It Appears Silver and <b>Gold Prices</b> Will Correct this Week |
- It Appears Silver and <b>Gold Prices</b> Will Correct this Week
- Five Secrets to Selling <b>Gold</b> Jewelry - Guardian Liberty Voice
- Will <b>Gold Price</b> Continue to Consolidate? :: The Market Oracle <b>...</b>
- If Appetite for Gold is Low, Why are <b>Gold Prices</b> so Resilient? | Gold <b>...</b>
- Today's <b>Gold Prices</b> And Gold Investing News - Money Morning
| It Appears Silver and <b>Gold Prices</b> Will Correct this Week Posted: 07 Jul 2014 04:01 PM PDT
It appears silver and GOLD PRICES will correct this week. It might be mild, but might turn really scary -- bull markets have a habit of doing that, to "shake off as many riders as possible." Y'all, of course, are clever enough to recognize any correction as an opportunity to back up your truck and load up. Mild correction takes the SILVER PRICE to 2040c (200 DMA) and gold to $1,295, even 1,288 (200 DMA). Oddly enough, a 50% correction of the larger move, from June first's $1,240.20 to July first's $1,334.90 would also take gold to $1,287.55, right on the 200 DMA at $1,287.68. A tougher correction might take gold to $1,275, silver to 2000c or even 1950c. Watch out! Closes above 2133.5c or $1,335 choke off any correction and add another upleg to the metals' rise. Nobody was much interested in markets today, probably still hung over from the weekend. Stocks dropped after last Thursday's new highs. Dow lost 44.05 (0.26%) to 17,024.21. S&P500 edged back 7.79 (0.39%) to 1,977.65. Chance is large y'all will see a significant stock peak this month. More interesting to me than the raw stock performance is stocks' performance against metals. Dow in silver has continued to rise, another 0.51% today to 810.14 oz (S$1,047.45 silver dollars) and has bounced off its 200 DMA and punctured its steep downtrend line. Nothing yet suggests anything more than an ordinary correction here. Dow in gold was flat today at 12.93 oz (G$267.29 gold dollars). It has reached important resistance made stiffer by the confluence of the 20 DMA (13.00 oz/G$268.73) and 50 DMA (19.97 oz/G$268.11). Currencies flat lined today except for the yen. US dollar index lost one measly basis point to end at 80.26, euro lost 0.02% to $1.3605. Yen rose 0.32% to 98.19, but did no more than creep above its intertwined 20 and 50 DMAs. Remains within that long even-sided triangle. 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.  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Five Secrets to Selling <b>Gold</b> Jewelry - Guardian Liberty Voice Posted: 05 Jul 2014 06:58 PM PDT Gold prices have seen an unexpected rise in 2014 and people with used gold jewelry are wondering if this is the right time to sell. Here are five secrets that buyers do not want sellers to know when they purchase their used gold jewelry. The price index switch. U.S. buyers of gold jewelry will use one of two gold price indices to set their purchase prices: the New York Spot Gold price or the London Fix price. They will typically use the index that their refiner uses, but sometimes shady buyers will say they use one index when they are actually using the other. The reason is the price difference. The New York Spot gold price is a price index of gold transactions principally in the United States, while the London Fix price indexes European and international markets. While the prices are often close, the London Fix will show international gold price trends sooner since the majority of gold transactions occur outside the United States. In other words, if there is an upward spike in international gold prices, the London Fix will show it first, followed by the New York Spot Gold price. A U.S. buyer could set their gold purchasing price at the New York Spot Gold price knowing they will get a little extra by selling it at the London Fix. The best advice for a seller is to watch the London Fix and sell to a buyer who sets their price at the London Fix when the index is high. That way, the seller knows he/she is getting the best international market price up front when the market is right. Knowing weights and measures is crucial. When buyers advertise their purchase rates they often try to impress customers with the per ounce price for refined 99.99 percent gold. Currently the London PM fix for a pure troy ounce of gold is $1,319.25, an increase of $94.75 since January 1. While this amount may seem like a lot, no common jewelry manufactured today is 99.99 percent gold, nor is it anywhere near a troy ounce. Most gold buyers will use the metric system to weigh gold jewelry. A typical gold wedding band for men will weigh between 3-6 metric grams, for women 2-4 grams, depending on the gold alloy. There are 31.1 grams in a troy ounce, the international standard measure for gold transactions. So, a 3.1 gram wedding band would be worth $131.92 on the international market today, but only if it were made of 99.99 percent gold, which it is not. Some gold buyers will use the English system of pennyweights and grains. One troy ounce is 20 pennyweights and a pennyweight consists of 24 grains. The best advice is to accurately measure gold jewelry before presenting it for purchase. That way sellers can have independent verification of the weight of their jewelry before the buyer puts it on their scales. Knowing Karats is crucial. Everyone knows at some level that a 10 karat gold wedding ring is not 99.99 percent gold. The amount of gold in the metal used to make jewelry, called an alloy, is measured in 1/24th parts. So, ten karat gold alloy is 10/24th parts gold, or 41.67 percent. 