Posts Tagged ‘Euro’
Gold and Oil News - June 4, 2013 22:39
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. [...]
Bonds Routed, Stocks Up, All is Normal?
As if there was ever any doubt that the central banks would not flood the world with unlimited amounts of paper as the Bank of Japan and the ECB both reaffirmed their loose monetary policies which sent equities around the world flying higher. It is too bad, of course, that organic growth only accounts for [...]
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 [...]
Yen Weakness Creates Risk-On Gold Raid
The Yen smashed through ¥100 yesterday just in time to push the Euro below $1.30 today, taking Gold, Silver and U.S. Treasuries to the cleaners. Yesterday’s rumor of more Fed jawboning about the end of QE started the rout and today the follow through occurred. It is, at this point, nearly comical to watch this [...]
ECB Cuts Rates, Euro Falls to $1.30
You know that the markets have gone Full Bizarro when the threat of a central bank rate cut sends its currency soaring. But, that is exactly what happened earlier in the week after a spate of economic data convinced the markets that the ECB would have to cut rates. The Euro soared to $1.32 early [...]
Gold Stymied at $1480 as April Ends
Chart painting or legitimate selling pressure, that’s the question I have as April trading finishes in Gold and Silver. Friday’s high of $1485 has yet to be challenged again as the line has been drawn at $1480 per ounce. even this morning’s bounce on the announcement of the ECB planning to cut interest rates was [...]
Crude Oil Spread Drops Under $10 as West Texas Rises above $94
For the past two years the spread between Brent and West Texas Intermediate crude oil grades has been very high, vacillating between $16 and $28 per barrel at times due to huge supply coming into the holding station at Cushing, Oklahoma. A number of factors contributed to this situation, including the rapid rise in oil [...]