Gold Completes the Turnaround, Closes over $1730 - November 10, 2012 0:36

It was quite a week in the Gold pits.  After Friday’s rout where $1680 was violated, throwing a very bearish signal last week, the bulls began the week in full retreat falling back to $1672.50 where they dug in and forced the speculative shorts to begin covering.  This ground higher all through Monday and Tuesday […]

Right on Schedule, Gold Busts Back Through $1700 - November 7, 2012 0:22

You know, it’s getting a little silly to be honest.  I really wanted to believe that the Gold and commodity markets were not being manipulated down before the U.S. presidential election but after today’s action in the markets it is hard to not believe it. After grinding inch by inch higher for near 48 hours […]

Gold Threatens the $1700 Level as Equities Sag - October 23, 2012 23:01

The fear trade seems to be returning in full force, but this time it is fear of a true global recession that is driving capital back into the very fickle arms of the U.S. Dollar and, to a lesser extent, U.S. Treasuries.  After as successful defence of 79 the USDX has moved back to 80 […]

Gold Closes Down with General Markets on Option Expiration Reset - October 19, 2012 22:06

I knew there would be days like this ahead at some point, though, to be honest, I didn’t expect them now.  A full-fledged market retreat happening before the election seemed remote but as we approach the final days of the campaign season and the growing likelihood of a Romney victory – frankly something else I […]

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 Declines ahead of ECB Meeting - September 6, 2012 23:59

Gold futures fell on Wednesday as investors had mixed opinions before the meeting of European Central Bank on Thursday. Investors are also keenly waiting of US jobs data due on Friday. Gold futures contract for December delivery fell 0.1 percent or $2 to settle at $1,694 per ounce on the Comex division of the New […]