Gold Threatens the $1700 Level as Equities Sag - October 23, 2012 23:01

The fear trade seems to be returning in full force, but this time it is fear of a true global recession that is driving capital back into the very fickle arms of the U.S. Dollar and, to a lesser extent, U.S. Treasuries.  After as successful defence of 79 the USDX has moved back to 80 […]

Gold Firms After Weak Asian Open - October 22, 2012 22:25

Friday’s waterfall European close in gold was nothing more than options expiration take-painting.  And, while gold had a perfect setup this month to assault $1800 and push through to $1850, that setup looks to have failed spectacularly.  After a weak open in Sydney last night Gold strengthened coming into the COMEX session and dollar by […]

Gold Closes Down with General Markets on Option Expiration Reset - October 19, 2012 22:06

I knew there would be days like this ahead at some point, though, to be honest, I didn’t expect them now.  A full-fledged market retreat happening before the election seemed remote but as we approach the final days of the campaign season and the growing likelihood of a Romney victory – frankly something else I […]

Gold Breaks Through $1750, Euro Stalls Above $1.31 - October 17, 2012 22:28

It is becoming more obvious by the day that the 79 level on the USDX is being defended by the major central banks ahead of the U.S. Presidential election in three weeks.  Four times today the USDX approached (or breached) the 79 level on the downside and four times it was lifted back up and […]

Gold Rebounds on Euro Gains - October 16, 2012 22:02

Yesterday’s flush of Gold down to $1730 served to be a wake-up call to the bulls who had been lying in wait for a further correction.  Their patience was rewarded.  With the Euro, however, moving back over the $1.30 level today that made it difficult for the bears to hold the price down below $1740.For […]

Sell Off in Gold Intensifies Drops Below $1750 - October 16, 2012 0:20

Gold is caught between the QEIII announcement and the actual start of it. Regardless of what the Federal Reserve said they would do, since September 13th’s announced open-ended, without conditionality, QE to infinity the Fed has done nothing except contract the monetary base.   This is in direct conflict with what they said they would do, […]

Gold Ends the Week off $25 - October 12, 2012 22:19

A week of mild long liquidation took place in Gold this week as the markets were in risk-off mode for much of it.  After a $250 run up, sincere capping efforts on the part of the central banks and some rotation back into U.S. treasuries saw Gold finally put in what can be considered a […]

Crude Oil Gains on Supply Uncertainty - October 10, 2012 23:51

Crude oil futures gained on Tuesday despite stronger US dollar as investors were concerned over global oil supplies on threat of Syrian conflict may be spreading to other mid eastern countries. Moreover, the move of China for tackling slower growth in their economy also boosted the investors’ sentiment. On Tuesday, the People’s Bank of China […]

The Word of the Day is $1765 - October 10, 2012 22:16

One look at an intraday chart of Gold and you can see where the line in the sand for the day was drawn.  The 15 minute chart  of gold shows it very clearly, especially if you look at it with the volume up at the same time.  Anyone vaguely acquainted with Auction Market Theory can […]