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 […]

Gold Ends Week Unchanged - March 1, 2013 20:57

Despite an affirmation of the validity of current monetary policy when brought before his partners-in-crime masters by FOMC Chairman Ben Bernanke and the subsequent pop in Gold prices, Gold was brought back down over 4 days of relentless selling to end the week exactly where it began, $1579 per ounce.  Now, given the last few […]

Brent Stabilizes But Remains Vulnerable - February 28, 2013 3:03

Brent Crude futures tested $112 per barrel today and is currently attempting to stabilize in that region after a hasty retreat away from $118 per barrel.   Equity markets recovered their bullish posture while the WTI to Brent ratio has contracted back under $19 per barrel.   Brent and the precious metals were outliers today as the […]

Bernanke Speaks and Gold Spikes - February 26, 2013 22:38

It was almost humorous today in the gold pits as the hedge fund that tries to act like the ESF got run over at the outset of FOMC Chairman Ben Bernanke’s first day of testimony at the semi-annual Humphrey-Hawkins Senate review of monetary policy.  Gold, which had been trading well north of $1590 per ounce […]

Gold Decouples from Euro over Election Worries - February 25, 2013 23:39

Gold prices came out of early European trading having held onto gains made during the Asian sessions with the price hitting a high near $1593 per ounce.  Once the U.S. pre-market opened, however, the very normal selling pressure began and pushed the price back down to $1584.  Then all hell broke loose as the exit […]