Gold and Oil News
Gold and Oil News - April 25, 2013 19:53
Gold Routs the Shorts, Next Stop $1500
I said yesterday that futures expiration was holding Silver back from breaking above $24. That turned out to be the exact right call. Gold was held in check below $1450 as well, $1435 in fact — the 200 week MA. That level has fallen and the market is currently trading in run-away fashion heading towards […]
Gold Settles Back, Re-Tests $1400
Since last week’s crash I’ve been saying that if the gold market was going to turn around it would be a tough slog higher; in a three steps forward two steps back pattern. This behavior has been in evidence since yesterday morning where Gold hit a high above $1435 and since then has been settling […]
Gold Continues to Rebound Above $1400
It was no surprise to me watching it last night, but Gold began moving higher with the re-opening of the markets and did not let up until the COMEX pre-market opened at 7:30 this morning, having added nearly $30 to the price and challenging the 200 day moving average. Gold promptly ran into some selling […]
Gold Tests $1400 Holds During New York Trading
Today would be characterized as the first strong showing of Gold in the U.S. markets this week. The nightly rise in prices during Asian trading was not sold relentlessly to pursue as low an afternoon fix as possible. Gold rallied right up to $1400 per ounce at which point it ran out of steam near […]
Gold Tests $1400 Fails, Falls in Asian Trading
Just moments ago Gold was bombed on the Hong Kong open back below $1340 per ounce, before recovering slightly. Last night the market re-tested $1400 just after the U.S. equity market opened but that test failed and gold was under pressure all day through New York trading and through early Sydney trading. Once Hong Kong […]
Commodity Sell Off Continues, Brent Breaks $100
The big deflationary wave hitting the markets right now is gaining steam. The S&P 500 finally put in a proper down day (~1%) after months of liquidity-fueled levitation. The oil markets took a little while to catch up with the grain complex, which began selling off in late March, but with Brent finally putting in […]
Gold Stabilizes After Brutal Rout
I’ve been watching gold for so long that literally nothing fazes me anymore. I am sure that yesterday’s drop turned the stomachs of many a gold investor. And while I am not ashamed to admit that there were a few moment of anger watching things unfold, I can also say that my reaction was nothing […]
Gold Recovers After Fed Induced Drive-By
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
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
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, […]
Most Popular Content
- Copper Finds Its Footing as Market Sentiment Improves
- S&P 500 Grinds Higher as Rate Cut Hopes Simmer
- Bitcoin Holds Near $120K as 401(k) Buzz Meets Inflation Jitters
- Pound Climbs on BoE Cut and Dovish Signals
- Gold Soars on Tariff Shock as Copper Holds Steady
- Markets Wobble After Highs as Fed Holds Steady and Earnings Send Mixed Signals
- Copper Prices Drift in the Wake of a Surprise Tariff Shock
- Gold Prices Retreat from Highs Amid Easing Geopolitical Tensions