Gold Settles Back, Re-Tests $1400 - April 23, 2013 21:20

Since last week’s crash I’ve been saying that if the gold market was going to turn around it would be a tough slog higher;  in a three steps forward two steps back pattern.  This behavior has been in evidence since yesterday morning where Gold hit a high above $1435 and since then has been settling […]

Gold Tests $1400 Holds During New York Trading - April 18, 2013 22:41

Today would be characterized as the first strong showing of Gold in the U.S. markets this week.  The nightly rise in prices during Asian trading was not sold relentlessly to pursue as low an afternoon fix as possible.  Gold rallied right up to $1400 per ounce at which point it ran out of steam near […]

Gold Tests $1400 Fails, Falls in Asian Trading - April 18, 2013 2:40

Just moments ago Gold was bombed on the Hong Kong open back below $1340 per ounce, before recovering slightly.  Last night the market re-tested $1400 just after the U.S. equity market opened but that test failed and gold was under pressure all day through New York trading and through early Sydney trading.  Once Hong Kong […]

FOMC Minutes Release Gives Cover to Smash Gold - April 10, 2013 22:05

So, the FOMC accidentally released the March minutes early yesterday but did not bother to inform the markets until after 9:00 am, timed perfectly to push Gold down on the supposedly hawkish sentiments of a number of members who have no power to set policy.  Gold was sold with extreme prejudice back to $1558 per […]

Gold Gives Up Ground in Quiet Monday Trading - April 8, 2013 21:45

Today’s action in the gold pits was as predictable as night following day. There was no major headline or economic data point to react to which meant an opportunity to create more stability after Friday’s substantial move back over $1580 per ounce.  Coming into the European open gold had put on a couple of dollars, […]

Gold Rockets Up on Risk Off Trade Returning - April 6, 2013 0:06

Even the late afternoon ramp in equities could not dampen the bullish atmosphere in the precious metals futures pits today.  After a horrific Non-Farm Payroll print that even CNBC couldn’t spin in a positive light, Gold shot up past $1570 and then subsequently twice pushed through obvious capping action at $1566 and $1572 before ending […]

Gold Continues to be Pressured by Commodity Weakness - April 4, 2013 1:12

The cover story at this point for the latest operation in the Gold market is commodity weakness today on weak employment data.  Since silver is now trading wholly along with the commodity complex when it is convenient then gold is dragged along with it.  In other words folks, there is no rhyme or reason to […]

Gold and Silver Shellacked - April 3, 2013 1:49

At this point I’ve got to say that it is becoming nearly comical the lengths to which our central planners will go to keep the world from panicking over their own profligacy.  The attack on Gold and Silver today was one of those near comical moments.  At this point what do they think they are […]

Gold Succumbs to Shorting Pressure - March 29, 2013 3:00

While we are watching record amounts of gold stand for delivery on the COMEX and the European banking system being delat irreparable body blows in the hope of re-igniting money velocity gold was relentlessly sold even though the GDP and unemployment data coming out of the U.S. was below expectations.  This should have sent gold […]