Yuan Hits All-Time High Vs. The Dollar - October 11, 2012 23:20

Slowly but surely the Federal Reserve and the U.S. Treasury Department are getting what they want, a weaker U.S. Dollar (AMEX:UUP).  If you were to watch the trade-weighted USDX you might not see it as it is being managed on practically a tick for tick basis these days.  Headlines are timed to ensure that the […]

The Word of the Day is $1765 - October 10, 2012 22:16

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 […]

Alcoa Kicks off Earnings Season While Tech Slumps - October 9, 2012 23:29

Alcoa (NYSE:AA) is the bellwether of bellwethers as it is the first major U.S. corporation to report.  A good report from Alcoa is usually a pre-requisite for a good earnings season.  Excluding one-time charges Alcoa earned $0.03 per share on significantly higher than expected revenues of $5.83 billion.  Fundamentally, commodity prices are going to be […]

Gold Bounces Off of $1769 as Election Looms in the Background - October 9, 2012 0:22

I’m not sure what significance $1769 has but the bulls drew their own line in the sand around $1770 all day today, never once allowing the yellow metal to close on an hourly basis below $1771.15 on the December contract.  It was a risk-off kinda day as equities drifted lower and Silver was whacked below […]

Euro Ends Week over $1.30 in a Show of Strength - October 6, 2012 2:29

I know there are a lot of you out there that truly believe the drama surrounding the Euro is real; that somehow after 60 years of working diligently to bring about fiscal and political unification of Europe through the chains of social democracy it would somehow at the final moment slip through the fingers of […]

NFP Beat Stuffs Gold But Ends Higher on the Week - October 6, 2012 0:19

The final Non-Farm-Payroll report from the U.S. Bureau of Labor Statistics led with a headline drop of 0.3% in the U-3 Unemployment Rate in September, allowing President Obama the opportunity to crow about how many McJobs he created in his 4 year term and that’s why we should give him another 4 years to finish […]

Gold Slogs Through Broad Resistance - October 4, 2012 21:33

So far this week Gold has make three attempts at the $1800 per ounce level.  Two off them happened today and were rebuffed.  The first one happened on the COMEx open and the second one, interestingly, happened on the COMEX close.  I spent a lot of this morning watching a 15-minute chart of the price […]

Oil Prices Crack Below $90, Spread Widens - October 3, 2012 23:12

West Texas Intermediate crude prices fell back below $90 per barrel today as uncertainty over the situation in Spain continues to overhang the post-QEternity markets.  Brent Crude held onto $108 per barrel putting the spread between them at $20, the most this year, which suggests the low WTI prices are more of an American phenomenon […]

Gold Continues to Base Below $1800 - October 2, 2012 22:21

Gold attempted again this morning to mount an assault on the $1800 per ounce area.  While not as dramatic as yesterday’s spike high near $1794, today’s action in the moments before the COMEX open had gold bulls licking their chops until that market opened.  The selling started in the Silver pits at 8:25 EST and […]