Gold price | Silver and <b>Gold Prices</b>: The <b>Gold Price</b> Dropped $27.20 Closing at <b>...</b> |
- Silver and <b>Gold Prices</b>: The <b>Gold Price</b> Dropped $27.20 Closing at <b>...</b>
- Silver and <b>Gold Prices</b>: The <b>Gold Price</b> Closed Up $8.60 at $1,327.20
- <b>Gold Prices</b> 2014: Do What Goldman Does, Not What It Says :: The <b>...</b>
- <b>Gold Prices</b> 2014: What's Next After Tuesday's 2-Week High
| Silver and <b>Gold Prices</b>: The <b>Gold Price</b> Dropped $27.20 Closing at <b>...</b> Posted: 15 Apr 2014 04:52 PM PDT
The GOLD PRICE dropped $27.20 (2.1%) to $1,300 while the SILVER PRICE erased 52.1 cents to close Comex at 1947.8c. For the gold price, two outcomes are possible. First is a return to or near the April low ($1,277.40). Second is a drop to a lower low, $1,240 - $1,260. Yet a third possible outcome is that the June and December lows were not a double bottom and one further drop may come. I account that the least likely, and look for a low here by the end of the week, but I'm no more'n a nacheral born durnd fool from Tennessee, so what do I know? Silver and GOLD PRICES have come unsynchronized. Silver's drop today wrecked the 1960c support, and sets the stage for a spike to next support about 1897c. This should come fast, next three or so days. You'd think that an institution charged with promoting the gold industry would produce reports that at least cast the best light on gold's prospects. You'd think wrong, if you're thinking about the World Gold Council. They've been negative on gold for, oh, the last 14 years or so. Today they issued a report that contained a nugget about Chinese business using physical gold as collateral for bank credit ($40 bn worth) but they managed to tease a gloomy forecast even out of this inventive monetary use. That and bad economic news out of China appeared to be the catalyst for gold's drop today. But when the drop is ready, the cause appears. That fall was likely already in the market, and the report, plus jitters over the first anniversary of the April Massacre in gold and silver last year, furnished an excuse. I had been thinking that the gold price had possibly completed a three leg (A-B-C) correction, but clearly another leg remains. That began today. Stocks recovered a bit today. Dow Closed at 16,262.56, up 89.2 (0.6%) and even jumped over its 50 DMA. S&P500 lifted 12.37 (0.7%) to 1,842.98, but not above its 50 DMA. Nasdaq Comp nearly touched its 200 DMA at 3,942.51 when it hit a low of 3,946.03, then turned up. Did that surprise anybody, that buyers were lurking at the 200 DMA? Stocks have suffered brutal technical damage. I suspect we will look back and see the early -2014 new all time highs as the peaks in stocks, although I still expect one last peak, maybe lower, maybe higher, in May. Although the US Dollar index rose only 6 basis points (0.7%) to 79.89, clearly money has flown into US treasuries because they are higher and the yield on the 10 year treasury is trying to break down, indeed, has broken down. Copper fell off the cliff with the bad news out of China, and closed at $2.99. Nasty break. The other scabrous, disgusting fiat currencies did nothing today, and the Central banking criminals were quiet. Y'all keep your heads. Lift your eyes to the horizon. In the next few days the market will hand you a superb buying opportunity in silver and gold. Get locked and loaded. Please remember I will be away the rest of the week attending a grazing seminar. I won't be sending commentaries, but will return on Easter Tuesday. Y'all have a blessed Easter celebration! Aurum et argentum 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 Up $8.60 at $1,327.20 Posted: 14 Apr 2014 07:36 PM PDT
Aurum et argentum 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 Prices</b> 2014: Do What Goldman Does, Not What It Says :: The <b>...</b> Posted: 16 Apr 2014 10:01 AM PDT By: Money_Morning
That might sound contradictory at first, but not when it comes to Goldman. Jeffrey Currie, the investment bank's head of commodities research, has repeated his $1,050 target several times since last October, when he declared gold a "slam-dunk sell" along with other precious metals.
