Gold Stutters then Blasts towards $1700 - January 18, 2013 15:46

Thanks to the Bundesbank and a request from one of the major political parties in The Netherlands gold was able to shrug off the take down on the COMEX open yesterday in conjunction with better than expected initial unemployment claims report.  After selling down to $1666.65 in the futures market gold took about an hour […]

Gold Closes over $1680, Sets Up Bullish Breakout - January 17, 2013 1:19

I’ll make this brief.  If gold closes above $1678.50 tomorrow then that is a bullish 2-bar reversal on the weekly chart which cannot be ignored.  Considering how hard this level is being contested currently by the Exchange Stabilization Fund and others I will say with confidence that this latest downdraft — nearly wholly manufactured by […]

Germany Wants Their Gold Back - January 15, 2013 19:33

The significance of this can not be over-stated.  This is a breakdown of trust between Germany and those who have held their sovereign gold reserves for the past 60+ years. Requests like this do not come often nor are they made lightly.  There are serious problems lurking just out of sight in the global financial […]

Euro Holds Gains From Breakout, Oil Firms - January 14, 2013 23:08

The Euro completed an important week of trading last week with a close above the important $1.33 level, which, after the ECB policy meeting and successful Spanish and Italian bond auctions, confirms a significant breakout setting up a continued bull market through at least Q1 of 2013.  You can check out more details here. The […]

Will the Price of Silver Soar or Slide in 2013? - January 11, 2013 19:54

Market analysts are predicting significant movement in the silver market. As gold prices continue to decline, will silver steal the financial trading limelight to become one of the best commodities to hold in 2013? Historical Prices In January 1980, the price of silver reached £17.18 per troy ounce – a rise of more than 2,000 […]

E.C.B. Holds Rates, Sends Gold, Commodities Higher - January 11, 2013 3:04

The E.C.B.’s latest policy meeting ended with the central bank not bowing to pressure from choking banks to lower interest rates and held the benchmark lending rate at 0.75% for the time being.  This lifted the cloud that had been hanging over the Euro for the past few weeks while capital in the major U.S. […]

Commodities Firm on Oil Data - January 10, 2013 0:00

The commodity complex was firm again today after the latest U.S. oil inventories were released.  While this data is more important for the price of West Texas Intermediate it still has an effect on marginal demand.  Brent Crude refused to back down below $111 after challenging the recent channel highs above $112 yesterday.  If this […]

Gold Ends Week Down on FOMC Minutes, Fund Re-Balancing - January 5, 2013 7:35

The minutes from the December FOMC meeting sent major shock waves reverberating through the capital markets this week.  Not only was the Euro thrashed back to re-test the $1.30 level, Gold was taken to the woodshed and beaten back to $1626 before rebounding sharply intra-day to close the week at $1655.85 per ounce.   In the […]

Gold Pushes Towards $1700, Oil Tags Along - January 2, 2013 23:28

My daughter recently discovered the original Muppet Movie on Netflix and while watching Gold and Oil today all I could think of was the great duet between Kermit and Fozzie at the beginning of the movie…. ‘movin’ right along’ indeed.  Gold popped higher this morning on news that the House had approved — ostensibly with […]