Gold price | The <b>Gold Price</b> Eased Off One Dollar to Close $1294.60 on the Comex |
- The <b>Gold Price</b> Eased Off One Dollar to Close $1294.60 on the Comex
- The <b>Gold Price</b> Traded as High as $1304.50 Closing Up $8.30
- <b>Gold Prices</b> Today Fighting for Higher Close - Money Morning
- <b>Gold Price</b> About To Break Higher Or Lower | Gold Silver Worlds
- <b>Gold price</b> likely to get a big hike from the new pro-business <b>...</b>
| The <b>Gold Price</b> Eased Off One Dollar to Close $1294.60 on the Comex Posted: 13 May 2014 07:40 PM PDT
The GOLD PRICE eased off one thin paper dollar to $1,294.60 on Comex. Silver emerged victorious with one-quarter cent between its teeth to close at 1950.4c. Silver's range was a colossal 26 cents. Gold ran into selling at its 200 DMA ($1,299.86) but refused to fall lower than $1,289.10. Gold will explode one way or the other soon. What appears to be no interest is more likely balanced force on either side. When one or the other gives way, 'twill move far. The SILVER PRICE spent a day inchworming sideways in a tiny range. It remained today above its 20 DMA (1946c), and continues to trade in a narrow range of 1990c to 1900c. Here, too, silver is coiling for a big move one direction or another. Because both silver and GOLD PRICES keep edging up and pop back every time they are slammed down, my money says they will break out to the upside, and soon. Complacent investors are missing one of this century's magnificent buying opportunities. Today was about like yesterday, only more so, & my concentration is waning because of the rambling roses and my dear wife. Stocks continued to levitate today. Dow and S&P500 both made new highs. Dow rose a tee-tiny 19.97 (0.12%) to 16,715.44 while the S&P500 added an infinitesimal 0.8 (0.04%) to 1,897.45. Meanwhile the Nasdaq Comp, Russell 2000, & Wilshire 5000, nowhere close to all time highs, all fell. Participation is not, as they say, "across the board." This breakout so far does not prove itself as a breakout, and could easily stop here -- or the Dow might add another 100 points. Ultimate high will likely be seen this week or next. I make no prediction, I only watch. Dow in gold rose marginally, up 0.17% to 12.91 oz (G$266.87 gold dollars). This changeth not the chart. Dow in silver rose 0.03% to 855.14 oz (S$1,105.64 silver dollars), but changed nothing there, either. Jumping my bar for confirmation, the US dollar index today leapt 24 basis points (0.30%) to close at 80.19, well above the last high and internal support/resistance. Next barrier is 80.40. Weak economic news from Germany and rumors the German Bundesbank (the former German central bank) would support the ECB in easing sent the euro tanking 0.4% to $1.3689, gapping down again. Methods mentioned to further inflate the euro were paying banks negative interest rates on reserves (in other words, the ECB charging banks to hold reserves) & massively buying packages of bank loans. We suspicious, non-bank yokels recognize this as a method to move rotten loans off the banks' books & onto the ECB's books. I want y'all to push back a minute, take a deep breath, roll your eyes at the ceiling, and think about these ECB easing measures. These are actually adults (chronologically, at least), talking seriously about performing these loony acts with the money supply of a continent. Nothing but goofs & adolescents in charge. Teenagers with nuclear weapons & car keys. Speaking of goofs & adolescents, Little Timmy Geithner has published a book explaining how the 2008 crash was everybody else's fault & his part as O'Bama's pretend Treasury Secretary was perfectly executed. Now little Timmy never worked a day in his life (unless you count a high-level government job working), never met a payroll, never ran a bank, but because he had worked for Henry Kissinger & then Bob Rubin & Larry Summers as a Step-and-Fetch-It in the Treasury Department, was appointed head of the NY Fed just in time to ignore the Big Banks' shenanigans that spawned the 2008 global financial crisis. Little Timmy never noticed anything wrong on Wall Street, imagine that! And Little Timmy was responsible for the "Too-Big-To-Jail" policy that ensured none of his cronies got prosecuted for their roles in the frauds that brought on the 2008 crisis. To such doafs is entrusted the financial well-being of your family. Ain't central banks and government economic control jus' grand? I took my wife Susan to her cardiologist at Vanderbilt in Nashville yesterday because after two heart surgeries (2008 & 2012) she still is plagued with atrial fibrillation, a very fast heartbeat in her heart's upper chambers. Drugs have not solved the problem, so we left yesterday with the verdict that she must either go to the Big Bertha of drugs, amiodarone, or have an ablation. In an ablation they cut the firing fibers in the heart which solves the atrial fibrillation but leaves her dependent on her pacemaker. Better make sure that battery's good. This morning her cardiologist called to tell her that she had called a pacemaker expert who allowed that reprogramming her present pacemaker might give Susan some relief. That she has performed tomorrow. I deeply appreciate your prayers for Susan -- please don't stop yet! Aurum et argentum comparenda sunt -- -- Gold and silver must be bought. © 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> Traded as High as $1304.50 Closing Up $8.30 Posted: 12 May 2014 04:31 PM PDT
