Gold Bumps up to $1616 on Cyprus and Momentum - March 22, 2013 0:50

There is a triple top forming on the hourly gold chart right now, similar to the one that formed at $1587 last week.  That one fell and so will this one.  The market looks poised to take a shot at the $1620 mark tomorrow.  A close above that would be a major bullish signal in […]

Gold Closes Over $1600 on Cyprus Fiasco - March 18, 2013 21:34

The more I think about what the Troika and the Cypriot government have done in Cyprus the more I’m convinced that this is a watershed moment in this phase of monetary history.  Period.  People who should frankly know better should have seen what lay on the other side of what they were doing, namely hacking […]

Cyprus Bailout Sparks Spike in Gold - March 18, 2013 2:24

With the unprecedented — and frankly brazen — attack on property rights that is at the core of the bailout of the Cyprus banking system there should be little surprise in the response by the gold market which saw it open $15 dollars higher in Sydney trading.  The capping began right after that as the […]

Gold and Silver Survive Latest Labor Report Beat - March 15, 2013 0:53

The initial jobless claims number came out this morning and right on cue the precious metals were both attacked after being weak all through European trading.  Gold was pushed back below the former Maginot line at $1585 only to recover with a vengeance and see the hedge fund shorts come in to keep the price […]

Gold Knocks on $1600 Again, Thwarted by Euro Weakness - March 13, 2013 20:47

As I’ve been saying, the tenor of the Gold market has changed in the past couple of weeks.  We are seeing more buying during the illiquid COMEX pre-market than we did before the bottom at $1550. This tells me that whoever is still trying to cap the price of gold it isn’t the same group […]

Brent Prices Continue to Soften - March 12, 2013 23:39

Brent crude prices have been falling steadily for the past three weeks having come down from $119 per barrel to $109 per barrel.  It has been a relentless drubbing that coincided with the peak of the Euro and further exacerbated by the results of the Italian election along with poor commodity demand numbers hitting the […]

Gold Sniffs $1600, Settles Higher - March 12, 2013 23:13

After days of bumping up against the $1585 per ounce level gold finally pushed through it in a burst this morning during European session to take a couple of stabs at $1600 before the bulls gave up and rode the day out between $1590 and $1595.  Looking at the chart it is obvious that $1585 […]

Volatile Gold Settles Higher - March 6, 2013 23:20

What a day in the gold pits.  Right from the opening of the COMEX pre-market prices began breaking lower as the daily raid commenced right on schedule.   The problem was the bulls were lying in the weeds and sent the price back towards $1580 which needed to be defended.  It was until the opening of […]

Market Stability Has Been Acheived - March 5, 2013 1:05

This may have been the most boring Monday in the markets I’ve seen in a long time.  The only thing that is for sure, however, is that the S&P 500 will rise and if it doesn’t do so early in the session it will do so late.  So, officially, as Zerohedge pointed out, a new […]