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, […]

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 […]

Gold Bounces Off of $1769 as Election Looms in the Background - October 9, 2012 0:22

I’m not sure what significance $1769 has but the bulls drew their own line in the sand around $1770 all day today, never once allowing the yellow metal to close on an hourly basis below $1771.15 on the December contract.  It was a risk-off kinda day as equities drifted lower and Silver was whacked below […]

NFP Beat Stuffs Gold But Ends Higher on the Week - October 6, 2012 0:19

The final Non-Farm-Payroll report from the U.S. Bureau of Labor Statistics led with a headline drop of 0.3% in the U-3 Unemployment Rate in September, allowing President Obama the opportunity to crow about how many McJobs he created in his 4 year term and that’s why we should give him another 4 years to finish […]

Gold Slogs Through Broad Resistance - October 4, 2012 21:33

So far this week Gold has make three attempts at the $1800 per ounce level.  Two off them happened today and were rebuffed.  The first one happened on the COMEx open and the second one, interestingly, happened on the COMEX close.  I spent a lot of this morning watching a 15-minute chart of the price […]

Gold Continues to Base Below $1800 - October 2, 2012 22:21

Gold attempted again this morning to mount an assault on the $1800 per ounce area.  While not as dramatic as yesterday’s spike high near $1794, today’s action in the moments before the COMEX open had gold bulls licking their chops until that market opened.  The selling started in the Silver pits at 8:25 EST and […]

Gold Futures Gain on Prospects of QE - June 14, 2012 23:53

Gold futures gained on Wednesday in reaction to hopes of further quantitative easing by Federal Reserve and other central banks. Moreover, decline in producer prices and retail sales further weakened the greenback which eventually boosted the precious metal on its safe haven status. Gold futures contract for August delivery surged 0.4 percent or $5.60 to […]

Gold Futures Decline on Weak Economic Data - June 1, 2012 23:58

Gold futures fell on Thursday in reaction to lower than expected US economic data which also affected the US stock markets. As per the latest data, payrolls in private sector increased by 133,000 in May as compared to expected increase of 150,000. Moreover, the US Commerce Department also released its data on jobless claims which […]

Gold Futures Climbs Despite Higher US Dollar - May 25, 2012 23:58

Gold futures contract gained on Thursday despite several negative impacts to push the precious metal back to negative territory. Gold futures contract for June delivery surged 0.6 percent or $9.10 to settle at $1,557.50 per ounce on the Comex division of the New York Mercantile Exchange. The respective contract touched its intraday high of $1,577.70 […]