Germany Wants Their Gold Back - January 15, 2013 19:33

The significance of this can not be over-stated.  This is a breakdown of trust between Germany and those who have held their sovereign gold reserves for the past 60+ years. Requests like this do not come often nor are they made lightly.  There are serious problems lurking just out of sight in the global financial […]

Euro Holds Gains From Breakout, Oil Firms - January 14, 2013 23:08

The Euro completed an important week of trading last week with a close above the important $1.33 level, which, after the ECB policy meeting and successful Spanish and Italian bond auctions, confirms a significant breakout setting up a continued bull market through at least Q1 of 2013.  You can check out more details here. The […]

E.C.B. Holds Rates, Sends Gold, Commodities Higher - January 11, 2013 3:04

The E.C.B.’s latest policy meeting ended with the central bank not bowing to pressure from choking banks to lower interest rates and held the benchmark lending rate at 0.75% for the time being.  This lifted the cloud that had been hanging over the Euro for the past few weeks while capital in the major U.S. […]

Commodities Firm on Oil Data - January 10, 2013 0:00

The commodity complex was firm again today after the latest U.S. oil inventories were released.  While this data is more important for the price of West Texas Intermediate it still has an effect on marginal demand.  Brent Crude refused to back down below $111 after challenging the recent channel highs above $112 yesterday.  If this […]

Yen Runs Into a Roadblock, Euro Flat - January 8, 2013 23:00

After posting a, intra-day high at 88.40 last week the Japanese Yen has begun this week by correcting slightly.  As I write this the Yen is flirting with the 87 level and looks primed to test the low near 86.8.  Since the announcement of QE IV by the Fed and the election of uber-dove Abe, […]

Gold Ends Week Down on FOMC Minutes, Fund Re-Balancing - January 5, 2013 7:35

The minutes from the December FOMC meeting sent major shock waves reverberating through the capital markets this week.  Not only was the Euro thrashed back to re-test the $1.30 level, Gold was taken to the woodshed and beaten back to $1626 before rebounding sharply intra-day to close the week at $1655.85 per ounce.   In the […]

Gold Pushes Towards $1700, Oil Tags Along - January 2, 2013 23:28

My daughter recently discovered the original Muppet Movie on Netflix and while watching Gold and Oil today all I could think of was the great duet between Kermit and Fozzie at the beginning of the movie…. ‘movin’ right along’ indeed.  Gold popped higher this morning on news that the House had approved — ostensibly with […]

Fiscal Cliff Avoided, Can Kicked, Risk On - January 2, 2013 17:51

Hey sometimes this market commentary thing is really easy.  I hope everyone enjoyed their holidays and we can get back to the very serious business of kicking the financial burden farther down the road until my daughter’s grandchildren are indebted.  As a first post for the New Year I want to get a few things […]

Euro Ends Week Strong, Confirms New Uptrend - December 29, 2012 21:31

The Euro confirmed last week’s breakout with a closing price above the important $1.32 level which improves the probability that this latest move higher is a sustainable one that is capable of taking it back to $1.35 over the next few weeks.  In my mind, looking over a number of crosses, the Euro breakout is […]