Silver and <b>Gold Prices</b>: The <b>Gold Price</b> Gained $6.30 to $1,290.50 |
- Silver and <b>Gold Prices</b>: The <b>Gold Price</b> Gained $6.30 to $1,290.50
- 2014 <b>gold price</b> rally fades as ETF investors, hedge funds exit market
- Are Gold Miners Predicting an Upswing in <b>Gold Prices</b>?
- <b>Gold Price</b> Analysis- April 25, 2014 - DailyForex.com
| Silver and <b>Gold Prices</b>: The <b>Gold Price</b> Gained $6.30 to $1,290.50 Posted: 24 Apr 2014 05:23 PM PDT
The GOLD PRICE gained $6.30 to $1,290.50 while silver added 25.2 cents to 1968.2c. These numbers tell no tale without their ranges. The SILVER PRICE today a little before 8:30 a.m. New York time spiked to a low at 1896.8c, fulfilling that 1900c target. It tarried but an hour, then shot clean up to 1980c by 11:30, and remained the rest of the day above 1960c. Not only does this fulfill my awaited target, yea, it also makes the first half of a key reversal (break to new low with a higher close for the day). All that is needed now is a close tomorrow higher than today's. The GOLD PRICE followed the same pattern, with an early low at $1,268.90. That's a new low for this move, and close enough to the $1,270 target to fit. Add to that a higher close for the day, a rebound of $22.50, and you'll begin to savor the strength. Tomorrow both silver and gold prices need to close higher to confirm those key reversals, but I reckon they will. That's it, waiting's over. That should be the bottom of the correction that began after the February high. Okay, y'all listen up now. Most days nothing much happens. The world spins on about like it always has, and markets nudge a little one way or the other. Here's a surprise: Dow Jones Industrial Average closed today unchanged at 16,501.65, something that only rarely occurs. Today's range was wider, top and bottom, than yesterday's, but the Dow gained nought. S&P500 rose 3.22 (0.17%) to 1,878.61. Although the S&P500 rose, it bumpeth only against its top trading channel line, and breaketh not out. Nasdaq Comp looketh none too perky, but did manage to close above its 20 day moving average. Yea, but look, gaze steadily, stare at the Dow measured in metals. Dow in gold dropped 0.24% to 12.76 oz (G$263.77 gold dollars), not a great change from yesterday but baby step by baby step painting out a double top and probable reversal. Lo, the Dow in Silver sank 1.6% to 838.16 oz (S$1,083.68 silver dollars). Did the top for this move occur yesterday? Needs confirming, but the full stochastics turned down yesterday, along with the MACD. Meanwhile, in the Cloud-Cuckoo Land of fiat national currencies, the US dollar index begins to look like a loser. Mark, it hath tried now thrice to pierce its 50 and 20 DMAs overhead, and hath failed each time. Looks like a SELL, but then, it's looked that way since 1934. Dollar index lost 8 basis points (0.1%) to 79.87. Euro gained 0.8% to $1.3828, and although above its 20 DMA, remains in a downtrend, like a mountebank in a moth-eaten tuxedo. Japanese Yen (is there some other yen?) gained 0.23% to 97.77 cents per 100 yen, but still looks ugly as five miles of bad gravel road. - 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.  | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2014 <b>gold price</b> rally fades as ETF investors, hedge funds exit market Posted: 22 Apr 2014 03:15 PM PDT
The gold price extended recent weakness on Tuesday losing sight of the psychologically important $1,300 level as investors rotate out of the metal into surging stocks. On the Comex division of the New York Mercantile Exchange, gold futures for June delivery settled at $1,281.10 an ounce, down $7.0 from yesterday's close. Earlier in the day the gold price fell to levels last seen February 10 of $1,275 an ounce. In contrast the US benchmark stock index, the S&P 500 recorded its sixth straight session gain. Post-Easter trade remained thin with only 110,000 contracts changing hands against usual volumes of closer to 200,000 contract of 100 ounces each. "Traders seem to have given up on gold as a provider of safe haven at the moment," Saxo Bank's head of commodity research Ole Hansen said in a note: "Instead the focus remain firmly on the United States, where earnings and economic data continue to indicate interest rates will rise sooner rather than later. "Hedge funds cut their net-long position back to February levels and total ETP holdings have dropped to a new 2009 low. So with the US healing, Chinese demand questionable and investment demand not showing signs of picking up, gold is back on the defensive." Latest data from US Commodity Futures Trading Commission show hedge funds and other large investors added to bets that the price of the metal would fall for the fourth week in a row. Short positions – bets that price would decline – held by managed money increased 15% to just under 28,000 lots in the week to April 15 according to CFTC data. At the same time long positions were cut by 4,766 contracts which translates into a 8.5% decline in the net-long positions held by commercial traders in the precious metal to 90,137 futures and options. Investors also continued to pull money out of the SPDR Gold Trust (NYSEARCA:GLD), the world's largest physically-backed gold ETF accounting for some 40% of total holdings in the industry. Holdings in GLD dropped to 792.1 tonnes or 25.46 million ounces on Tuesday, the lowest level since January and down almost 30 tonnes in less than three weeks. The world's physical gold trusts have experienced net redemptions of more than 800 tonnes collectively last year, with the value of precious metals assets investments falling by a record $78 billion in 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Are Gold Miners Predicting an Upswing in <b>Gold Prices</b>? Posted: 24 Apr 2014 09:22 AM PDT  Source: Thinkstock Over the past couple of days, the price of gold has been