Today the GOLD PRICE traded as high as $1,304.50, but fell back at Comex close to $1,295.60, up only $8.30. Silver added 42.3 cents to 1950c. Over the weekend the gold price traded down to $1,277.70, but began recovering and today climbed steadily to a $1,304.50 high. Thrice now gold has validated the bottom boundary of an even-sided triangle (forming since mid-April.). If the GOLD PRICE closes above $1,315.80 (last low), it will break out of this triangle. The SILVER PRICE pattern over the last three days followed gold's, with a 1905c low over the weekend and a 1967c high today. Silver has now walked through its downtrend line and closed today above its 1949c 20 day moving average. Most frustrating part of my job is watching investors. Why? Because they love to buy a rising market, especially after it's been rising a long, long time -- precisely when they shouldn't buy. And they hate to buy a low market, especially if it's been low a long time, like silver and gold prices. But the road to riches is not "buy high and sell low," but just the opposite. And nowhere are the nerves wracked more or more courage needed than to buy when it's low, based on your own knowledge and analysis. So I sit here watching investors shun gold and silver at precisely the instant they ought to be buying. I reckon that goes with the territory. Expect silver and gold prices to grind higher through May. Stocks are topping now, although they may make additional marginal new highs. Watch for it. As I've been expecting, Stocks made a new high here in May. Dow today posted a new all time high close at 16,695.47, up today 112.13 or 0.68%. S&P500 joined in, up 18.17 (0.97%) to 1,896.65. But if I owned stocks I would be sore distressed about the non-confirming Russell 2000 and Nasdaq Composite and Wilshire 5000, all many furlongs from new highs. It is instructive for my Tennessee hick mind to gaze upon the Bank Stock Index ($BKX) divided by the S&P500 ($SPX). Lo, since 2011 late Bank Stocks have outperformed the S&P500, yea, even these very scoundrel, bankrupt, Too-Big-To-Fail- Too-Big-To-Jail banks. A clearer sign of faith in the financial system would be impossible to imagine than faith in these parasitic behemoths. Behold! the spread broke down early in April, or, in English, the S&P500 began outperforming the Bank Stock Index. Lo, also instructive to my benighted mind, which lives so far back in the woods that I have to order sunlight from Sears and Roebuck: Divide the Bank Stock Index by Gold. Since (as you would expect) the gold peak in August 2013 bank stocks have outperformed gold as faith in the (preposterous, ridiculous, jerry-built, predatory, corrupt) financial system solidified. That trend went into high gear in 2013, but turned and broke down in January 2014. It remains in an overall downtrend, and within that downtrend is -- get this -- trending down. What can it all mean? That investor confidence in the financial system is turning down and shifting to gold, and, ultimately that implies, from financial to tangible assets. In case you're wondering, the BKX has turned down against silver as well. But what do I know, a durned nacheral born fool from Tennessee? What's my hick opinion against all them Wall Street Smarties? Last Thursday the head criminal at the European Central Bank (ECB) one Mario Draghi (look for his picture coming in post offices soon) announced he would begin inflating the euro more. As usual, he announced no real move but only jawboned, but that was enough to break the euro's back. Friday the US dollar index shot up 45 basis points to end at 79.93. The euro's uptrend was crushed. The Yen was indifferent. Today the US dollar index rested quietly in a narrow range and rose only 2 basis points to 79.95. The euro fell another 0.1% to $1.3757, while the Yen dropped slightly (0.25%) to 97.92. Dollar should remain strong for several months, although technically it must still close above 80.20 to confirm its reversal. Before we turn from stocks, let it be noted that in spite of new all time highs in the Dow and S&P500, the Dow in silver did not rise but fell. The Dow in Gold rose only 0.2%, and is nowhere near its all time high (13.80 oz or G$285.27 gold dollars). 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> Today Fighting for Higher Close - Money Morning Posted: 09 May 2014 10:02 AM PDT Global central banks and geopolitical concerns guided gold prices this week - mostly lower. Yellow metal prices bucked the trend Friday and were modestly higher in morning trading.
