Crude Oil Spread Drops Under $10 as West Texas Rises above $94 - April 30, 2013 1:21

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 […]

Gold Rises on Euro Strength - April 29, 2013 22:36

The Euro pushed back towards $1.31 today while the U.S. Dollar weakened versus the Japanese Yen.  Yen strength means dollar weakness across the board as we saw all inflation assets move higher.   Gold, up until recent months, had been strongly correlated with the Euro/Dollar cross but that relationship has broken down with the rise of […]

Gold Ends Week Up $54, Silver up $.70 - April 26, 2013 23:10

Gold and Silver both were on their way to their best weeks in more than year when a major sell off occurred just after the European close at 11am EST.  Zerohedge speculated that it could have been margin-related selling with some long liquidation to shore up losses in other markets.  But, seeing as not only […]

Gold Routs the Shorts, Next Stop $1500 - April 25, 2013 19:53

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 - April 23, 2013 21:20

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 - April 22, 2013 21:25

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 - April 18, 2013 22:41

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 - April 18, 2013 2:40

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 - April 18, 2013 1:59

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 […]