Gold Price Action May Be Signaling the Next Big Move Up

The price action in gold and silver this week may be signaling the next big move up. Our sample of technical analysts seem to bear this out and we have little doubt that those fundamentals that have been in place for what seems an eternity are now strongly influencing the bullish decisions of many speculators in precious metals.  Read more

Is There A Bright Side To The Week’s Gold Plunge?

Despite the slaughter on Wall Street this week as reality took center stage, spot gold ended up only $20 down during this period. Over the previous month, however, things have looked far from encouraging on the surface for gold bulls. Spot Gold has tumbled from over $1160 at its peak to Friday’s after hours close at $1066. “ Courage mes enfants” as Napoleon is supposed to have exhorted his elite guard at Waterloo, for we forecast a bright side to this months gold plunge. Read more

Conflicting Messages From Gold Chart Analysts

Spot gold has stayed comfortably above the $955 an ounce level, previously resistance, but in the last week looking like support.

Conflicting messages are coming from the gold chart readers camp as analysts ply their trade in the hope that their choice of time frame, over bought, over sold, head and shoulders, reverse head and shoulders, triangular patterns, fibonacci, MacD etc. and the myriad of other mostly lagging indicators will guide them and their followers to bumper profits. Read more

Gold Players Favour The Short Term

Spot gold started off the week a little over $910 an ounce and rose to $941 before settling down in the $936-938 range on Thursday and at Fridays mid morning European trading.

There were signs earlier in the week that fears of inflation were taking centre stage but that seems to have retreated to the back burner as gold players continue to favour the short-term game. Read more

Gold Drops To $929, Is This Just The Summer Doldrums?

Spot gold dropped sharply to $929 an ounce for a very brief period in European mid morning trading today before recovering to $930 but was still down $4.00 from the open.

Last week saw a drop of just over 0.4% for the period with silver leading the way down with a fall of 4.5%.

The question facing gold and silver market players is whether the last two weeks of gold trading in the $930-$940 range is simply a continuation of the metals historical summer doldrums or are there other factors that may be detrimental to the continuance of the long term bull trend that originated in 2005. Read more

Does the Rally in Gold Reflect the End of a Bear Market Bounce?

Looks like the recent rally in stocks is over as markets react to gloomy forecasts for the current earnings season reports, kicked off by Alcoa (AA) worse than forecast losses for the quarter.

Tuesday’s New York close saw spot gold rally to $884 an ounce a rise of $12 from the open. Wednesday’s Asian trading sustained the rise while at 10am GMT in Europe the price had risen to $888 an ounce.

To us, this rally in gold reflects the end of the bear market bounce we have been witnessing during the last week or so. Read more

Golds Flight To Safety Dampened By Short Term Trades

At 11.25 am CET the gold slide continued where it left off at Tuesday’s NY close, dropping to a tad above $952 an ounce before a sharp rebound to $956 an ounce 15 minutes later.

It would seem that the flight to safety that the dollar has been experiencing in the recent past has come to an end, at least for the time being, and this sentiment now seems reflected in the price of gold.

This situation, as we pointed out yesterday, is a reversal of the past experience of gold and the dollar moving in opposite directions. Read more

Is Gold a Bubble in Waiting?

As expected spot gold pulled back from over $1000 an ounce by Fridays’ close as some nervous speculators took profits off the table before the weekend.

Gold pundits are becoming more and more bullish about the metal with each passing day. It is, after all, about the only ray of sunshine in otherwise cloudy markets.

This raises the spectre of gold bounding ahead of itself as investors of every ilk jump in hoping to outguess the market by getting out at the top with a handsome profit. Read more

Gold, Silver, Platinum Climb | Uranium Stays Unchanged

Gold

Gold’s climb continues as stocks fall and dollar rises.

Spot gold peaked at just over $973 an ounce in Wednesday’s European mid morning trading before falling back to $970 half an hour later.

The belief that the price of gold will move in the same direction as the price of oil and in the opposite direction to the dollar index now looks to be laid firmly to rest. Read more