Gold has been under selling pressure since early December. That powerful drop and the chart pattern it has formed will generally resolves itself after an ABC retrace pattern. I have drawn this on the chart which is what I think will happen in the near term. This daily chart of GLD ETF has a small [...]
Gold is in a strong bull market but the short term charts have provided over 13 short trades in the past 2 weeks for futures traders playing the bounces to resistance levels. The triangle on the 60 minute chart with declining volume is a continuation pattern of the short term trend which is down. Because [...]
Scott Redler of T3Live.com We recently reentered the gold trade with an average price of $110.44 on the GLDs after having exited our year long position on 12/3. If GLD can get an hourly close above $111, I will add yet another tier–approximately $1,140 in the commodity itself. Take a look at the chart below [...]
ZERO Hedge And forthwith, the oracle speaks. The much awaited 2010 Commodity Outlook is out. Here is the 2010 summary breakdown: Some commentary: As we start a new decade with the global economy emerging from the worst recession of the post-war era, we expect the commodity supply-side constraints of the past decade to once again [...]
Skip to about the 7:45 mark to hear Rick Santelli say, “Central banks have to be petrified about gold going to $2,000! Didn’t Larry Summers write a paper saying that central banks have to keep a lid on the price of gold for obvious reasons?” It keeps getting more and more interesting with nary a [...]
Recent third quarter data from the World Gold Council showed that while gold supply fell 5%, demand (inclusive of investors) fell a much larger 34%. Yet despite this negative disparity between supply and demand change, gold prices rose during the period. Hard Assets Investor: Year-over-year demand has dropped in each of gold’s three market segments: [...]
by Jeff Clark, Senior Editor, Casey’s Gold & Resource Report “There’s no doubt in my mind that we’ll have a mania in gold. And because the gold and especially silver markets are so tiny, the rush into them will be like trying to push the contents of Hoover Dam through a garden hose. Our positions [...]
Large banks and more recently pension funds have suddenly become infatuated with gold. They chant the mantras that gold bugs have known for years: gold is a store of value; owning gold is financial insurance; an ounce of gold will always buy a good suit. The idea is that if the economy continues to weaken [...]
We could start to see a shift between the price relationship between gold and the broad market. I pointed this out last week mentioning that gold and silver are starting to hold up in value while stocks sell off on big days. For example, Wednesday’s sell-off in equities did not have much effect on precious [...]