Gold Continues to Hold $1600 - February 20, 2013 1:20

There’s little doubt that the current sentiment in Gold is as bearish as it has been since the worst days after the tech bubble burst while prices would continually attempt to break higher but were constantly rebuffed and people bailing of winning positions because of fear.  Today we have much the same thing.  Since the […]

Gold Drops on Eurozone GDP Horror Show - February 14, 2013 21:39

For those that missed it, Gold re-coupled with the Euro in early January after the ECB’s policy meeting and Mario Draghi’s comments on about the direction of ECB monetary policy for the medium term — think tight.  Since that day the daily directional moves in Gold and the Euro have been in sync, with Gold’s […]

Brent Arrests Slide as WTI Spread Widens - February 13, 2013 1:39

Brent Crude prices reversed a two-day slide that began last Friday after coming within sight of $120 per barrel on short-term inflation expectations.  In doing so the spread between it and West Texas Intermediate Crude widened back above $20 per barrel.  The spread had narrowed considerably on the re-opening of the Seaway pipeline.  But traders […]

Gold and Silver Stabilize After G-7 Gabfest - February 13, 2013 1:08

Coming into tonight’s State of the Union address both Gold and Silver were in serious danger of washing out to recent spike lows.  Bulls, however, came in to support gold at $1640, well ahead of the $1626 spike low from January which is the current downside magnet.  There is little to do at this point […]

Gold Survives Another Vicious Attack Post Draghi Comments - February 8, 2013 3:01

You almost have to feel bad for whatever hedge fund(s) is trying to piggy-back on the ESF and the Fed’s capping of the gold price at this point.   The take down of gold — this seems to be something I’m writing on a daily basis now — started at 9:15 this morning and took gold […]

Silver Continues to Trade Sideways - February 7, 2013 0:09

Silver has been capped all week below $31.85 per ounce.  The apparent situation for March delivery could be explosive especially considering that physical investment demand in the U.S. hit an all-time high in January.  People love silver at this price.  It represents one of the few undervalued assets in this new QEternity environment. One of […]

Gold Rallies to Highest Close in Two Weeks - February 6, 2013 23:59

The bulls are slowly grinding out another hard-fought uptrend as they engage in even more trench warfare and the Maginot line that has been drawn at $1685 per ounce this week.  A beautiful quadruple-top was painted yesterday so the resistance will continue to be heavy.  Bulls will have to be serious about wanting that level […]

Gold Spikes and Crashes on Huge Volume - February 5, 2013 23:35

Let it not be said that the powers that be are nothing if not consistent.  A rally to $1685 by Gold this morning was met with an avalanche of paper beginning just before equities opened this morning in New York.  One could almost get the sense that the bulls knew the raid was coming as […]

Another Day, Another Opportunity to Cap Gold - February 2, 2013 1:24

It is very obvious at this point that there is a serious problem on the COMEX.  43 tons were delivered in January, more than 4 times December’s amount which is normally a big month for Gold to be taken off the exchanges.  After a month like that it is clear that in order to keep […]