Gold Re-tests Lows on Asian Margin Selling, Rebounds - May 20, 2013 22:33

Last night’s scare in the precious metals market could be summed up simply as programmed margin selling after Friday’s bushwhacking which occurred after the COMEX close.  This was a replay of the events of April 12th and 15th, where the selling which happened after Asian markets were closed for the week had to carry over […]

The Beat Goes On — S&P Sets New Record - May 14, 2013 23:56

All of the money being printed by the major central banks simply has nowhere else to go.  Today the S&P 500 rallied again late in the session as managed money went bargain hunting with newly minted dollars, yen and euros.  The benchmark equity index closed at 1650.34 (+1.02%) while the Dow Jones Industrial Average rose […]

Follow Through Selling Takes Gold Back to $1420 - May 13, 2013 14:11

The fight in the gold pits it continuing unabated.  After the latest round of Fed jawboning about ‘tapering off’ quantitative easing courtesy of Wall Street Journal mouthpiece John Hilsenrath, hedge funds desperately short with naked positions on the COMEX and in London are continuing to press their advantage attempting to push price to zero as […]

Gold and Silver Continue to Build New Base - May 7, 2013 2:09

From the bullish perspective Gold and Silver are both continuing to hold onto gains made after the historic — and wholly manufactured — crash that occurred between April 12th and April 15th.  In a story that is beginning to sound like that of the movie “Groundhog Day” gold gave back gains made over night selling […]

Gold and Silver End the Week Range Bound - May 4, 2013 16:05

Bravo to the money masters this week, pushing and pulling the timing of the news to reinforce a range trade in Gold and Silver.  This is keeping the mo mo monkeys out of the market — a game that has been going on now since the first day of trading this year when the price […]

Gold Stymied at $1480 as April Ends - April 30, 2013 22:42

Chart painting or legitimate selling pressure, that’s the question I have as April trading finishes in Gold and Silver.  Friday’s high of $1485 has yet to be challenged again as the line has been drawn at $1480 per ounce.  even this morning’s bounce on the announcement of the ECB planning to cut interest rates was […]

Gold Rises on Euro Strength - April 29, 2013 22:36

The Euro pushed back towards $1.31 today while the U.S. Dollar weakened versus the Japanese Yen.  Yen strength means dollar weakness across the board as we saw all inflation assets move higher.   Gold, up until recent months, had been strongly correlated with the Euro/Dollar cross but that relationship has broken down with the rise of […]

Gold Ends Week Up $54, Silver up $.70 - April 26, 2013 23:10

Gold and Silver both were on their way to their best weeks in more than year when a major sell off occurred just after the European close at 11am EST.  Zerohedge speculated that it could have been margin-related selling with some long liquidation to shore up losses in other markets.  But, seeing as not only […]

Gold Routs the Shorts, Next Stop $1500 - April 25, 2013 19:53

I said yesterday that futures expiration was holding Silver back from breaking above $24.  That turned out to be the exact right call.  Gold was held in check below $1450 as well, $1435 in fact — the 200 week MA.  That level has fallen and the market is currently trading in run-away fashion heading towards […]