Gold Continues to Hover Near $1600 - March 27, 2013 1:00

As the fallout from the Cyprus deal continues to settle into the markets and we approach the end of the month, Gold is caught in a crosswind between the obvious demand in the physical market and the needs of the futures market to maintain order, given the unbalanced nature of the COT report at last […]

Ahead of Futures Expiration Gold Falls Back - March 23, 2013 3:49

At this point you are watching a trapped set of market shorts beat a tactical retreat away from a disastrous position that if the central banks on the other side of the trade wanted to could wipe them out (all of them) in about an hour.  But, since these same shorts allowed those central banks […]

Cyprus Bailout Sparks Spike in Gold - March 18, 2013 2:24

With the unprecedented — and frankly brazen — attack on property rights that is at the core of the bailout of the Cyprus banking system there should be little surprise in the response by the gold market which saw it open $15 dollars higher in Sydney trading.  The capping began right after that as the […]

Gold and Silver Survive Latest Labor Report Beat - March 15, 2013 0:53

The initial jobless claims number came out this morning and right on cue the precious metals were both attacked after being weak all through European trading.  Gold was pushed back below the former Maginot line at $1585 only to recover with a vengeance and see the hedge fund shorts come in to keep the price […]

Gold Sniffs $1600, Settles Higher - March 12, 2013 23:13

After days of bumping up against the $1585 per ounce level gold finally pushed through it in a burst this morning during European session to take a couple of stabs at $1600 before the bulls gave up and rode the day out between $1590 and $1595.  Looking at the chart it is obvious that $1585 […]

Gold and Silver Stabilize After G-7 Gabfest - February 13, 2013 1:08

Coming into tonight’s State of the Union address both Gold and Silver were in serious danger of washing out to recent spike lows.  Bulls, however, came in to support gold at $1640, well ahead of the $1626 spike low from January which is the current downside magnet.  There is little to do at this point […]

Silver Continues to Trade Sideways - February 7, 2013 0:09

Silver has been capped all week below $31.85 per ounce.  The apparent situation for March delivery could be explosive especially considering that physical investment demand in the U.S. hit an all-time high in January.  People love silver at this price.  It represents one of the few undervalued assets in this new QEternity environment. One of […]

Euro Bolts Past $1.35 on U.S. GDP News - January 31, 2013 1:11

I certainly hope that people who are short the Euro would get it through their skulls that it doesn’t matter what the U.S. financial press (or Zerohedge for that matter) says about the Euro-zone.   When you compare the situation with the Euro versus the situation with the U.S. Dollar the Dollar is the far uglier […]

GDP Prints Negative Gold Reclaims $1680 - January 31, 2013 0:41

The surprise print of negative GDP growth in the U.S. for the fourth quarter sent gold up 1% (love those ESF guys coming in to ensure it goes absolutely no higher than that) past $1680.   Not only did gold survive that and not give back that gain immediately it survived a brief assault as the […]