That Goldman has seen fit to repeat its $1,050 so frequently over the past six months smacks of frustration. While gold prices did briefly slip below $1,200 in December, the yellow metal is up about 17% since then. Gold prices were trading at about $1,327 on Monday afternoon - hardly the tumble Currie predicted last fall. Last month, as gold prices were touching their high of $1,382, Currie took the opportunity to remind the world that Goldman was still bearish. "It would require a significant, sustained slowdown in U.S. growth for us to revisit our expectation for lower U.S. gold prices over the next two years," Currie wrote in a research note. Money Morning Resource Specialist Peter Krauth disagrees. From where he sits, the gold selloff pretty much exhausted itself in January. "The largest physical gold ETF, the SPDR Gold Trust (NYSE ARCA: GLD), sold off 42% of its metal between its record high in Dec. 2012 and Jan. 2014, or 564 tons of gold. That selling looks to have bottomed in mid-January and GLD holdings have started to grow again since then - a major trend reversal," Krauth said. While gold prices may not get back to $1,900 an ounce, neither are they likely to slump down to $1,000. Even if gold prices do slip back below $1,200, demand from central banks as well as Asia is likely to keep them from slipping to $1,100 or lower. So why is Goldman so insistent that gold prices are going to drop all the way to $1,050, and why should investors view the bank's forecasts with caution? To answer that, we need to look at Goldman's track record... Goldman and Gold Prices: A Shady History Let's first look at some of Goldman's gold price forecasts over the past few years and how they panned out. For example, back in 2007, Goldman was bearish on gold, telling its clients to sell. In fact, Goldman declared selling gold in 2008 one of its Top 10 tips of the year. Of course, gold prices rose 12.2% in 2008 and another 23.4% in 2009. By November 2011, Goldman was actually bullish on gold prices - it raised its target to $1,930 an ounce about one month after gold prices had peaked. By May 2012, with gold prices below $1,600, Goldman adjusted its bullish target to $1,840 an ounce. Gold prices did rise slightly after that, but never made it to $1,800, and thereafter started a precipitous decline. By December 2012 - when gold prices were trading in the neighborhood of $1,700, Goldman revised its forecast to $1,800. Six months later gold prices were slipping toward $1,200. Goldman finally reversed course in February 2013, beginning its string of bearish forecasts that have continued to the present. That's actually good news for gold prices, as Goldman always seems to be late figuring out where gold is headed. Or is it? Does Goldman Manipulate Gold Prices? It doesn't quite make sense that a top-shelf investment bank like Goldman Sachs would be wrong so often about the direction of gold prices. But when you look at Goldman's own gold investing habits, a suspicious pattern emerges. Goldman is usually buying while it publicly advocates others to sell, and vice versa. It knows many investors will follow its "advice," which in turn helps Goldman to buy gold at lower prices and sell gold at higher prices. Sure enough, as Goldman was declaring gold a sell last year, it was scooping up the yellow metal like crazy. In the second quarter alone it bought 3.7 million shares of the GLD ETF - valued at about $500 million. If you've ever suspected gold prices are being manipulated, you're not alone - and you're right, they are," said Money Morning Chief Investment Strategist Keith Fitz-Gerald. "Bigger firms like JPMorgan, Goldman Sachs, PIMCO, or any of a dozen other behemoths simply release a 'research report' that is interpreted as gospel by the mainstream media and swallowed hook, line, and sinker by millions of unsuspecting investors as a reason to buy or sell." Knowing this is going on is vital for retail investors, not just so they don't get snookered by the Wall Street heavyweights, but so they can adjust their own strategy accordingly. Fitz-Gerald said dollar-cost averaging - buying a set dollar amount of an investment at regular intervals - is one tool people can use to avoid becoming a Wall Street patsy. "Dollar-cost averaging forces you to buy more when the price is low and less when the price is high," Fitz-Gerald said. "Maybe you can't compete with the big banks, but you can beat them at their own game." Do you believe the reports on precious metals and stocks issued by the Big Banks are valid or simply tools to manipulate the markets? Tell us on Twitter ;@moneymorning or Facebook. Source : http://moneymorning.com/2014/04/14/gold-prices-2014-do-what-goldman-does-not-what-it-says/ Money Morning/The Money Map Report ©2014 Monument Street Publishing. All Rights Reserved. Protected by copyright laws of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), of content from this website, in whole or in part, is strictly prohibited without the express written permission of Monument Street Publishing. 105 West Monument Street, Baltimore MD 21201, Email: customerservice@moneymorning.com Disclaimer: Nothing published by Money Morning should be considered personalized investment advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized investent advice. We expressly forbid our writers from having a financial interest in any security recommended to our readers. 