Gold and Oil News - May 24, 2013 22:03
Gold Ends Week Up, Despite Turmoil
Testimony from FOMC Chairman Ben Bernanke on Tuesday sparked an lot of volatility across a number of markets, most notably the Nikkei which dropped 7.3% the following evening, causing equity markets the world over to stall in their pursuit of Dot.com-like P/E’s. Gold began the week following through with Friday’s weakness as margin-related selling forced [...]
Other Recent Articles
- Gold Rebounds now that Bernanke is Done Talking
It is one of the unwritten rules of the market, “Gold cannot make the FOMC Chairman look bad.” Yesterday’s Humphrey-Hawkins testimony by FOMC Chairman Ben Bernanke was the catalyst for the hit on gold and silver during the COMEX hours. And it happens every time the chairman is due to speak in public. The efficacy [...]
- Bonds Finally Begin Calling Bernanke’s Bluff
Look, for months the Fed has been trying to have its cake and eat it too. Every other day it seems we are treated to another pronouncement from a U.S. central banker which is intended to keep the market guessing about its intentions to end the bond-buying program known as quantitative easing. All of this [...]
- Gold Continues to Fail at $1400, No Momentum Allowed
On a day where FOMC chairman Ben Bernanke was testifying there was little hope that there would be any upside breakout to the price of gold. We had two other Fed governors come out to talk up and down the efficacy of quantitative easing and a continuation of mad hedge fund shorting at lower price [...]
- Gold Re-tests Lows on Asian Margin Selling, Rebounds
Last night’s scare in the precious metals market could be summed up simply as programmed margin selling after Friday’s bushwhacking which occurred after the COMEX close. This was a replay of the events of April 12th and 15th, where the selling which happened after Asian markets were closed for the week had to carry over [...]
- The Beat Goes On — S&P Sets New Record
All of the money being printed by the major central banks simply has nowhere else to go. Today the S&P 500 rallied again late in the session as managed money went bargain hunting with newly minted dollars, yen and euros. The benchmark equity index closed at 1650.34 (+1.02%) while the Dow Jones Industrial Average rose [...]
LiveWire Economics Blog, Shares and Markets - Apr 23, 2013 21:42 - 0 Comments
Commodity and Equity Bifurcation Continues Towards Plaid
The markets have gone plaid. We had horrible Chinese and German flash PMI data come out this morning which kept commodity prices under duress all day. Copper continues its trek towards $3.00 per lb. Silver broke back below $23 after challenging $24 yesterday. The grain complex was whacked across the board in late session trading [...]
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Gold and Oil News - May 24, 2013 22:03 - 0 Comments
Gold Ends Week Up, Despite Turmoil
Testimony from FOMC Chairman Ben Bernanke on Tuesday sparked an lot of volatility across a number of markets, most notably the Nikkei which dropped 7.3% the following evening, causing equity markets the world over to stall in their pursuit of Dot.com-like P/E’s. Gold began the week following through with Friday’s weakness as margin-related selling forced [...]
More In Gold and Oil News
Look, for months the Fed has been trying to have its cake and eat it too. Every other day it seems we are treated to another pronouncement from a U.S. central banker which is intended to keep the market guessing about its intentions to end the bond-buying program known as quantitative easing. All of this [...]
Shares and Markets - May 14, 2013 23:56 - 0 Comments
The Beat Goes On — S&P Sets New Record
All of the money being printed by the major central banks simply has nowhere else to go. Today the S&P 500 rallied again late in the session as managed money went bargain hunting with newly minted dollars, yen and euros. The benchmark equity index closed at 1650.34 (+1.02%) while the Dow Jones Industrial Average rose [...]