14 karat gold alloy is 14/24th parts gold, or 58.33 percent. It is called an alloy because there are other periodic elements in gold jewelry. For reputable manufacturers, common yellow gold jewelry will consist of gold, copper, zinc and silver. Each of these periodic elements lends particular characteristics to the alloy, which jewelry manufacturers have determined to be optimal for daily wear, durability and looks. White gold jewelry will include enough nickel to turn the alloy white, for instance. Owners of ten karat gold jewelry should realize that less than half of their jewelry's metal alloy consists of actual gold, yet ten karat is commonly marketed, many believe falsely, as "gold." Calculating and comparing the best price. Armed with the international market index price and knowing the weight and percentage of gold in their jewelry, sellers can now hunt for the best purchase price from buyers. The best advice is to create an index for their jewelry that the seller can quickly compare prices to. A typical scenario goes like this. The optimal value of a 14 karat gold necklace that weights 8.4 grams can be calculated on the current London PM Fix, which today is $1,319.25 per troy ounce. There are 31.1 grams in a troy ounce which works out to be $42.42 per gram. A necklace weighing 8.4 grams will thus be worth $356.32 if it were made of 99.99 percent gold. Since the necklace is 14 karat, or 58.3 percent gold, it is optimally worth $207.74, which is 58.3 percent of $356.32. Sellers will never get the optimal 100 percent value for their gold jewelry, because buyers themselves only get, at most, between 95 to 98 percent from their refiners and also pass other costs to the seller, like overhead. This optimal number is only an index to compare prices to. Shop local for the best price. The last of the five secrets to selling gold jewelry is one of the most important. Internet buyers of gold have some of the worst purchase price rates, often ranging in the area of 50 percent. In other words, the 14 karat necklace which was calculated above to be optimally worth $207.74 will be purchased by most Internet cash-for-gold shops for around $104. The best deals can be found among local buyers and jewelry stores. Shopping locally also has the advantage of being able to quickly compare prices and haggle. Sellers can expect to get anywhere from 70-80 percent of the optimal value of their gold jewelry, sometimes more depending on the buyers' circumstances and interest. The best advice is to shoot for 90 percent or more and come down by haggling. Buyers will still get profit at even 90 percent, but maybe not enough to their liking. The perceived value of gold jewelry is often much different from its actual market value. Every seller of gold jewelry knows that people will often attribute value, sentimental or otherwise, to gold jewelry which will often be very different from its real market value. Buyers of used gold jewelry will use this same perception to buy jewelry from people who believe the jewelry to be useless, or have no value. But sellers who are armed with these five secrets to selling their gold jewelry will be better prepared to get the best price in this upturned gold market. By Steve Killings | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Will <b>Gold Price</b> Continue to Consolidate? :: The Market Oracle <b>...</b> Posted: 05 Jul 2014 06:37 AM PDT By: Chris_Vermeulen
Gold prices have been in a giant basing or consolidation pattern for more than one year. As can clearly be seen below, gold futures prices have traded in a range between roughly 1,175 and 1,430 since June of 2013. The past few weeks we have heard more about gold prices as we have seen a five week rally since late May. I would also draw your attention to the fact that gold futures also made a slightly higher low which is typically a bullish signal. At this point in time, it appears quite likely that a possible test of the upper end of the channel is possible in the next few weeks / months. If price can push above 1,430 on the spot gold futures price a breakout could transpire that could see $150 or more added to the spot gold price. Clearly there are a variety of ways that a trader could consider higher prices in gold futures. However, a basic option strategy can pay handsome rewards that will profit from a continued consolidation. The trade strategy is profitable as long as price stays