Gold and Oil News
Gold and Oil News - June 23, 2014 20:06
Gold Price – Bulls Have The Technical Advantage
The price of Gold, in todays U.S. session, is marginally higher (Monday). The technicals show a huge spike in prices from the end of last week, (the largest one day rise this year) and on the back of that some profit taking has featured to begin the trading week. The silver and gold bulls will […]
Crude Oil Prices Make Their Move Higher On Iraq Concerns
Two days of solid rises in Oil prices at the end of last week, pushed Crude to new highs for the year, with the scenario in Iraq continuing to get worse by the minute, amid worries over disruption to oil supplies. Investors are homed in on the developments in Iraq, where militants are apparently participating […]
Gold Ramps Home Its Single Biggest Rise This Year
And as if by magic, the price of Gold is on course for the largest daily increase this year, being ramped up by investors (who were caught with their trousers down) by the prognosis for sustained low rates of interest from the Federal Reserve. Gold futures contracts for August delivery, the front month contract, increased […]
Gold Continues to Build Base Above $1300
Despite the Federal Reserve’s lame attempts to continue controlling the markets through its now shattered communications strategy the price of Gold continues to limp towards the start of COMEX physical deliveries in October consolidating between $1300 and $1400 per ounce. This morning’s durable goods miss was significant and after some HFT churn the gold market […]
Gold Holds Onto Gains as Inflation Expectations Rise
The massive move in Gold prices yesterday was really the sideshow to the main event of a reversal in U.S. Treasury prices. The benchmark 10 year yield moved quickly down to 2.7% and traded lower than that for a while after stubbornly refusing to dip below 2.75% for most of the summer. This is what […]
Fed Doesn’t Taper QE, Gold Explodes
The Fed had a choice to make and it was an unpleasant one regardless of which side of the economic fence you’re sitting. It could either taper bond purchases to defend the dollar versus Gold and the rising currencies of the BRICS or it could continue on as it has been, trashing the dollar and […]
Gold Fights for $1300 Ahead of Fed Meeting
The all-important FOMC meeting should be concluded and if it went to form the members spent all of 20 minutes deciding the fate of the world and 2 days figuring out how to communicate that to us mere mortals. When you think of it like that the idiocy of central planning is pretty stark.  But, […]
Gold Weakens on Technical Selling Ahead of Fed Decision
At this point it looks like the gold market has priced in a far greater amount of tapering of bond purchases than is actually being discussed in polite circles — $10 to $15 billion per month. The weakness in gold this week stems from both political incompetence in Washington prevailing over Syria and strategically-timed selling […]
Syria Bombing Fears Recede Along with Gold Prices
Now that Vladimir Putin has played most of his hand at the G-20 meeting, getting the Assad government to agree to placing its chemical weapons stockpile under international control, the Obama administration has to back down from unilaterally bombing Syria in the name of Qatari and Saudi gas pipeline interests. This has gold seeing profit-taking […]
Jobs Number Sends Gold Back Near $1400
The market’s knee-jerk reaction to this morning’s Non-Farm Payroll miss — 169,000 jobs vs. expectations of ~180,000 — sent everyone intorisk-offmode as Gold spiked more than $20 on the news to trade around the $1390 level. Silver rose $0.60 and looks like it will challenge the elusive $24 area as we approach the end of […]
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