Upheaval in the Yen Pushes Gold over $1400 - June 7, 2013 0:29

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 - June 4, 2013 22:39

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 […]

Yen Retreats Below 100, Gold Rises - June 3, 2013 22:15

The relationship between the Yen and Gold prices could not be more clearly delineated than it was during today’s trading.  The Yen began strengthening versus the dollar early after 9am and with that took the price up gold up quickly back to $1415 per ounce where it bounced around for the rest of the day.  […]

Gold Breaks Through $1400 on Japan Volatility - May 31, 2013 3:23

The key to understanding how the Federal Reserve has been able to keep the price of gold under control for the past six months during all of this QE has been to look at the Japanese Yen.  I might be smarter than the average bear but sometimes it takes a village to figure out why […]

Gold Gyrates Below $1400 Still - May 28, 2013 22:46

Today was a special day in that we saw nearly two full cycles of gold attempting to break through $1400.  The first happened in Asia last night.  The second happened during the COMEX hours in New York this morning.  Both times the selling came in strong to push gold back down, first to $1375 and […]

Gold Ends Week Up, Despite Turmoil - May 24, 2013 22:03

Testimony from FOMC Chairman Ben Bernanke on Tuesday sparked an lot of volatility across a number of markets, most notably the Nikkei which dropped 7.3% the following evening, causing equity markets the world over to stall in their pursuit of Dot.com-like P/E’s.  Gold began the week following through with Friday’s weakness as margin-related selling forced […]

Gold Rebounds now that Bernanke is Done Talking - May 23, 2013 23:02

It is one of the unwritten rules of the market, “Gold cannot make the FOMC Chairman look bad.” Yesterday’s Humphrey-Hawkins testimony by FOMC Chairman Ben Bernanke was the catalyst for the hit on gold and silver during the COMEX hours.  And it happens every time the chairman is due to speak in public. The efficacy […]

Bonds Finally Begin Calling Bernanke’s Bluff - May 22, 2013 23:15

Look, for months the Fed has been trying to have its cake and eat it too.  Every other day it seems we are treated to another pronouncement from a U.S. central banker which is intended to keep the market guessing about its intentions to end the bond-buying program known as quantitative easing.  All of this […]

Gold Continues to Fail at $1400, No Momentum Allowed - May 22, 2013 0:52

On a day where FOMC chairman Ben Bernanke was testifying there was little hope that there would be any upside breakout to the price of gold.  We had two other Fed governors come out to talk up and down the efficacy of quantitative easing and a continuation of mad hedge fund shorting at lower price […]