Should gold prices finish higher today (Friday), it would be the first positive session for the yellow metal in the last four trading days. The week didn't start out too punishing for gold, with prices slipping just $0.70 to $1,308.30 on Tuesday. But, selling gained momentum Wednesday, thanks to U.S. Federal Reserve Chair Janet Yellen. Gold Prices React to Fed - AgainThe mid-week slide came as Yellen presented an overall optimistic assessment of the U.S. economy in her testimony to Congress. The Fed Chief also reaffirmed the central bank's commitment to continue winding down quantitative easing (QE) measures, which have been a catalyst for gold prices since 2008. "As long as we continue to see improvement in the labor market and we believe the outlook is for continued progress, and as long as we continue to believe and see evidence that inflation will move back up over time to our 2% longer-run objective, we anticipate continuing to reduce the pace of our asset purchases in measured steps," Yellen said. Following Yellen's comments that economic data suggests a rebound in consumer spending and business production, "putting the overall economy on track for solid growth in the current quarter," the gold price fell below the key $1,300 level and stocks (risk-on trades) ticked higher. June gold, the most active yellow metal contract, dropped $19.70, or 1.5%, to $1,288.90 an ounce Wednesday. Gold prices have been pressured over the last several weeks amid the ongoing taper, which sets the stage for an eventual interest rate increase sometime next year. Gold, an alternative asset, struggles when interest rates rise and interest-bearing investments are more appealing to income seekers.That pressure hung around Thursday, with gold futures ending lower for a third consecutive session. After trading as high as $1,295.50, and as low as $1,284. 80, gold for June delivery finished Thursday's session in New York down $1.20, or 0.1%, to $1,287.70 an ounce. Weighing on gold prices Thursday were comments from European Central Bank President Mario Draghi that a "moderate recovery" is continuing in the euro area. Real gross domestic product rose 0.2% in the region's 2013 final quarter, marking the third consecutive quarter of increases. Moreover, recent indicators suggest the recovery continued in Q1 of 2014 and the start of this year's second quarter. As a result, the ECB left its benchmark interest rate unchanged at 0.25%. There had been speculation the central bank was going to trim rates or announce a round of bond buying with inflation tame (0.7% in April) and the euro rising. Either move would have been bullish for gold. Standard practice to keep a lid on inflation is to raise interest rates. With Europe however facing deflation, not inflation, one solution could be big purchases of government bonds or other assets. Last month, Draghi said the ECB was prepared to engage in assets purchases, akin to QE. "The strengthening of the euro in context of low inflation and still low levels of economic activity is a cause for serious concern in the view of the governing council," Draghi said Thursday. He added "the governing council is comfortable acting next time," but didn't say what action might be taken at the next policy meeting on June 5. Also taking some of the shine out of the gold price this week is a somewhat calmer, yet still simmering, situation in Ukraine. In a meeting in Moscow on Wednesday with Swiss President Didier Burkhalter, Russian President Vladimir Putin said Russian troops have been pulled back. But, Putin noted they've been yanked back to training grounds and secure locations for "regular exercises." Tensions in the region heated up some Thursday when pro-Russian militants in eastern Ukraine opted to go ahead with Sunday's referendum on autonomy, in spite of Putin's call for a postponement. In response to defying the request, Putin presided over military exercises that Russian news agencies said "replicated a massive retaliatory nuclear strike in response to an enemy attack." Friday, Putin arrived in Crimea as the key Ukrainian city held its first Victory Day commemorations since Russia's