Gold Speaks

Although right now we only have anecdotal evidence that that SPDR Gold Shares (GLD) might be making a significant multi-month corrective low in the vicinity of 148.50/25, all of my timeframe work from 5 minutes through the enclosed daily suggest that the price structure is nearing downside exhaustion. Originally from The Market Oracle

In 2011 investors saw gold perform outstandingly in the quiet season in July, August. $2,000 looked a certainty before the end of the year, but then unusual forces pummelled the gold price and all other global financial markets. Shades of the credit crunch hit the markets under the title of the Eurozone debt crisis. This [...]

The last week of the year volume tends to be light due to the fact that big money traders are busy enjoying the holidays and waiting for their yearend bonuses. I was not planning on doing much this week because of the low volume but after reviewing some charts and risk levels on my top [...]

With the move below $1535 this morning gold has confirmed that it is still moving down into a D-Wave bottom. There has been some question as to whether or not the D-Wave had bottomed in September. The penetration of that intermediate low this morning confirms that the D-Wave did not end during the overnight selloff [...]

The WHOLESALE MARKET gold price fell further on Thursday in London, hitting its lowest London Gold Fix since 8th July at $1537.50 per ounce – 19% below Sept’s record high – on what dealers called "long liquidation" and "pressure" from the Eurozone debt crisis. New laws in Japan were also blamed for forced sales during [...]

Before I start I am not some expert who preaches about the “funny mentals” there are far more experienced commentators around that can tell you more about gold, I am a mere mortal, all I do is trade price, I don’t use the news regarding why gold should be up or down, I simply count [...]

Gold is consolidating below $1600 as we enter the last week of the year. The last London gold fix of 2010 was $1405, so barring any dramatic price changes in the last week of the year, the yellow metal is on-track for yet another double-digit gain of about 14%. Originally from The Market Oracle

THE PRICE OF physical gold bullion fell again as London re-opened Wednesday after the Christmas and Boxing Day holidays, dropping to two-week lows against all major currencies in what dealers called a "very quiet session". London dealers returning to work caught up with a 1.4% drop for the week so far, plus news of falling [...]

Are Bonds about to plunge? And if so (or if not), what are the implications for stocks and precious metals? Let’s have a look at TLT, which is the iShares Barclays 20 Year Treasury Bond Fund. Back in 2008, at the climax of the financial crisis, TLT was very stretched above the 200MA, and the [...]

Governments hate competition. Due to record breaking gold prices this year, more unauthorized gold exchanges have been created to capitalize on gold fever. However, China regulators are not happy about the competition. A joint statement issued by People’s Bank of China, the Ministry of Public Security and other regulators recently announced, “No local authority, institution [...]

If you’re looking for a post-Christmas read, take a look at a book called “The Great Stagnation” by Tyler Cowen of George Mason University whose theme is laid out in its subtitle: “How America ate all the low-hanging fruit of modern history, got sick and will (eventually) feel better.” The interesting aspect of this book [...]

On the economic front we see that for the month of October personal income had gained 0.4% while spending had increased 0.1%. For November, economists polled by MarketWatch had expected personal income to gain 0.2%, and for spending to also rise 0.2%. Meanwhile, there was no growth in November for the price index for personal [...]