within a range for a specified period of time. Ultimately this type of trade strategy involves the use of options and capitalizes on the passage of time. The strategy is called an Iron Condor Strategy, however in order to make this trade worth while we would consider widening out the strikes to increase our profitability while simultaneously increasing our overall risk per spread. Consider the chart of GLD below which has highlighted the price range that would be profitable to the August monthly option expiration on August 15th. As long as price stays in the range shown above, the GLD August Iron Condor Spread would be profitable. Clearly this strategy involves patience and the expectation that gold prices will continue to consolidate. This trade has the profit potential of $37 per spread, or a total potential return based on maximum possible risk of 13.62%. The probability based on today's implied volatility in GLD options for this spread to be profitable at expiration (August 15) is roughly 80%. Our new option service specializes in identifying these types of consolidation setups and helps investors capitalize on consolidating chart patterns, volatility collapse, and profiting from the passage of time. And if you Advanced options trades are not your thing, we also provide Simple options where we buy either a call or put option based on the SP500 and VIX. The nice thing about buying calls and puts is that you can trade with an account as little as $2,500. If You Want Daily Options Trades, Join Technical Traders Options Alerts: www.TheTechnicalTraders.com/options Chris Vermeulen Join my email list FREE and get my next article which I will show you about a major opportunity in bonds and a rate spike – www.GoldAndOilGuy.com Chris Vermeulen is Founder of the popular trading site TheGoldAndOilGuy.com. There he shares his highly successful, low-risk trading method. For 7 years Chris has been a leader in teaching others to skillfully trade in gold, oil, and silver in both bull and bear markets. Subscribers to his service depend on Chris' uniquely consistent investment opportunities that carry exceptionally low risk and high return. This article is intended solely for information purposes. The opinions are those of the author only. Please conduct further research and consult your financial advisor before making any investment/trading decision. No responsibility can be accepted for losses that may result as a consequence of trading on the basis of this analysis. © 2005-2014 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| If Appetite for Gold is Low, Why are <b>Gold Prices</b> so Resilient? | Gold <b>...</b> Posted: 07 Jul 2014 11:27 PM PDT The year 2013 was not kind to gold bullion; in fact, it was terrible. After a spectacular 12-year bull run, gold bullion prices locked in their biggest annual slide since 1981, retracing 30% and closing out the year at $1,204.80 an ounce. Between 2002 and 2012, gold prices soared around 400% as worried investors sought safe haven assets. Gold prices were pushed higher in large part by a weak U.S. economy, artificially low interest rates, the Federal Reserve's overly generous $85.0-billion-per-month quantitative easing measures, and concerns over the global economy. But then came 2013. Many speculate gold bullion prices melted in 2013 amidst signs of an improving economy. As a result, investors were busy trying to figure out when the Federal Reserve was going to cut its generous $85.0-billion-per-month bond purchases and raise interest rates. A strong economy means investors have less reason to seek safe haven opportunities like gold bullion. Instead, it makes more sense to park your money in the stock market. Maybe Wall Street was a little too optimistic about the U.S. economy and a little too quick to dismiss gold bullion as a smart investing strategy. The year 2013 wasn't that great when it came to the U.S. economy. Every successive quarter in 2013 saw more and more companies on the S&P 500 revising their earnings guidance lower. During the first quarter of 2013, 78% of S&P 500 companies issued negative EPS guidance; 81% did in the second quarter; a record 83% did in the third quarter; and 88% did in the fourth quarter. And 2014 started out pretty much the same way; during the first quarter of 2014, 83% of S&P 500 companies revised their earnings guidance lower. The S&P 500 and Dow Jones Industrial Average are trading in record territory, but it's not because the companies that make up the indices are reporting sustainable results Instead of relying on traditional, organic growth, companies are masking their weak quarterly results with cost-cutting measures and near-record stock buyback plans. The U.S. unemployment rate has improved to 6.1%, but the underemployment rate is still inexplicably high: above 12%. On top of that, more and more Americans are in debt: the average credit card debt is $15,191, the average mortgage debt is $154,365, and the average student loan debt is more than $33,000.1 