GLD USD
Last:311.18
+1.28
Gold & metals
Post Reply
801-820 of 4402
Gold Triangle from February Looking More Likely
Daily Bars 
Chart Prepared by Jamie Saettele, CMT
Commodity Analysis: Recent commentary was that “1585 remains support and failure to hold 1585 could spell trouble (a run at the lows). Consider the possibility of a triangle (probably bearish) forming since the February low. The triangle pattern would ‘fit’ with gold’s quiet trading in recent weeks.” Today’s sharp drop could be part of a triangle…or something more immediately bearish. Even if gold consolidates for a few more weeks in order to complete a triangle, the resolution is probably lower.
Commodity Trading Strategy: Flat
LEVELS: 1500 1522 1555 1593 1620 1640
By Ryan SchwimmerApril 2, 2013GOLD WAITING FOR CATALYSTPrecious Metals have fallen this morning after better-than-expected data out of the eurozone was released. Another factor that is weighing on Precious Metals is upcoming policy meetings in Japan and the eurozone, with investors cautious of making big decisions before those events. Saxo Bank senior manager Ole Hansen said, “Gold has found the support it needs but at the same has not really found the catalyst to take it out of the range we have seen for few weeks and weaker data haven't made any impact this morning as key macro events are still to come later in the week. Going forward into the second quarter, there seems to be a much better balance for Gold to react to economic data after speculative positions have been much reduced and exchange-traded products saw record outflows.”
The situation in Cyprus is still weighing heavily on investors’ minds. Though it has seemed to have been pushed to the backburner, 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.”
At 9:13 a.m. (EDT), the APMEX Precious Metals spot prices were:
- Gold, $1,586.90, Down $15.00.
- Silver, $27.75, Down $0.28.
by Brandi Brundidge
April 1, 2013
GOLD SEARCHES FOR SUPPORT ANALYSTS PROVE FED’S QE IS DEVALUING DOLLAR
After the holiday weekend, Gold continues to trade in a confined range after
the market received mixed U.S. economic data today. Investors are moving on to
the next round of reports such as Wednesday’s private payroll jobs report and
the Bureau of Labor Statistic’s nonfarm payrolls on Friday. “I think if we see
any kind of tick up -- if we go 7.8 percent [unemployment rate] or even jump up
two handles to 7.9 percent if you see that jobs number come out in the 150
[thousand added to nonfarm payrolls] something real low like a big miss . . .
Gold prices will probably break out to the upside,” Phil
Streible, senior commodities broker at RJO Futures, said in an interview.
In the recently issued San Francisco Federal Reserve Bank’s Economic Letter,
researchers confirmed what many investors believe in regards to quantitative
easing lowering the value of the U.S. dollar. Since 2008, the Federal Reserve
has embarked on three quantitative easing programs to promote growth and
stability for the U.S. economy. Its most recent bond buying program focuses on
mortgage-backed securities and Treasuries with a purchase amount of $85 billion
per month. “
We find
that a quantitative easing surprise equivalent to a 1 percentage-point decrease
in federal funds rate future leads to a 0.5 percentage-point depreciation in the
dollar. The size of this effect is comparable with the 0.7 percentage point
depreciation following surprise movements in the federal funds rate before the
financial crisis,” wrote Reuven Glick, group vice president of research at the
San Francisco Fed, and Sylvain Leduc, a vice president in the San Francisco
Fed’s research department.
At 5:15 p.m. (EDT), the APMEX Precious Metals spot prices were:
- Gold, $1,600.70, Up $4.00.
- Silver, $28.05, Down $0.35.
by Ted Prince April 1, 2013
WEAK ISM REPORTS LIFT GOLD AS STOCKS FALL
Weaker-than-expected manufacturing data has put downward pressure on the
dollar today causing a mild lift in the Gold price.
