|
Back
 x 0
 x 0
|
By Craig C. CalvinApril 9, 2013GOLD UP IN EARLY TRADING FED’S QE EFFORTS “LARGE AND DULL HAMMER?”The price for Gold rose in early morning trading, pushed up as the dollar weakened compared to the euro. Because commodities become less expensive to investors holding other currencies when the dollar is weak, those commodities tend to experience gains, and this includes Precious Metals. Gold’s rise this morning eliminated the minor loss the yellow metal experienced yesterday. Tomorrow’s release of the minutes from the Federal Reserve’s meeting on March 20 will be of particular interest to Gold buyers. It was in this meeting that the Fed decided to continue it quantitative easing (QE) efforts of purchasing $85 billion in assets each month. A prominent Wall Street money manager has joined the list of those criticizing the Fed’s QE program. Rick Rieder, the managing director of investment firm BlackRock, is calling on the Fed to rein in its bond-buying efforts, describing them as “a large and dull hammer” that is in danger of increasing inflation. This opinion marks a change for Rieder and BlackRock in the past, the firm had been a proponent of government debt. According to Rieder, “Fed policy has had a distorting effect on capital allocation decisions of all kinds at virtually every level of the economy." At 9:45 a.m. (EDT), the APMEX Precious Metals spot prices were: - Gold, $1,578.60, Up $4.60.
- Silver, $27.48, Up $0.23.
|
|
Good Post
Bad Post
|
x 0
x 0
|
Gold 1617 is New Near Term Pivot
Weekly Bars 
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Commodity Analysis: Gold took a hit last week and the bearish triangle pattern possibility is out the window as gold traded below the February low. It’s obvious that gold is at a huge point in time. A drop below the 2011 low (1522.50) could send price cascading much lower as years of built up longs at bad prices are forced to liquidate. Areas of interest in the event of a break are the areas of 1400 (100% extension and 2010 consolidation), 1300 (127% and 2011 low), and perhaps even 1150ish (161.8% and July 2010 low). This scenario is viewed as possible as long as price is below 1617.
Commodity Trading Strategy: Flat
LEVELS: 1522 1540 1555 1589 1608 1617
|
|
Good Post
Bad Post
|
x 0
x 0
|
by Ryan Schwimmer
April 8, 2013
REPORT: PLATINUM, PALLADIUM TO RISE 22% BY 2014
Gold and Silver have remained relatively flat in afternoon trading, as stocks
hit highs on the day. Ross Strachan, commodities economist at Capital Economics,
believes that “falling production due to cost-related closures and potential
labor unrest means that the prices of Platinum and Palladium could still rise by around a
fifth by the end of 2014.” Strachan also believes that an agreement could emerge
that would act as “an unofficial trade association, akin to the World Gold
Council” for Platinum group metals.
Jim Rickards of Tangent Capital Partners LLC said recently, “ We are seeing a distinct movement back to a world where Gold is
considered money.” This followed news out of Utah, Arizona, South Carolina
and Kansas where bills are advancing to authorize Gold and Silver bullion as
currency in their states. It’s a trend which, along with Texas’ consideration of
establishing an official state depository, seems to be growing rapidly. Arizona
State Senator Chester Crandell said, “I think you look at some of the things
that are happening and the amount of money printed by the Federal Reserve and
who has control of that money, and I think anybody would be concerned. Gold and
Silver have been around a long time and people are secure with it and we should
give them an opportunity to use it.”
At 5 p.m. (EDT), the APMEX Precious Metals spot prices were:
- Gold, $1,574.50, Down $2.90.
- Silver, $27.33, Up $0.01.
|
|
Good Post
Bad Post
|
x 0
x 0
|
by Nicholas Wilsey
April 8, 2013
GOLD PRICE IN HOLDING PATTERN
After ending last week on a high note, Gold has started this week relatively
flat. There is a continued move from commodities into equities, though many
economists wonder how long this trend will last. “ Equities are stronger, and
that's why we are seeing some profit-taking in Gold, but losses could be
contained as there is still a lot of uncertainty, especially in Europe, where
some issues are re-emerging in Portugal,” MKS Capital Senior Vice President
Bernard Sin said. This week’s main focus will be on the United States Federal
Reserve meeting and the future of their easing policies. “Market
participants will be keen to get further clarity on where Fed members stand on
QE, particularly given rising talks of flexibility and potential tapering of
asset purchases,” UBS said in a note.
