wider conflict stemming from Russia and Ukraine dented the previous metal's safe-haven appeal. The American dollar was also supported by better than expected U.S. housing data. The Commerce Department's report showed that building permits climbed 7.7% to a 1.02 million pace in February. In the meantime, the major stock markets are recovering and that is soaring the demand for disaster insurance. From a technical perspective, the weekly chart remains bearish as the pair trades below the Ichimoku cloud and because of that, I still think that there will be significant resistance levels ahead and breaking through these barriers will not be so easy. Although Monday's bearish engulfing pattern supports this theory, further confirmation is required to say that the trend is about to reverse. The Federal Open Market Committee concludes a two-day meeting today and until the announcement gold prices will probably continue to respect the ascending channel. That means the 1350 level where the top of the Ichimoku cloud (4-hour chart) and the bottom line of the channel reside will be supportive in the short term. If this level remains intact and the XAU/USD pair starts to climb, the first challenge will be waiting the bulls at the 1365 level. If the bulls manage to break and hold above 1365, then we could see a test of the 1376 resistance level. If prices drop below 1346, there is a strong possibility that the market will continue to retreat and head towards the 1333/0 area. A daily close below 1330 would shift things to the bears and increase speculative selling pressure. | ||
| <b>Gold Price</b> Moves Into Important Fibonacci Zone - The Market Oracle Posted: 17 Mar 2014 09:42 AM PDT By: Gregor_Horvat Gold is at the highs once again, testing 1380-1400 area where we see some important Fibonacci levels that could react as resistance in this week. An updated count now shows a five wave move in wave (c) of C that is in final stages after recent break out of a running triangle in subwave four. Keep in mind that on a daily time frame we are still looking at a triangle count where price is now testing important 78.6% retracement level of 1435-1180 move. A reversal down from here back to wave four range could suggest a completed rally for metals. Gold 4h Elliott Wave Analysis Written by www.ew-forecast.com | Try our 7 Days Free Trial Here Ew-forecast.com is providing advanced technical analysis for the financial markets (Forex, Gold, Oil & S&P) with method called Elliott Wave Principle. We help traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our view and bias as simple as possible with educational goal, because knowledge itself is power. Gregor is based in Slovenia and has been in Forex market since 2003. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets; from candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful to traders. © 2014 Copyright Gregor Horvat - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors. © 2005-2014 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication. | ||
| <b>Gold Price</b> Analysis- March 18, 2014 - DailyForex.com Posted: 18 Mar 2014 02:04 AM PDT
By: DailyForex.com Gold declined for the first time in six sessions on technical selling and signs of stabilization in the risk environment. Stocks also rose yesterday, giving less reason for investors to buy gold, following a series of better than expected data out of the world's biggest economy and the limited sanctions on Russia announced by the United States and European Union. Data released by the Federal Reserve showed that industrial production increased 0.6% in February after having declined 0.2% a month earlier. The New York Fed reported that manufacturing in the region climbed to 5.6 this month from 4.5 in February and the National Association of Home Builders' sentiment index came in at 47, slightly up from the previous month's 46. The XAU/USD pair retreated to 1365 support level after it found strong resistance at the 1392 barrier. The pair is trying to hold above this level during the Asian session today but yesterday's bearish engulfing pattern indicates that higher prices are being rejected by traders. That means if the bears increase downward pressure and drag prices below this support at 1365, it is likely that the pair will test the 1355 level which was the top of the previous consolidation area. If that is the case, I would expect to see some support between 1355 and 1345. But if that support can't hold the market, I think the bears will be aiming for 1333/0 next. In order to maintain the control, the bulls will have to push the XAU/USD pair above the 1376 resistance level at least. Only a close beyond 1384.50 could give the bulls another chance to test the 1392 resistance level again. |
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