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 […]

Gold Loses $1700 In Early Trading - December 4, 2012 15:59

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 - November 30, 2012 22:50

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 […]

Silver Regains $34 While Gold Struggles - November 30, 2012 2:09

All idea of there being any correlation between the action in the precious metals pits and any other particular market at this point is simply a guess.  There are obvious operations happening to manage the price of both metals for the purpose of saving the primary dealers and the COMEX while the physical markets for […]

Gold and Silver Hacked on Futures Expiration - November 28, 2012 23:40

I know that it must sound like a broken record but this literally happens so often anymore that it is beginning to defy description.  After watching a two day blocking action in both gold and silver from the 15 minutes after the popped higher on Black Friday to yesterday’s skirmishes which sent the metals slightly […]