Gold Recovers After Fed Induced Drive-By - April 12, 2013 0:57

Make no mistake about it, yesterday’s snafu with the March FOMC minutes was no honest mistake.  The release was perfectly timed to give maximum benefit to the short side of the gold market giving their quislings yet another opportunity to cover at lower prices.  Today we saw steady, constructive buying until the COMEX close where […]

FOMC Minutes Release Gives Cover to Smash Gold - April 10, 2013 22:05

So, the FOMC accidentally released the March minutes early yesterday but did not bother to inform the markets until after 9:00 am, timed perfectly to push Gold down on the supposedly hawkish sentiments of a number of members who have no power to set policy.  Gold was sold with extreme prejudice back to $1558 per […]

Gold Gives Up Ground in Quiet Monday Trading - April 8, 2013 21:45

Today’s action in the gold pits was as predictable as night following day. There was no major headline or economic data point to react to which meant an opportunity to create more stability after Friday’s substantial move back over $1580 per ounce.  Coming into the European open gold had put on a couple of dollars, […]

The Yen Approaches 100, The Euro Stabilizes - April 8, 2013 21:33

We have not seen the end of the Yen debasement by any stretch of one’s imagination.  The Japanese monetary dumping ground has been in free fall since markets opened Sunday night and the USDJPY pair is now comfortably over 99 and headed to 100 easily this week.  The U.S. bond market has given back more […]

Gold Rockets Up on Risk Off Trade Returning - April 6, 2013 0:06

Even the late afternoon ramp in equities could not dampen the bullish atmosphere in the precious metals futures pits today.  After a horrific Non-Farm Payroll print that even CNBC couldn’t spin in a positive light, Gold shot up past $1570 and then subsequently twice pushed through obvious capping action at $1566 and $1572 before ending […]

U.S. Employment Data Sends Markets Reeling - April 5, 2013 19:20

The only surprise I can register over today’s Non-Farm Payroll report from the U.S. is that it was allowed to be released in its current form at all.  The comedy value of much of U.S. economic data has reached a point where it rivals Monty Python re-runs in terms of hilarity due to shock and […]

Bank of Japan Goes to Infinity and Beyond - April 5, 2013 0:57

The new head of the Bank of Japan made his mark on the markets with his first pronouncement last night.  Skipping the particulars, which if you are truly interested you can read them here, the BoJ is committed to doubling the size of its balance sheet over the next 20 months adding Â¥7 trillion per […]

Gold Continues to be Pressured by Commodity Weakness - April 4, 2013 1:12

The cover story at this point for the latest operation in the Gold market is commodity weakness today on weak employment data.  Since silver is now trading wholly along with the commodity complex when it is convenient then gold is dragged along with it.  In other words folks, there is no rhyme or reason to […]

Gold and Silver Shellacked - April 3, 2013 1:49

At this point I’ve got to say that it is becoming nearly comical the lengths to which our central planners will go to keep the world from panicking over their own profligacy.  The attack on Gold and Silver today was one of those near comical moments.  At this point what do they think they are […]