Gold and Oil News
Gold and Oil News - September 18, 2013 16:36
Gold Fights for $1300 Ahead of Fed Meeting
The all-important FOMC meeting should be concluded and if it went to form the members spent all of 20 minutes deciding the fate of the world and 2 days figuring out how to communicate that to us mere mortals. When you think of it like that the idiocy of central planning is pretty stark.  But, […]
Gold Weakens on Technical Selling Ahead of Fed Decision
At this point it looks like the gold market has priced in a far greater amount of tapering of bond purchases than is actually being discussed in polite circles — $10 to $15 billion per month. The weakness in gold this week stems from both political incompetence in Washington prevailing over Syria and strategically-timed selling […]
Syria Bombing Fears Recede Along with Gold Prices
Now that Vladimir Putin has played most of his hand at the G-20 meeting, getting the Assad government to agree to placing its chemical weapons stockpile under international control, the Obama administration has to back down from unilaterally bombing Syria in the name of Qatari and Saudi gas pipeline interests. This has gold seeing profit-taking […]
Jobs Number Sends Gold Back Near $1400
The market’s knee-jerk reaction to this morning’s Non-Farm Payroll miss — 169,000 jobs vs. expectations of ~180,000 — sent everyone intorisk-offmode as Gold spiked more than $20 on the news to trade around the $1390 level. Silver rose $0.60 and looks like it will challenge the elusive $24 area as we approach the end of […]
War Trade Pushes Gold Back Over $1400
Last week we were assured by U.S. Secretary of State John Kerry that the U.S. would definitely be going to war with Syria over the alleged use of chemical weapons by the Assad Government. That pushed gold above the June high at $1423 briefly before cooler heads — and the doves in the U.K. House […]
Gold Ends Week Up Slightly, Waiting for a Signal
Thanks to yesterday’s ‘Hilsen-Rumor‘ the final pretense that the Federal Reserve was actually going to taper off of its bond-buying program known as Quantitative Easing was dispelled. This had the effect of buoying equity markets last night and into this morning while also putting a stiff bid under both Gold and Silver. Of course, a […]
Bond Markets Gyrate While China is on Holiday
For anyone trying to figure out why Gold cannot rally in the face of spiking bond yields and an appreciating Yen, look no further than your calendar. The Chinese markets are closed for the first three days of this trading week and with that one of the major sources for gold demand. For those that […]
Non-Farm Payroll Report Sends Equities Soaring
Days like today have me hearing echoes of Bob Cole on Hockey Night in Canada running through my head, “Stick Save! And a beauty!”  The S&P 500 was well on its way to putting in a full-blown reversal bar on the weekly chart this week with a close below 1626.40. Considering just yesterday the markets […]
Upheaval in the Yen Pushes Gold over $1400
Last night while the Yen was breaking down I found myself laughing at the stubborn refusal for the futures market to allow gold to print a 14 handle for hours, even though the Yen carry trade was breaking down. Finally this morning the bulls could be held back no longer but only to pop as […]
Lucky Tuesday Has Gold on a YoYo
As Zerohedge likes to point out every week, Tuesday’s are the day of the week where the current equity rally makes its vig. Check out the chart of the Dow with and without the last 20 Tuesdays — all up, mind you — that they posted this afternoon and you can see exactly how this […]
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