There is growing negative opinion regarding the direction the Fed is headed.
More than a dozen states have initiatives in motion to use Gold
and Silver as recognized legal tender. Most experts feel this growing
movement is not as much about Precious Metals as it is about the discontent for
the government’s actions on the current economic situation. “The legislation is
about signaling discontent with monetary policy and about what Ben Bernanke is
doing,” University of Central Oklahoma Political Science Professor Loren Gatch
said. “There is a fear that the government, or Bernanke in particular and the
Federal Reserve, is pursuing a policy that will lead to the collapse of the
dollar. That’s what is behind it.”
At 10:06 am (EDT), the APMEX precious metals spot prices were:
- Gold, $1576.80, Down $0.60.
- Silver, $27.30, Down $0.02.
|
|
Good Post
Bad Post
|
x 0
x 0
|
|
|
Good Post
Bad Post
|
x 0
x 0
|
April 05, 2013 - 14:14:49 PDTLeading indicators with strong correlations & huge lead times suggest the trade weighted value of the dollar will dr... Read More
|
|
Good Post
Bad Post
|
x 0
x 0
|
April 05, 2013 - 16:44:47 PDTPerhaps to Kim Jong-un the military escalation to nuclear war is only one big joke, but to the US it is increasingly app... Read More
|
|
Good Post
Bad Post
|
x 0
x 0
|
By Nicholas WilseyApril 5, 2013GOLD PRICES FLUCTUATE THROUGHOUT WEEKThis week, Gold prices moved up and down on economic reporting and a major sell off of commodities. Weaker than expected manufacturing data released Monday put downward pressure on the dollar, causing a mild lift in the Gold price. The Institute for Supply Management (ISM) reflected a significant slowing of U.S. manufacturing expansion for March. The index slipped from 54.2 percent in February to 51.3 percent, surprising economists who expected levels to stay the same. The news of sluggish domestic manufacturing comes amid increasing optimism regarding the future of the U.S. economy. However, without a sustained period of positive data in industrial output and job markets, the Federal Reserve is expected to continue its quantitative easing, which analysts forecast as a strong bullish factor for the long term appeal of Gold. All of Monday’s gains were quickly erased Tuesday as the financial outlook in the U.S. continued to improve. As equities in the U.S. marketplace reach for all time highs, Precious Metals struggle for support. “There is an overwhelming sentiment that growth will remain slow and not inflationary, and that has eliminated some of the momentum investors in Gold,” SICA Wealth Management’s Chief Investment Officer Jeffrey Sica said. Economists now look toward Friday’s U.S. labor report for possible directional indicators. As the week progressed, Gold continued to feel pressure from the strengthening U.S. dollar. The market overlooked news coming from central bank policy meetings that saw the Bank of Japan state they will advocate further monetary easing as the European Central Bank holds steady to its policy. “We have a lot of liquidation of the Gold ETFs and the short position on the Comex for Gold remains very high, so a lot of the macro hedge fund selling have put pressure on Gold,” HSBC Metals Analyst Howard Wen said. Investors await Friday’s U.S. employment data, which will be yet another factor to show if the economy is developing at a successful rate. Gold and Silver prices rebounded significantly while stock futures dipped in the moments following the release of the U.S. nonfarm payrolls report. Expectations for the number of jobs added in March were around 200,000, but the number came in at just 88,000. Earlier in the morning, UBS said in a note, “A significantly weaker-than-expected employment number could spark a powerful upside response (for Gold) given sentiment and the current level of shorts that would be forced to cover.” Though the number of new jobs was a disappointment, the U.S. unemployment rate fell to 7.6 percent however, that is most likely due to fewer Americans looking for work. Federal Reserve policymakers have said recently that figures like the unemployment rate and the number of jobs added month-over-month are key factors in their decision on continuing monetary easing, which has historically been a boon for the Gold price.