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| <b>Gold Prices</b> 2014: What's Next After Tuesday's 2-Week High Posted: 09 Apr 2014 10:21 AM PDT Gold Prices 2014: Gold prices per ounce broke through $1,300 on Tuesday, ending the session at their highest level in two weeks. NYSE: GLD Apr 16 01:56 PM loading chart... Price: 125.42 | Ch: -0.08 (-0.1%)June gold finished the day up $10.60 at $1,308.90 an ounce. Spot gold ended the session on a favorable note as well, up $12 at $1,309.50. The yellow metal is up 1.1% in April, and up 8% year to date. Stoking yellow metal gains Tuesday was a weaker dollar and troubling headlines out of politically unstable Ukraine. Gold, a safe-haven investment, moves when market uncertainty and geopolitical tensions increase. Senior Kitco.com analyst Jim Wyckoff confirmed with MarketWatch that gold is indeed "getting a boost from some safe-haven buying interest and by solid losses in the U.S. dollar index. The Russia-Ukraine matter is back on the front burner of the marketplace Tuesday." The situation in Ukraine is growing grave. Tuesday, Russia's foreign ministry issued a warning that any use of force by Ukrainian authorities to extradite pro-Kremlin separatists could thrust the country into civil war. The separatists managed to gain control of government buildings in three eastern cities in Ukraine so far. Contradictorily, bullion prices have pulled back sharply from the $1,400 level they reached in mid-March. However, those prices reflect the dated news of decreasing geopolitical tensions, when Russia stated it has no intention of invading other parts of Ukraine outside of Crimea. Expect bullion to charge higher on the more recent developments to the east. Gold prices in 2014 gained additional momentum amid weakness in equity markets, and a March jobs report that was ho-hum at best. The yellow metal's gains this year are tiring out bearish sentiment - investors are waking up to the opportunity in gold's rise... The Bears Are Getting Tired, Boosting Gold Prices in 2014
But things are looking much brighter for gold - and gold investors - this year. "Gold has rebounded from late December into mid-March, tacking on about $200 an ounce, or nearly 17%," Money Morning Resource Specialist Peter Krauth said. "To a large extent, I think the bears were exhausted, and most (if not all) sellers had finally sold. So, gold was coming off a technical low and sentiment extreme around the $1,190 price range." Alongside bullion, gold stocks and gold exchange-traded funds took a beating last year. The bleeding, however, appears to have subsided. "The SPDR Gold Trust (NYSE: GLD), the largest physical gold ETF, sold off 42% of its metal between its record high in December 2012 and January 2014, or 564 tons of gold," Krauth explained. "That selling looks to have bottomed in mid-January and GLD holdings have started to grow again since then, a major trend reversal." Industry experts believe consumers in Asia are picking up the outflows. "Buying in that area has been exceedingly strong, with China's consumers buying up 41%, setting a new record of 1,065.8 tons and beating out perennial leader India at 974.8 tons," Krauth continued. There's another factor behind rising gold prices in 2014 - massive buying (by the hundreds-of-tons) from these institutions... Central Banks Will Keep Bulking Up Gold StoresIraq's central bank said Tuesday it might boost its gold position in the next several months. It's already purchased some 60 tons of the yellow metal over the past two months. In March, Iraq bought 36 tons of gold valued at $1.6 billion. It's now the 43rd largest holder of gold reserves globally. The move was aimed at stabilizing the Iraqi dinar against foreign currencies. Turning a portion of oil revenues into gold reserves is one strategy recommended by the International Monetary Fund (IMF) for developing resource-rich countries. The Middle East country is also likely taking advantage of gold's "cheap" price. "Central banks took advantage of 2013's low gold prices to stocks up," Krauth said. "They bought 368.9 tons above the five-year average of 282.6 tons. And, China's central bank is thought to have loaded up since it last reported its official gold holdings in 2009 at 1,054 tons. I believe China's central bank has probably accumulated about 4,000 tons by now. But we'll have to wait for their next official announcement, which could come soon, to know for sure." What we do know right now is that the flight to the safe-haven metal is indeed back on, and investors can strengthen their portfolios - and nab significant profits - from this upswing of gold prices in 2014. Related Articles |
David Zeiler writes: Goldman Sachs (NYSE: GS) must really want to buy more gold; this week it repeated yet again its forecast for gold prices in 2014 to drop to $1,050 an ounce.
But investors need to be very skeptical when looking at Goldman's forecasts for gold prices. Not only are they often wrong, but the bank frequently does the opposite of what it recommends.
Last year was an excruciating year for gold bugs. The precious metal took a shellacking, ending 2013 down a steep 28%.| 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 |
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