Spot Chart | New <b>Gold</b> Price <b>Chart</b>: Fed Minutes and Middle East Solidify <b>Gold</b> <b>...</b> | News2Gold |
- New <b>Gold</b> Price <b>Chart</b>: Fed Minutes and Middle East Solidify <b>Gold</b> <b>...</b>
- <b>Gold</b> Scents: <b>CHART</b> OF THE DAY
- <b>Gold</b> Market Update | Clive Maund | Safehaven.com
- <b>CHARTS</b>: <b>Gold</b> price entering make or break territory | MINING.com
| New <b>Gold</b> Price <b>Chart</b>: Fed Minutes and Middle East Solidify <b>Gold</b> <b>...</b> Posted: 09 Jul 2014 11:54 AM PDT Gold prices today (Wednesday) finished back over $1,320 an ounce after the release of the latest U.S. Federal Reserve minutes, and amidst turmoil in the Middle East. Our new gold price chart reflects the current June-July rally.  Gold prices have rallied with a 9.5% gain this year through the close of yesterday's session and are on track to tack on more gains today. U.S. gold futures for August delivery reached $1,324.50 an ounce as of midday for an $8 (+0.61%) rise, putting gold futures on track for the biggest gain in nearly three weeks. Gold spot price per ounce was up $5.30 (+0.4%) at $1,323.90 an ounce. On Tuesday, SPDR Gold Trust (NYSE Arca: GLD) - the world's largest gold exchange-traded fund (ETF) - reported its second consecutive session of inflows, according to Reuters. It's the first time since mid-April GLD's holdings reached above 800 tonnes. Here's the top market news that's affecting gold prices right now... Top Stories Affecting Gold Prices Right NowThe Federal Open Market Committee (FOMC) meeting minutes were released this afternoon at 2 p.m. EDT. They followed the FOMC meeting last month in which Fed Chairwoman Janet Yellen was dovish on interest rate talks. The market had a muted reaction to the minutes today because they were not unexpected. According to Kitco,August gold was $8.40 higher to $1,324.90 an ounce as of 2:16 p.m. EDT, compared to $1,324.70 two minutes ahead of the minutes' release. Per Yellen's previous comments, the Fed will likely end its monthly bond-buying program in October. There were no new insights on when the Fed might raise interest rates. "It was in line with expectations. There were no surprises, really," Citi Institutional Client Group's futures specialist Sterling Smith said to Kitco. Interest rates are important for goldbugs because higher interest rates are bad news for gold prices. Gold prices will typically weaken when rates go up as investors seek out higher-yielding assets. Geopolitical tension in the Middle East is the other major factor contributing to gold's recent gains. Here's how it's shaping the yellow metal right now... Geopolitical tension in the Middle East and in Ukraine is pushing gold prices higher. The safe-haven investment tends to enjoy gains when fear is in the air. Israel has launched a military offensive in the Gaza strip this week. It declared its purpose is to bring Palestinian rocket attacks to an end. The escalation in violence between Israel and Gaza militants has become the worst since November 2012. "Some investors are buying gold as the Middle East region is very tense," R.J. O'Brien & Associates senior commodity broker Phil Streible said in a telephone interview with Bloomberg. "We have been seeing an increase in the safe-haven premium since the violence in Ukraine started." With gold prices solidified above $1,320 an ounce, is it the right time to invest in gold? Time to Buy Gold?Money Morning Chief Investment Strategist Keith Fitz-Gerald said in May that the case for owning gold has never been stronger. Here's why now is the time to make sure the yellow metal plays a part in your portfolio... "Many investors are asking themselves if now is the time to buy gold. I think that's the wrong question," Fitz-Gerald said. "What they should be asking themselves is if they can afford not to buy gold." Fitz-Gerald highlighted the fact that central banks are trillions of dollars in the hole, so they are buying gold as a means of supporting their currencies. According to the World Gold Council (WGC), in 2013 net purchases totaled 369 tonnes. That represents 12 consecutive quarters in which the central bankers have reported net inflows. And recent gold news corroborates Fitz-Gerald's bottom line... You see, Fitz-Gerald also stressed that consumers in India and China - who jointly represent three out of every five people alive today - generally believe that gold is going to increase in price over time. Yet few actually own it, according to the WGC and U.S. Global Investors. "As the economic development in these two countries continues at a rapid pace, overall demand will increase, even if it falls off in developed countries like the United States and in the European Union," Fitz-Gerald said. "Already the statistics are proving this point. Consumer demand in China rose 32% in 2013 to a record 1,066 tonnes, while in India, demand rose 13% to 975 tonnes." Indeed, last month we reported that demand out of India and China are expected to send gold prices soaring in the second half of 2014. Barron's agrees. "We expect the weak physical demand seen in Asia of late to pick up again in the second half of the year, which should result in a rising gold price, especially since the headwind from ETF investors is likely to further abate," analysts Barbara Lambrecht and Michaela Kuhl said to Barron's in June. "We are confident that gold demand in India will pick up noticeably as compared with the first half year and last year once the import restrictions have been eased. China is also likely to demand more gold again in the coming months." As Asian demand picks up, look for our gold price chart to continue its upward swing in this latter half of 2014. Money Morning recently delivered for our Members a two-part "cheat sheet" that outlines the right amount of gold for your portfolio. You can get that gold investing guide - for free - here. Related Articles:  |
| <b>Gold</b> Scents: <b>CHART</b> OF THE DAY Posted: 11 Jul 2014 04:28 AM PDT  |