The Index for Supply Management (ISM) reflected a significant
slowing of U.S. manufacturing expansion for the month of March. From a level
of 54.2 percent in February, the index slipped to 51.3 percent last month,
surprising economists who expected ISM levels to stay the same. The negative
news about sluggish domestic manufacturing comes amid a climate of 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 policy of quantitative easing, which
analysts forecast as a strong bullish factor for the long-term appeal of
Gold.
Feeble ISM manufacturing reports have pulled down the S& P 500
and Dow Jones Industrial Average from record closing highs last session,
though some experts are dubious regarding the real gravity of the data. “The ISM
number is being misinterpreted, it is probably some misunderstanding about what
the number really means - the headline doesn't look great, when in fact it is
good,” said Tim Ghriskey, chief investment officer of Solaris Group. “It looks
to us like this is some profit-taking after a very strong finish to the
quarter.” Many investors were predicting a market dip as end of quarter profit
taking coupled with market uncertainty surrounding continued economic turmoil in
Cyprus. With the continuation of aggressive monetary easing and fear of market
volatility, many view Gold and other Precious Metals as a safe investment refuge
to protect against dollar devaluation and the insecurity of stocks and other
higher risk assets.
At 1:16 p.m. (EDT), the APMEX Precious Metals spot prices were:
- Gold, $1,602.00, Up $5.30.
- Silver, $28.08, Down $0.32.
by Geoffrey Varner
April 1, 2013
MARKETS UP AHEAD OF KEY DATA
Investors will be watching to see how this morning’s manufacturing and other
data will affect the two major U.S. stock indexes, which have been pushing
record highs nearly every day. ISM manufacturing survey data from March is due
out today and is expected to show a fourth consecutive month of improvement. The
weeks’ worth of data ends on Friday with the U.S. jobs report from March.
Adam Sarhan, chief executive of Sarhan Capital, said, “It is
very important for us to not only look at the actual data, but see how the
market reacts to the data.”
The Gold price has stabilized in the $1,600 range as signs that China’s
economic recovery is gaining momentum.
Chinese economic stability could increase demand for commodities,
however prices could be capped by the debt crisis that is still ongoing in
Cyprus. Korean tension has yet to tip off any buying of Gold, but a
full-scale conflict would almost certainly boost Gold’s safe haven appeal. Brian
Lan, managing director of GoldSilver Central Pte Ltd., said, “We are in an
uncertain market. Normally a strong PMI data from China would tend to draw
investors towards stocks and not support Gold prices, but this time we see a
reverse. The North Korea tension is adding to the market uncertainty. We see
physical buying by the retail investors during price dips and this helped to
support prices, which should go up above $1,600. If everything goes well, it
seems like Gold could move on to a higher trading range. Gold should test
$1,620.”
At 9:30 a.m. (EDT), the APMEX Precious Metals spot prices were:
- Gold, $1,598.70, Up $2.00.
- Silver, $28.02, Down $0.38.
Gold rises on China PMI data flirts with $1,600
SINGAPORE (Apr 1) Gold firmed on Monday, as signs that China's economic recovery was gaining traction could boost demand for commodities, but prices could be capped by worries about the debt crisis in Cyprus and the weakness of the euro versus the U.S. dollar.
Tension in the Korean peninsula has yet to trigger a rush in purchases from investors in Asia, but a full-scale conflict between the two Koreas could potentially boost gold's safe-haven appeal in times of uncertainty.
Gold hit an intraday high of $1,600.81 an ounce and stood at $1,597.76 by 0647 GMT, up $1.59. The precious metal ended the quarter down around 4 percent after stock markets surged and the euro stayed weak against the dollar.
Gold rallied to a 1-month high in March on concerns about fiscal stability in Europe after the European Union gave Cyprus an ultimatum to raise billions of euros it needs to clinch a bailout deal or face a likely exit from the currency zone.
" We are in an uncertain market. Normally a strong PMI data from China would tend to draw investors towards stocks and not support gold prices, but this time we see a reverse. The North Korea tension is adding to the market uncertainty," said Brian Lan, managing director of GoldSilver Central Pte Ltd.