GLOBAL ECONOMIC HEADLINES
Though the situation in Cyprus seemed to have been pushed to the backburner of investors’ minds, some experts believe the crisis isn’t over yet. PIMCO CEO & Co-CIO Mohamed El-Erian said, “Draconian capital controls have restored a sense of calm to a disorderly situation in Cyprus. At best, this is a short reprieve. If not followed by more fundamental (and inevitably controversial) decisions, it will just be a matter of weeks before the controls go from being a temporary solution to becoming part of an even deeper problem.” Many believe the issues in Cyprus are a microcosm of the region as a whole. The eurozone employment report was released Tuesday, showing unemployment in the region is higher than it’s ever been, and the numbers keep climbing. More than 19 million people are out of work as of February. That is almost two million more unemployed citizens than this time last year. “Such unacceptably high levels of unemployment are a tragedy for Europe and a signal of how serious a crisis some eurozone countries are now in,” EU Employment Commissioner Laszlo Andor said. Europe is not the only region with upsetting financial news this week. The Bank of Japan’s announced that it would pump $1.4 trillion into asset purchases over the next two years, which is perhaps the most aggressive central bank easing policy to date. “I still think Japan's still the key story,” UBS Financial Services’ Director of Floor Operations Art Cashin said. “We're going to have to find out in a couple weeks whether that begins to move money through the Japanese economic system.” Liberal easing programs by central banks have traditionally been supportive of Gold. Many will wait to see what Japan’s stimulus program holds for world stock and Precious Metals markets. At 5:00 pm (EDT), the APMEX precious metals spot prices were: - Gold, $1582.10, Up $28.20.
- Silver, $27.37, Up $0.50.
|
|
Good Post
Bad Post
|
x 0
x 0
|
 
|
|
Good Post
Bad Post
|
x 0
x 0
|
By Ryan SchwimmerApril 5, 2013JOBS DATA DISAPPOINTS GOLD, SILVER REBOUNDGold and Silver prices rebounded significantly while stock futures dipped in the moments following the release of the U.S. nonfarm payrolls report. Expectations for the number of jobs added in March were around 200,000, but the number came in at just 88,000. Earlier in the morning, UBS said in a note, “A significantly weaker-than-expected employment number could spark a powerful upside response (for Gold) given sentiment and the current level of shorts that would be forced to cover.” Though the number of new jobs was a disappointment, the U.S. unemployment rate fell to 7.6 percent however, that is most likely due to fewer Americans looking for work. Federal Reserve policymakers have said recently that figures like the unemployment rate and the number of jobs added month-over-month are key factors in their decision on continuing monetary easing, which has historically been a boon for the Gold price. At 9:37 a.m. (EDT), the APMEX Precious Metals spot prices were: - Gold, $1,569.30, Up $15.40.
- Silver, $27.19, Up $0.32.
|
|
Good Post
Bad Post
|
x 0
x 0
|
Gold Recovers Slightly, Weekly Close Will be Important
Weekly Bars 
Chart Prepared by Jamie Saettele, CMT
Commodity Analysis: Gold took a hit today and the bearish triangle pattern possibility is out the window as gold traded below the February low. It’s obvious that gold is at a huge point in time. A drop below the 2011 low (1522.50) could send price cascading much lower as years of built up longs at bad prices are forced to liquidate. Areas of interest in the event of a break are the areas of 1400 (100% extension and 2010 consolidation), 1300 (127% and 2011 low), and perhaps even 1150ish (161.8% and July 2010 low).
Commodity Trading Strategy: Pending
LEVELS: 1400 1500 1522 1576 1589 1608
|
|
Good Post
Bad Post
|
x 0
x 0
|
|
|
Good Post
Bad Post
|
x 0
x 0
|
by Brandi Brundidge
April 4, 2013
INVESTORS ANTICIPATE PAYROLL REPORT
Gold continued to feel pressure today from the strengthening U.S. dollar.