heading slightly downward. In fact, bears might argue that because the price of gold has been trading below $1,300 per ounce for a couple of days that we can expect additional downward price action in the gold price. However, I think it might be time to look at the market from a different perspective — that is, we should be looking at gold mining shares. While gold has been selling off, the exact opposite has been taking place in the gold mining stocks. If we look at the largest gold miner ETF, the Market Vectors Gold Miners ETF (NYSEARCA:GDX), we see that the prices of these stocks have been incredibly strong over the past couple of days. Since hitting a low of about $23 per share on Monday afternoon, this fund has traded up to $24.50, a more than 6 percent return. This price action is extremely positive, especially since the Market Vectors Gold Miners ETF made a low at the same level toward the end of March. This means that we could be looking at a double bottom in the gold miners, which means that more aggressive gold traders are betting on a rise in the gold price. This sentiment is corroborated by the fact that when the Market Vectors Gold Miners ETF reversed in March, it was met with heavy volume, which means that a lot of investors are betting on further upward price action in the gold price. If we look back at the performance of the Market Vectors Gold Miner ETF relative to the gold price, we see that it has generally been a leading indicator. For instance, going back to the market peak in 201,1 we see that the Market Vectors Gold Miner ETF started to make a triple top as early as late 2010. While each peak was slightly higher than the last, we find that it wasn't by much, especially considering the large amount of volatility we see in gold mining shares. This peaking process began months before we saw the peak in gold prices. If we go back to the market trough in December, we find that the Market Vectors Gold Miners ETF hit its low around December 19, and it started to move upward despite the fact that gold continued to trend lower for the remainder of 2013. Had you taken the cue from gold miners, you would have been able to predict the rebound in gold prices. Now we are seeing a strong bounce off a double bottom in the Market Vectors Gold Miners ETF, and I think that we can expect something similar. We might see the price of gold trend downward for a couple of more days, or even weeks, but the strength with which we are seeing gold miners rise in price these past couple of days gives me a lot of confidence that we are nearing a bottom. With that being the case, I think that traders should consider taking a position in the Market Vectors Gold Miners ETF (GDX) on any weakness, and they should use a stop order of about $23 per share when doing so. Those looking for a less volatile trade should take a look at the SPDR Gold Trust (NYSEARCA:GLD). As I said, we could see continued weakness in the price of gold even as we see strength in the gold mining stocks. Since there is significant support in the gold market at around $1,270 per ounce, traders should consider taking a position in the SPDR Gold Trust at around $122 per share (which converts to about $1,270 per ounce for the gold price). Note that the SPDR Gold Trust also looks like it is making a double bottom, but I am less confident that this will hold because it is not bouncing off of this level, which means we have not yet found strong buying in the gold market. Ultimately, gold is in a long-term bull market, and it has been in an intermediate bear market within this bull market. It is difficult to know for certain if this bear market has ended, but given the strength in gold mining shares, I think it is a good time to bet that gold prices will move higher from here. Disclosure: Ben Kramer-Miller owns gold coins and shares in select gold miners. More From Wall St. Cheat Sheet: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| <b>Gold Price</b> Analysis- April 25, 2014 - DailyForex.com Posted: 25 Apr 2014 01:10 AM PDT
By: Dailyforex.com Gold strengthened against the American dollar for a second session on Thursday after comments from Russian President Vladimir Putin boosted anxiety that tensions over Ukraine could escalate. Putin said "If it's true that the current regime in Kiev sent the army against citizens inside its country, then it is a very serious crime against its own nation. It will have consequences for the people who make such decisions, including relations between our countries. We'll see how the situation develops and we'll make conclusions based on the reality on the ground". The headlines from the region overshadowed upbeat economic reports out of the United States and helped gold to bounce off of the 1268 support level. As I pointed out in my previous analysis, the 1268 support level which caused prices to stop or reverse several times in the past eleven months is a critical key for a bearish continuation. Although the continuing crisis in Ukraine is likely to keep a floor under the market, there are some tough resistance levels ahead such as 1300, 1307 and 1312. Since the pair is trading below the Ichimoku clouds on both the daily and 4-hour time frames, the bulls' advance might be slower than expected. If the pair starts to retreat, look for support around the 1285/3 area where the Tenkan-sen line (nine-period moving average, red line) and the Kijun-sen line (twenty six-day moving average, green line) currently reside on the 4-hour chart. Breaking below that would indicate that the market may want to test 1277 again. In order to gain more traction and reach the 1300 resistance level, the bulls will have to defend their new camp (1285/3) and push prices above 1293. A daily close above 1300 would make me think that the 1307 and 1312 levels will be the next possible targets. |
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