Gold and Oil News
Gold and Oil News, LiveWire Economics Blog - January 2, 2013 17:51
Fiscal Cliff Avoided, Can Kicked, Risk On
Hey sometimes this market commentary thing is really easy. I hope everyone enjoyed their holidays and we can get back to the very serious business of kicking the financial burden farther down the road until my daughter’s grandchildren are indebted. As a first post for the New Year I want to get a few things […]
Gold and Silver Claw Out Gains Amidst Fiscal Cliff Fears
Gold popped early Thursday morning back above $1660 per ounce, a level it could not hold after yesterday attempting to take out the cap on the hourly chart at $1666.45 per ounce in the futures market — a failed breakout at that level Wednesday morning set up weakness all through Asian and European trading. While […]
Gold Spikes Down to $1650 on Multiple Signals
I’m watching the gold market right now and $1650 has been reached this morning. There is still nearly two full sessions until options expiration tomorrow so this current downdraft has a lot of potential for a major wipe out. If you are long gold with leverage you are an idiot. Jim Sinclair has been telling […]
Euro Bullish Breakout
In yesterday’s blog I noted that the Euro / US Dollar cross was approaching breakout territory. The Euro last Friday put in the highest weekly close versus the Dollar since late May and was threatening last week’s high at $1.317. Yesterday took the price of the Euro over that level and today it has followed […]
Euro Looking to Break Out to $1.35
Last Friday’s close on the EURUSD cross was the highest weekly close since the middle of May. The euro pushed up against the US Dollar closing just over $1.316 eclipsing the close of $1.3128 to end the week of August 9th. This is a very significant occurrence given the Federal Reserve’s statement about QE this […]
Gold Holds onto $1700, Closes Flat Before FOMC
Tomorrow is the latest policy statement by the FOMC and as such always creates certain types of havoc in the markets. If Bernanke and the Fed announce the actual commencement of the QE program that they promised back in September, then this latest relentless attack on the price of Gold today can be seen as […]
Gold Rises in Asian Trading, Fades on COMEX
If you watch the Gold market everyday like I do you will begin to notice when the market does things differently than it did recently. For the past 2 months Gold has been trading like it did for years, up slightly in the Asian markets only to be ground down after the London fix until […]
Gold Surivives Assault — Ends Week at $1705
Another bearish week for Gold as the bears clearly have the upper hand in this market. The Bulls keep digging in their heels at important support levels but the waves of selling hitting the market during the European and U.S. market hours is too much to allow the price to rise significantly. The selling starts […]
Gold Loses $1700 In Early Trading
Looking at that monetary statistics, it is obvious that no matter what the Fed says they have not begun their QEIII program. The Adjusted Monetary Base — not the strictest variable for the evidence of QE I will grant — stubbornly continues to oscillate around the $2.6 billion level, which, along with Euro strength right […]
Gold Ends November Down $4 for the Month
A continued assault in the Gold pits today ensured that Gold ended the month of November down $4 over the opening price. For the technical guys out there that’s a 2 month downtrend which will have the longer-focused momentum players expecting a down December. Given how tight the spread between the November open and closing […]
Most Popular Content
- Gold Flying and Making New All Time Highs
- Gold Prices Slip Ahead of Anticipated Economic Data
- Oil Prices Surge From Lows Amid Mixed Global Signals
- U.S. Stock Indices: A Dance Between Optimism and Fear
- Gold Prices Dance with CPI Data and the Fed
- Oil Prices Surge Amid Record Demand and Supply Tightening
- Gold Steady As US Dollar Index Tries to Make Gains
- Some Respite for Crude Oil within Bear Trend