The market overlooked news coming from central bank policy meetings that saw the
Bank of Japan state they will advocate further monetary easing as the European
Central Bank holds steady to its policy. “ We have a lot of
liquidation of the Gold ETFs and the short position on the Comex for Gold
remains very high, so a lot of the macro hedge fund selling have put pressure on
Gold,” HSBC Metals Analyst Howard Wen said. Investors await Friday’s U.S.
employment data, which will be yet another factor to show if the economy is
developing at a successful rate.
The Labor Department
announced today the number of unemployment claims increased by 28,000 to an
adjusted total of 385,000, its highest level since November. After an
upturn for job growth in February, it appears that the job market staggered in
March, as data released Wednesday showed that private employers added fewer jobs
during March than in the previous five months. Analysts have predicted that the
increase in jobless benefits could be coming from government budget cuts, which
included heavy layoffs. “You might be getting some effects from the sequester
and the tax hikes earlier this year,” Scott Brown, chief economist at Raymond
James in St. Petersburg, Fla., said.
At 5 p.m. (EDT), the APMEX Precious Metals spot prices were:
- Gold, $1,555.90, Up $0.90.
- Silver, $26.97, Up $0.07.
|
|
Good Post
Bad Post
|
x 0
x 0
|
By Geoffrey VarnerApril 4, 2013GOLD PRICES RETREAT ON STRONGER DOLLARThe Gold price dropped to a 10 month low overnight on the strength of the U.S. dollar. Similar commodities are also seeing price drops. The Silver price is at its lowest point since July and Platinum’s price is at a level not seen since August. Gold, a traditional safe haven investment, has missed the opportunity left open by the Bank of Japan’s easing steps and the recent tensions in the Korean peninsula. VTB Capital analyst Andrey Kryuchenkov said, “At this point it's all about sentiment and if bailout talks in Cyprus, tensions in North Korea and BOJ (Bank of Japan) monetary easing have not triggered buying it is difficult that we will see a turnaround in prices any time soon.” U.S. stock futures are taking advantage of Japan’s announcement of aggressive easing measures designed to pull the country from an extended deflationary period. Steen Jakobsen, chief economist at Saxo Bank, said the BOJ “did the job and delivered a massive QE package – this is seen as more ‘juice’ for investors’ desire for riskier assets at the expense of safe havens.”The European Central Bank (ECB) and the Bank of England kept their respective monetary policies unchanged, as expected. This is the ninth month in a row that the ECB has left the rate where it is. At 9:12 a.m. (EDT), the APMEX Precious Metals spot prices were: - Gold, $1,551.50, Down $3.50.
- Silver, $26.84, Down $0.06.
|
|
Good Post
Bad Post
|
x 0
x 0
|
April 03, 2013 - 16:31:31 PDT
The chart shows that when measured against gold, the Venezuelan Bolivar has “collapsed” from Bs. 860 in 2005, to what ap... read more
|
|
Good Post
Bad Post
|
x 0
x 0
|
Gold Nearing Previous Floor Watch Out Below if it Breaks
Weekly Bars 
Chart Prepared by Jamie Saettele, CMT
Commodity Analysis: Gold took a hit today and the bearish triangle pattern possibility is out the window as gold traded below the February low. It’s obvious that gold is at a huge point in time. A drop below the 2011 low (1522.50) could send price cascading much lower as years of built up longs at bad prices are forced to liquidate. Areas of interest in the event of a break are the areas of 1400 (100% extension and 2010 consolidation), 1300 (127% and 2011 low), and perhaps even 1150ish (161.8% and July 2010 low).