Even the U.S. housing market is on shaky ground. While U.S. housing prices are up 25% since the beginning of 2012, they still need to climb another 20% to reach their pre-recession highs. And solid new and existing home sales figures are being propped up by well-heeled investors; not first-time home buyers. The point is that the U.S. and global economy are not performing as well as first believed; in fact, the Federal Reserve has said one of its biggest concerns is the so-called recovery in U.S. housing. The Federal Reserve also hinted it has no intention of raising interest rates until the U.S. economy gets on stable ground. Gold bullion prices are also being supported by ongoing tensions in Ukraine and the Middle East. Against this backdrop, gold prices have rebounded. Investors seeking a safe haven against economic and political uncertainty have sent gold prices up more than 10% since the beginning of January. Investors aren't the only ones that have woken up and realized that the U.S. and global economies are being supported by weak fundamentals. With gold prices on the rise, the world's biggest bullion exchange-traded fund is loosening its purse strings. SPDR Gold Shares (NYSE/GLD) recently increased its gold bullion assets by 1.4% over a two-day period to 796.39 metric tons, the biggest two-day gain since November 2011. That's a sharp contrast to 2013, when SPDR sold 550 tons of gold.2 Even though analysts predicted gold prices would continue to move lower this year, gold bullion prices remain, some would say, surprisingly resilient. Typically, gold prices tumble on reports of an improving economy, QE tapering, potential rate hikes, and stocks at record highs. These factors might explain why investor sentiment for gold hit a four-and-a-half-year low in June, but it certainly doesn't explain why gold prices remain robust and may be near a bottom.3 In the grand scheme of things, the 30% correction in gold bullion prices in 2013 isn't entirely abnormal. After all, nothing on Wall Street can go up in a straight trajectory forever—something investors should consider as they watch the S&P 500 and Dow Jones march into uncharted territory with reckless abandon. The ongoing popularity of gold as a safe haven investment isn't all that odd when you consider the state of the U.S. and global economies and geopolitical tensions. And if investors truly believe the best time to buy is "when there's blood on the street," now is clearly a great time. Sources: 1. "The Employment Situation — June 2014," U.S. Bureau of Labor Statistics web site, July 3, 2014; www.bls.gov/news.release/empsit.nr0.htm. 2. Roy, D., "Gold Assets in Biggest ETF Climb at Fastest Pace Since 2011," Bloomberg web site, July 2, 2014; www.bloomberg.com/news/2014-07-01/gold-assets-in-biggest-etf-posts-largest-two-day-gain-since-2011.html. 3. Ash, A., "Gold Investing Sentiment Hits 4.5-Year Low," BullionVault.com, July 1, 2014; http://goldnews.bullionvault.com/gold-investing-070120141. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Today's <b>Gold Prices</b> And Gold Investing News - Money Morning Posted: 18 Jun 2014 12:00 AM PDT  Gold stocks are poised for an upswing. Just recently, the European Central Bank (ECB) announced a new policy to promote lending and, ultimately, inflation in the Eurozone. The move sent investors flocking to precious metals like gold and silver. And a recent election in April saw the seating of a new government in India. On account of the platforms of these new leaders, the Indian press has indicated to expect a considerable decrease in import duties. With the upward pressure on gold prices, here are three gold stocks that can benefit from a potential price spike... The current gold price as of July 1 represents a three-month high amid a weaker dollar and ongoing geopolitical tensions. Here's everything you need to know on if this rise can continue, and how to profit from gold in 2014... Gold price per ounce was on track for a fourth straight weekly gain today (Friday) - our up-to-date gold price chart reflects that the yellow metal is floating around its highest price since mid-April, achieved earlier this week... Today, gold for August delivery was up $0.50 at $1,317.50 per ounce on the Comex division of the New York Mercantile Exchange. Spot gold price per ounce was nearly flat, down $0.10 at $1,317.25. The London a.m. gold fix is up at $1,315.25 compared to the previous p.m. fixing of $1,311.75. Here's the top market news affecting gold prices right now… Gold counterfeiting is nothing new. But rest assured there are a number of methods you can use to mitigate the risks of ending up with counterfeit gold. Some are simple, quick, and inexpensive. Others are more elaborate, detailed, and not so readily accessible. Here are seven tests you can use to tell if your gold is real... Investing in gold is a great way to diversify investment portfolios, hedge against a financial crisis, and even protect against inflation. But with so many different types of