Gold and Oil News
Gold and Oil News - October 24, 2012 22:11
The Fed Returns to Saying Nothing and Markets Drift Lower
The FOMC statement released this afternoon went back to reiterating that nothing has changed, they will continue to keep things rolling along they way they are: ZIRP until at least mid-2015, because there are still some people in the U.S. that have some savings and that just will not do. Operation Twist will continue until […]
Gold Threatens the $1700 Level as Equities Sag
The fear trade seems to be returning in full force, but this time it is fear of a true global recession that is driving capital back into the very fickle arms of the U.S. Dollar and, to a lesser extent, U.S. Treasuries. After as successful defence of 79 the USDX has moved back to 80 […]
Gold Firms After Weak Asian Open
Friday’s waterfall European close in gold was nothing more than options expiration take-painting. And, while gold had a perfect setup this month to assault $1800 and push through to $1850, that setup looks to have failed spectacularly. After a weak open in Sydney last night Gold strengthened coming into the COMEX session and dollar by […]
Gold Closes Down with General Markets on Option Expiration Reset
I knew there would be days like this ahead at some point, though, to be honest, I didn’t expect them now. A full-fledged market retreat happening before the election seemed remote but as we approach the final days of the campaign season and the growing likelihood of a Romney victory – frankly something else I […]
Gold Breaks Through $1750, Euro Stalls Above $1.31
It is becoming more obvious by the day that the 79 level on the USDX is being defended by the major central banks ahead of the U.S. Presidential election in three weeks. Four times today the USDX approached (or breached) the 79 level on the downside and four times it was lifted back up and […]
Gold Rebounds on Euro Gains
Yesterday’s flush of Gold down to $1730 served to be a wake-up call to the bulls who had been lying in wait for a further correction. Their patience was rewarded. With the Euro, however, moving back over the $1.30 level today that made it difficult for the bears to hold the price down below $1740.For […]
Sell Off in Gold Intensifies Drops Below $1750
Gold is caught between the QEIII announcement and the actual start of it. Regardless of what the Federal Reserve said they would do, since September 13th’s announced open-ended, without conditionality, QE to infinity the Fed has done nothing except contract the monetary base.  This is in direct conflict with what they said they would do, […]
Gold Ends the Week off $25
A week of mild long liquidation took place in Gold this week as the markets were in risk-off mode for much of it. After a $250 run up, sincere capping efforts on the part of the central banks and some rotation back into U.S. treasuries saw Gold finally put in what can be considered a […]