Commodity Trading Strategy: Pending
LEVELS: 1400 1500 1522 1576 1589 1608
|
|
Good Post
Bad Post
|
x 0
x 0
|
by Ted Prince April 3, 2013
PRECIOUS METALS, EQUITIES PUMMELED AMID MAJOR COMMODITIES SELL-OFF
Substantial losses in crude oil, swelling optimism regarding the state of the
U.S. economy and a potential end to monetary easing in Japan have prompted commodities investors to sell-off their positions today, causing
significant losses in Precious Metals for a second straight session. After
falling 1.5 percent on Wednesday, Gold has now plummeted to its lowest level in
nine months. As the news of poor U.S. jobs and services data weighed on stocks,
oil and crops, a weaker dollar was not a buoy for Precious Metals today. Though
Gold and other Precious Metals have historically acted as a safe-haven in times
of market volatility, the recent trend for the rise and fall of Gold has been
related to the metal’s relationship to the dollar. However, that tradition did
not hold true in Wednesday’s trading. Said Sean McGillivray, vice president for
asset allocation at Great Pacific Wealth Management, " It looks like correlations
are all back to one with the stock market, although to be fair, commodities
have never really de-coupled with equities for a long time now.”
Disappointing jobs data added to weak economic data from the last few days to push the Dow Jones
Industrial Average and S& P 500 down further on Wednesday. Short-term
investors will await the release of Friday’s nonfarm payroll data to gain a
sense of direction for equities markets. However, many investors are seeing the
pull-back in Precious Metals prices as a buying opportunity to add to their
long-term, lower risk positions.
At 5:00 p.m. (EDT), the APMEX Precious Metals spot prices were:
- Gold, $1559.30, Down $18.10.
- Silver, $27.04, Down $0.31.
|
|
Good Post
Bad Post
|
x 0
x 0
|
by Ryan Schwimmer
April 3, 2013
ADP JOBS REPORT DISAPPOINTS
Precious Metals prices are mostly flat this morning after the release of the
ADP private-sector payrolls report disappointed investors. While economists
predicted an addition of 215,000 jobs in March after a gain of 198,000 in
February, the report showed that just 158,000 jobs were added last month. Optimism for the U.S.
economy remains strong, however, as economists are warning not to read too much
into this report, and instead wait for Friday’s government estimate on the jobs
market.
Mitsui Precious Metals analyst David Jollie said, “ Ascribing Gold weakness to
equity strength is shorthand for talking about risk appetite, and there's no
doubt that the ostensible solution to what's been happening in Cyprus took away
some of the short-term reason to hold Gold. There is certainly a degree of
optimism about the U.S. economy, and that should lead to some reductions in Gold
long positions. There is scope for Gold to strengthen if economic data isn't as
strong as people are hoping.” Indeed, investors’ eyes seem to be firmly locked
on Friday’s government jobs report for further direction.
At 9:11 a.m. (EDT), the APMEX Precious Metals spot prices were:
- Gold, $1,573.90, Down $3.00.
- Silver, $27.33, Down $0.01.
|
|
Good Post
Bad Post
|
x 0
x 0
|
GLD will fall to 141-143 before it bounce a little and go sideways .
for more details , see my GLD chart (click here)
|
|
Good Post
Bad Post
|
x 0
x 0
|
by Nicholas Wilsey
April 2, 2013
GOLD PRICES SLIP 1.5 PERCENT
Today has seen the largest one day drop in the value of Gold in more than a
month. Silver also saw a sharp drop of more than two percent, which is an eight
month low. As equities in the United States marketplace reach for all-time
highs, Precious Metals struggle for support. “There is an overwhelming
sentiment that growth will remain slow and not inflationary, and that has
eliminated some of the momentum investors in Gold,” said Jeffrey Sica, chief
investment officer of SICA Wealth Management. Economists now look towards
Friday’s U.S. labor report for possible directional indicators.
While the United States employment report comes out on Friday, the eurozone
report was released today, and the numbers are stunning. Unemployment in the
region is higher than it’s ever been, and the numbers keep climbing. More than
nineteen million people are out of work as of February. That is almost two million more unemployed citizens than this time
last year. “Such unacceptably high levels of unemployment are a tragedy for
Europe and a signal of how serious a crisis some eurozone countries are now in,”
said EU Employment Commissioner Laszlo Andor.
At 5:00 p.m. (EDT), the APMEX Precious Metals spot prices were:
- Gold, $1576.90, Down $25.00.
- Silver, $27.30, Down $0.73.
|
|
Good Post
Bad Post
|
|
|
|