gold to buy, finding the right gold investment can be a difficult task for retail investors. Money Morning's Resource Specialist Peter Krauth is a 20-year veteran with special expertise in precious metals. He recently gave our readers a snapshot at the best ways to invest in gold... Gold prices posted a best one-day performance in nine months yesterday (Thursday) with a 3.4% surge, and they are following it up with another gain today. Our up-to-date gold price chart shows June's rally after May's record lows. As of mid-day today, gold for August delivery was up 0.12% to $1,315.70 an ounce on the Comex division of the New York Mercantile Exchange - about a $42 increase on the week. Spot gold per gram price was up to 42.24. Here's the top market news that's affecting gold prices right now... Spot gold in afternoon trading tore through the $1,300 an ounce level to $1,313.40, gaining $34.90, or 2.73%. Here's what's driving the climb. India drives gold prices, and a recent political shift there has brightened gold's outlook in coming months. Here's what's happening in India that will send gold prices zooming... Gold, silver, and the FOMC meeting today: Precious metal prices were fairly steady Wednesday morning awaiting the typically market-moving statement from the Federal Open Market Committee (FOMC) meeting today. The spot gold price was last trading down $0.90 at $1,271.50. July silver prices were last quoted up $0.003 at $19.735 an ounce. Over the last several years, investors have shown a keen interest in shiny assets as the U.S. Federal Reserve liberally printed money and distrust in dollars grew. But that interest has waned as the Fed slows its bond buying. Now an FOMC meeting can be a strong headwind for gold and silver...Gold shifted higher today (Monday) following recent record lows – our up-to-date gold price chart shows that in late May, gold tumbled to its lowest level in four months, to $1,243.00. Gold for August delivery was up 0.1% at $1,253.90 a troy ounce on the Comex division of the New York Mercantile Exchange. London gold was up 0.1% at $1,253.77 an ounce. Here's the top news affecting the yellow metal right now… Gold mutual funds are gaining attention as a safe-haven investment to hedge against the market volatility 2014 has brought so far. These types of investments are managed by professionals who analyze and monitor the movement of gold and invest accordingly in bullions and equities. Here we examine one method for how to invest in gold, using gold mutual funds. Plus we've highlighted a few to get you started today… Analysts look to the gold price history as a tool to make predictions about the yellow metal's direction. A good place to start when examining the gold price history is the 1970s. Up until the early '70s, gold prices hardly fluctuated by more than a dollar or two. But U.S. President Richard Nixon, who was in office from 1969-1974, decoupled the dollar from gold in 1971 due to various economic pressures. And this had a major effect on where gold went after that… Last week, the gold spot price tumbled to its lowest level in four months, to $1,243.00. Tuesday, the gold spot price hit another four-month low early on, but ended the day hovering around last week's low levels, at $1,245.80. August Comex gold was up $0.90 at $1,245.00 an ounce. Here's what's weighing on the yellow metal – and what to watch that could affect gold prices this week. A new gold ETF, Merk Gold Trust ETV (NYSE ARCA: OUNZ), was launched on May 16, 2014. It seeks to corner an often-neglected part of the investment market: goldbugs who like to hold onto tangible gold. Here's how this new gold ETF works... Today (Friday), gold price per ounce fell under $1,250 an ounce to a 16-week low. Prior to this five-day losing streak, gold price per ounce has been stuck in a tight trading range for weeks, struggling to consistently trade above the key $1,300 an ounce level. Gold futures for August delivery fell by 0.8% to $1,246.50 an ounce this morning on the Comex in New York. And earlier, the price touched on $1,244.50, the lowest for a most-active contract since Feb. 3, according to Bloomberg. Here's what's driving gold price per ounce, and how to play the yellow metal in 2014… |
Until recently, the world has forgotten about gold and gold futures prices it would seem. A few years ago, all we heard about was gold and silver futures making new highs on the back of the Federal Reserve's constant money printing schemes. However, after a dramatic selloff the world of precious metals it became very quiet.
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5 Comment for "It Appears Silver and Gold Prices Will Correct this Week"
Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades.
Gold futures are standardized, exchange-traded contracts in which the contract buyer agrees to take delivery, from the seller, a specific quantity of gold at predetermined price on a future delivery date.
gold futures
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