Gold and Oil News
Gold and Oil News - September 3, 2013 18:59
War Trade Pushes Gold Back Over $1400
Last week we were assured by U.S. Secretary of State John Kerry that the U.S. would definitely be going to war with Syria over the alleged use of chemical weapons by the Assad Government. That pushed gold above the June high at $1423 briefly before cooler heads — and the doves in the U.K. House […]
Gold Ends Week Up Slightly, Waiting for a Signal
Thanks to yesterday’s ‘Hilsen-Rumor‘ the final pretense that the Federal Reserve was actually going to taper off of its bond-buying program known as Quantitative Easing was dispelled. This had the effect of buoying equity markets last night and into this morning while also putting a stiff bid under both Gold and Silver. Of course, a […]
Bond Markets Gyrate While China is on Holiday
For anyone trying to figure out why Gold cannot rally in the face of spiking bond yields and an appreciating Yen, look no further than your calendar. The Chinese markets are closed for the first three days of this trading week and with that one of the major sources for gold demand. For those that […]
Non-Farm Payroll Report Sends Equities Soaring
Days like today have me hearing echoes of Bob Cole on Hockey Night in Canada running through my head, “Stick Save! And a beauty!”  The S&P 500 was well on its way to putting in a full-blown reversal bar on the weekly chart this week with a close below 1626.40. Considering just yesterday the markets […]
Upheaval in the Yen Pushes Gold over $1400
Last night while the Yen was breaking down I found myself laughing at the stubborn refusal for the futures market to allow gold to print a 14 handle for hours, even though the Yen carry trade was breaking down. Finally this morning the bulls could be held back no longer but only to pop as […]
Lucky Tuesday Has Gold on a YoYo
As Zerohedge likes to point out every week, Tuesday’s are the day of the week where the current equity rally makes its vig. Check out the chart of the Dow with and without the last 20 Tuesdays — all up, mind you — that they posted this afternoon and you can see exactly how this […]
Yen Retreats Below 100, Gold Rises
The relationship between the Yen and Gold prices could not be more clearly delineated than it was during today’s trading. The Yen began strengthening versus the dollar early after 9am and with that took the price up gold up quickly back to $1415 per ounce where it bounced around for the rest of the day. […]
Gold Breaks Through $1400 on Japan Volatility
The key to understanding how the Federal Reserve has been able to keep the price of gold under control for the past six months during all of this QE has been to look at the Japanese Yen. I might be smarter than the average bear but sometimes it takes a village to figure out why […]
Gold Gyrates Below $1400 Still
Today was a special day in that we saw nearly two full cycles of gold attempting to break through $1400. The first happened in Asia last night. The second happened during the COMEX hours in New York this morning. Both times the selling came in strong to push gold back down, first to $1375 and […]
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 […]
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