By Nico Isaac Since always, the mainstream financial experts engage in what I like to call “Operation Cheap Suit.” They “wear” certain ideas like secondhand clothes, carelessly taking them on and off as the occasion sees fit. Case in point: The disposable notion of Gold’s safe-haven status. There is no consistent truth there, but rather, [...]
October gold closed lower on Friday ending a three-day short covering rally off this week’s low. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends this week’s decline, the reaction [...]
Commodities continue to trade at their pivot points while the pressure rises! As mentioned in my last report precious metals are trading at support, this is referred to as a pivot point. With any luck we will see gold and silver rally Thursday and Friday, but it that fails I figure PM’s will slide quickly [...]
October gold closed higher due to short covering on Wednesday but remains below the 20-day moving average crossing at 950.20. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If October renews Monday’s decline, the [...]
For immediate release Information received since the Federal Open Market Committee met in June suggests that economic activity is leveling out. Conditions in financial markets have improved further in recent weeks. Household spending has continued to show signs of stabilizing but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight [...]
October gold closed sharply lower on Monday and below the 20-day moving average crossing at 948.60 confirming that a short- term top has been posted. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are diverging and have turned bearish signaling that sideways to lower prices [...]
(Reuters) – A revamped third five-year pact to limit sales of European central bank gold, complete with a lowered ceiling for planned disposals, is seen boosting the investment case for bullion and extending its multi-year rally. The European Central Bank surprised markets last week with the announcement of a third Central Bank Gold Sales Agreement [...]
October Gold was lower due to profit taking overnight as it consolidates some of last week’s rally. Stochastics and the RSI are diverging and are turning bearish hinting that the rally off July’s low might be coming to an end. Closes below the 20-day moving average crossing at 949.10 would confirm that a top has [...]