takeover in late March. Gold's safe-haven status is likely to pick up over the next several weeks with Ukraine's presidential election set for May 25. The presidential vote is vital for national reconciliation after former President Viktor Yanukovych, a Kremlin ally, was toppled in February by pro-Western protesters. There's another, bigger factor that will move gold prices higher in 2014: China. Go here for the details, outlined by guest writer and U.S. Global Investors CEO Frank Holmes. Related Articles: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| <b>Gold Price</b> About To Break Higher Or Lower | Gold Silver Worlds Posted: 12 May 2014 02:48 PM PDT The price of gold started today's night session with one of those typical sell orders, bringing the yellow metal to its critical support level of $1,280. Shortly after the New York trading session begun, gold spiked higher and touched $1,305 an ounce. That is a 2% spread on the day, from low to high. The daily chart (see below) shows a strong support level around $1,270 – $1,280, which we indicated with the blue horizontal line. Since the peak of mid-March, gold has made lower highs, which should be a reason for concern, at least from a chart point of view. However, the potentially good news for bulls is that, after touching three times the descending support line (indicated in blue as well), it seems that the gold price has moved outside that trading pattern. Since mid-April, gold has made a first higher high. Note how the moving averages are flattening at this point in time, a sign of consolidation. It is critical though, as the chart pattern indicates, that $1,270 – $1,280 is NOT breached. Otherwise the bulls are in trouble.  gold price – 12 May 2014 The chart learns also that gold is ripe for a trending move. The coming days will show whether the move will be higher or lower; both directions are still open in our opinion. On the flip side, we should note that the metals are not really favored by two factors. First, the miners are not bullish in terms of price action and volume. Second, from a seasonal point of view, we are entering the most quiet period of the year. Both factors would support the bearish case, at least on the short run. A retest of the December lows should not be excluded till July/August. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| <b>Gold price</b> likely to get a big hike from the new pro-business <b>...</b> Posted: 12 May 2014 10:34 PM PDT Posted on 13 May 2014 with 1 comment from readers Raising the gold price is unlikely to be the first priority of the new Indian government to be announced on May 16th. But traders in Dubai are increasingly excited by this almost certain consequence. A panel at last month's Dubai Precious Metals Conference (click here) on the Indian perspective pointed to the probable removal of the tax on gold that depressed prices last year by a new pro-business government. So much of the gold trade has been driven into the black economy that the tax is not working in any case. However, removing it will boost demand from the world's second largest gold consumer. The impact on prices could be every bit as strong on the rebound as the 32 per cent fall to the downside last year that was weighted down by hedge funds taking this cue to exit gold. Sold on gold? Will they all pile back in as India gets a gold-friendly government? Stranger things have been known. Meanwhile, the election of a pro-business government seems almost in the bag. Narendra Modi called for unity in India as exit polls signaled his opposition bloc would win a majority in national elections, boosting his chances of taking power after pledging to revive Asia's third-largest economy. Haslinda Amin reports on Bloomberg Television's 'First Up'… Posted on 13 May 2014 Categories: Gold & Silver, Video Channel |
As has been the case over the last several weeks, precious metal traders took long positions ahead of what could be a volatile weekend in Ukraine. At last check, June gold was quoted higher by $5.50 at $1,293.30 an ounce. Spot gold was up $1.80 to $1,292.60.
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