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 […]

Fiscal Cliff Avoided, Can Kicked, Risk On - January 2, 2013 17:51

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 - December 27, 2012 23:15

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 - December 20, 2012 16:25

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 - December 18, 2012 15:21

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 - December 17, 2012 15:28

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 - December 12, 2012 0:35

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 - December 10, 2012 23:18

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 - December 8, 2012 0:59

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 […]