" We see physical buying by the retail investors during price dips and this helped to support prices, which should go up above $1,600. If everything goes well, it seems like gold could move on to a higher trading range. Gold should test $1,620."
Premiums for gold bars were largely unchanged in Singapore at 1.20 to $1.50 to the spot prices in London.
Stronger domestic demand helped China's factory activity to rebound in March, with new orders up sharply in a sign the underlying economic recovery is strong enough to weather any risks from patchy export performance, surveys showed on Monday.
Tokyo gold futures < 0#JAU:> gave up early gains and investors closely watched developments on the Korean peninsula after South Korean President said the country would strike back if the North stages any attack on its territory.
Tensions have been high since the North's young new leader, Kim Jong-un, ordered a nuclear weapons test in February, breaching U.N. sanctions and ignoring warnings from North Korea's closest ally, China, not to do so.
" There was some early buying on TOCOM. It may be related to Korea, but nobody talks about it here," said a dealer in Tokyo. " Some places are still closed for holidays, so the market is quiet and the volume is thin, which exaggerates movements."
The euro slipped to approach a four-month low on concerns about the spillover from Cyprus' bailout terms, while the Australian dollar was tripped up after data showed a slower than expected rebound in Chinese factory activity in March.
Financial markets in Australia, Hong Kong and Europe are still closed for Easter holidays.
U.S. gold futures for June were at $1,598.40 an ounce, up $2.70.
Gold Remains Confined to Monday’s Range
Daily Bars 
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Commodity Analysis: Gold is nearing its first big test since longs were established in late February. 1620/25 might trigger a reaction (although I’d expect it to be minor). Stronger resistance is probably 1639-1652, which are former pivots that intersect trendlines starting next week. 1585 remains support and failure to hold 1585 could spell trouble (a run at the lows).
Commodity Trading Strategy: Been sitting long since 2/28. This market is doing nothing but keeping the stop at 1585 (better than breakeven) just in case.
LEVELS: 1555 1576 1585 1620 1639 1652
by Brandi Brundidge March 28, 2013
GOLD SLIDES BELOW SUPPORTED LEVELS
Gold lost its momentum today, dipping just below its support price of $1,600 on the last trading day of the quarter. The safe haven appeal has disappeared for the moment as expected protesting in Cyprus over the reopening of their banks did not occur. “Prices are likely to stay depressed in coming sessions as the situation in Cyprus is expected to slowly get better,” Canaccord Genuity analyst Dmitry Kalachev said. “But the downside may be temporary and although risks of contagion from Cyprus are limited, uncertainty remains around other periphery countries in the eurozone.”
U.S. stocks rose as investors moved into equities in preparation of the first quarter ending. “
A close over 1,565 today on the S& P 500 will surely get the media excited. It will probably get more people to move their S& P targets higher and the talk will be 1,600 is a ‘piece of cake.’ Since when was predicting the market over the short term like a walk in the park?” Stifel Nicolaus & Company’s Market Strategist Elliot Spar said. Stocks have performed well recently with major issues such as the presidential election, fiscal cliff panic and continued eurozone financial troubles all mostly out of the spotlight.
At 5:05 p.m. (EDT), the APMEX Precious Metals spot prices were:
- Gold, $1,598.10, Down $10.10.
- Silver, $28.40, Down $0.29.
By Geoffrey VarnerMarch 28, 2013CYPRUS BANKS REOPEN, GOLD HOLDS STEADYAfter nearly two weeks, Cyprus’ banks reopened today with strict limits on cash withdrawal amount. Early information is that the limits are working and there have been few, if any, signs of panic. Today’s reopening has had little impact on the markets, with the euro moving up just slightly against the dollar. Any positive news is welcome as the region’s shared currency is on pace for a 2.8 percent first quarter decline. Although the euro has recently lost ground, Steve Barrow, currency strategist at Standard Bank in London, said, “it’s hardly a collapse in spite of the Cypriot tumult.”
