Gold and Oil News
Gold and Oil News - October 19, 2012 22:06
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 […]
Crude Oil Gains on Supply Uncertainty
Crude oil futures gained on Tuesday despite stronger US dollar as investors were concerned over global oil supplies on threat of Syrian conflict may be spreading to other mid eastern countries. Moreover, the move of China for tackling slower growth in their economy also boosted the investors’ sentiment. On Tuesday, the People’s Bank of China […]
The Word of the Day is $1765
One look at an intraday chart of Gold and you can see where the line in the sand for the day was drawn. The 15 minute chart of gold shows it very clearly, especially if you look at it with the volume up at the same time. Anyone vaguely acquainted with Auction Market Theory can […]
Gold Declines on Global Economic Concerns
Gold futures fell on Tuesday due to rising concerns over global economic scenario. While stronger dollar also kept commodities under pressure, investors were also more focused on corporate earnings. Gold futures contract for December delivery fell 0.6 percent or $10.70 to settle at $1,765 per ounce on the Comex division of the New York Mercantile […]