| <b>Gold</b> Market Update | Clive Maund | Safehaven.com Posted: 13 Jul 2014 06:49 PM PDT By: Clive Maund | Sun, Jul 13, 2014 Originally published July 13th, 2014. Whilst acknowledging that "this time it could be different" we have no choice but to call gold and silver lower on the basis of their latest extraordinary COT charts, which reveal that the normally wrong Large specs are already "betting the farm" on this rally. Let's start by looking at the latest 6-month chart for gold. On this chart we can see that following its big up day in mid-June gold has only managed to creep about $20 higher. The 1-year chart will enable us to make a direct comparison with the latest COT chart placed right below it, which goes back about a year... By comparing these 2 charts we can see how the peak and troughs in the gold price have a strong correspondence with the peaks and troughs in Large Spec long positions. They didn't want to touch gold last December, right before a big rally, but when the rally peaked in March, they were falling over themselves to go long. So what do you think is likely to happen now that they have stampeded in and built their long positions to at least a 1-year record? The picture for silver is even more extreme. On its 30-month chart it looks like gold has broken out from the downtrend shown, but here we should be careful, because it is clear that if they want to snare the biggest number of traders and then fleece them, the thing to do is to "paint the chart" to make it look like gold has broken out. Listen, the crux of our argument is this. If this apparent new uptrend has got legs, then COT positions, both Commercial short and Large Spec long positions should build up steadily as the uptrend proceeds towards an eventual peak when the uptrend is mature - not explode to huge levels right at the get-go. There is an argument that "this time it's different" and that on this occasion the Commercials are wrong, and when they realize that they are, they are going to rush to cover and create a meltup. The chances of this being the case are considered to be low, and you need to be brave, and perhaps stupid to place bets on the basis of it. We should not forget that the Commercials have unlimited ammo to throw at the paper price to make sure that their will prevails. One supposed fundamental reason for a big rally in gold and silver is the spread of anarchy and chaos in the Mid-East, due in particular to the activities of ISIS, but if that's the case why has the oil price just taken a hit? On its 6-month chart below we can see how it broke out upside from a Rising Triangle when the ISIS rampage in Iraq was in the spotlight, but then the breakout aborted and it has since slumped back towards its 200-day moving average, so that it is now well below its price before most anyone had even heard of ISIS. The increasingly bearish COT for oil presaged all this and was highlighted in the last Oil Market update. We cannot therefore expect the prices of gold and silver to draw support from this source, at least not in the foreseeable future. The long-term chart for gold continues to look promising, so one scenario here is that gold now backs off one last time towards its lows, before the expected major new uptrend begins. We will end by making one important point. The general situation across markets now is very similar to the one we were in 2007 - 2008, except that it is much worse. As we know the problems exposed by the crisis and market crash of 2008 were never addressed or corrected, but simply papered over with printed money in a classic exercise in can kicking. Now we are arriving at the point where the can cannot be kicked further down the road. We are on the verge of another severe global bearmarket which could make the one in 2008 look like a "walk in the park". There will be a lot of talk about "wealth destruction" in a year or two, but real wealth won't be destroyed of course, only the intrinsically worthless paper claims that investors have insisted on bidding higher and higher in the face of zero interest rates, such as bonds, debt instruments of all kinds, currencies themselves and derivatives. Real wealth is agricultural land, factories, commodities, and especially gold and silver. To survive financially, and maybe prosper, all you have to do is make sure your capital is invested in real wealth. This is why Big Money investors in gold don't give a toot about its price in Fiat, and couldn't care less about the shenanigans at the Comex. They've got their gold safely stashed away in secure locations, and when all this fiat rubbish and worthless trash like bonds goes up in flames in one of the biggest bonfires in history, which could be a lot closer at hand than many realize, they will be completely insulated from the chaos and mayhem afflicting the masses, and when the dust starts to settle will be able to move in and buy up many assets at pennies on the dollar. So as this time approaches, make sure you allocate whatever capital you have into "real wealth" and take whatever steps you have to, to secure access to essentials in the event of systemic collapse. All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com |
| <b>CHARTS</b>: <b>Gold</b> price entering make or break territory | MINING.com Posted: 25 Jun 2014 03:37 PM PDT The gold price jumped around on Wednesday only to settle in familiar territory. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery in late afternoon trade exchanged hands for $1,319.50 an ounce, down $1.80 from its settlement level in middling volumes. Earlier in the day gold touched a low of $1,305.40, only recovering after a drop in the dollar following a surprisingly large down adjustment in the first quarter US GDP. Last Thursday's nearly $50 an ounce surge in frenzied trading now appears to have been a blip as gold's momentum turns sideways. Ole Hansen, Head of Commodity Strategy at Denmark's Saxo Bank, says for gold to continue to show strength the metal must first clear $1,331: If successful it should be able to make further progress towards trend-line resistance at 1371 USD/oz ahead of the 2014 peak at 1392 USD/oz. However, a move back below 1300 USD/oz would remove the current momentum and most likely result in a renewed period of range-bound trading around 1295 USD/oz. which has been the average price for the past year.
 Technical research and investment blog InvesTRAC's chart of the gold price versus the blue-chip Dow Jones Index, which on Wednesday was again toying with record territory despite the GDP numbers, indicates that gold is set to outperform stocks: The long term downtrend from the top at 1.746 is still intact…the recent weakness held above the 0.725 low and the ratio has now pushed up through the first downtrend which opens the way for an 11 percent rally to the next visible resistance at 0.860. If the ratio can get through this barrier it would suggest that after an almost 60 percent decline it would have the potential to go substantially higher:
 FLASHBACK: Towards the end of May, InvesTRAC produced a chart showing that the uncharacteristically quiet gold market was primed for break-out price move. That bust out if its trading range started out as a big gap down with the gold price hitting $1,244 at the start of June. That was before Yellen and ISIS changed the picture again and a 90 tonne 15-minute trade lit a fire under the metal.
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