The Gold price has held its ground as the Cyprus bank drama has unfolded. Unlike the euro, Gold is on pace for a 1.3 percent gain this month, its first monthly gain in six months. Eurozone instability fueled primarily by the Cyprus crisis and political tension in Italy has put pressure on investors. Credit Suisse global head of commodity research Tobias Merath said, “With the Cyprus crisis unfolding we have seen Gold crossing back above $1,600 but we haven't tested the key technical resistance level at $1,620 as there wasn't strong safe-haven inflows buying.” Gold gained additional support from Federal Reserve comments reiterating its $85 billion per month asset buying program would continue until the U.S. job market was on firmer ground. This type of money printing stokes inflation fears and tends to boost Gold sales.
At 9:06 a.m. (EDT), the APMEX Precious Metals spot prices were:
- Gold, $1,600.40, Down $8.30.
- Silver, $28.56, Down $0.14.
Last Updated : 28 March 2013 at 10:50 IST
Why Gold will continue to rally, but not too far
MUMBAI (Commodity Online): Easter holidays are all set to affect investment demand for gold as many a investor would recline to their respective chairs at their favourite corner in the house or go to their nearby church. This would definitely see trade volumes plunge in the markets and liquidity tide retreating. Still, a rally in gold cannot be ruled out for the medium term at least.
Reasons galore two of them worth mentioning: The Cyprus banks would re-open today after almost a fortnight. Needless to say, people would be flocking to their banks to withdraw whatever they can. Capital controls would prevent the ordinary Cypriots from withdrawing more than 300 Euros on a daily basis. They will also not be able to transfer accounts to foreign destinations with full firepower as there would be restrictions. The lengthening queues in front of ATMs captured by television cameras are likely to have a psychological impact on Eurozone economies.
This would form the first reason that would see gold again becoming a hot commodity as it would rally forth. The portrait may not spark Eurozone bank runs today or tomorrow. But Cyprus's crisis has shown that there are faultlines running deep in Eurozone that can have a seismic effect on markets.
The other reason that may take gold higher is the relative maturity that stock markets have assumed. The US Dow and S& P 500 indices are near record highs and the bull run, all through the way has been scooping money thereby crowding out bullion rallies.
This bull run in stock markets cannot continue for ever especially in the backdrop of an uncertain economic ambience and safe haven demand persisting. And the equity rally having assumed decent highs would find itself psychologically inclined not to chart further highs. Too long a long is short!
“One very early clue that the stock market bulls are running out of steam is price action in the U.S. Treasury bond and note futures Wednesday. Both markets posted solid rallies, with U.S. T-Notes hitting a fresh 3.5-month high. This suggests fresh flight-to-safety buying by investors (including into gold), which will pull way demand for risk assets like stocks.” writes Jim Wyckoff in Kitco News.
But it should also be taken into account that US Dollar Index is rallying. It hit a fresh 7.5 month high on Wednesday. “The U.S. dollar bulls hold the solid overall technical advantage, which is still an underlying bearish factor for the gold and silver markets.” Wyckoff says.
When the treasuries and USD are in a tango, chances are more that gold would find it difficlut to go too far for too long a time. At least that is what we can gather now.
March 27, 2013 - 06:18:54 PDT
an entire class of investors that control a huge pool of money, $27 trillion plus worldwide, central banks debasing majo...
read more
March 27, 2013 - 14:43:08 PDT
Don't be surprised when the global elite confiscate money from your bank account one day. They are already very clearly...
read more
Gold Has Retraced Most of Monday’s Decline
Daily Bars 
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Commodity Analysis: Gold is nearing its first big test since longs were established in late February. 1620/25 might trigger a reaction (although I’d expect it to be minor). Stronger resistance is probably 1639-1652, which are former pivots that intersect trendlines starting next week. 1585 remains support.
Commodity Trading Strategy: Long against 1575, target is 1650
LEVELS: 1555 1576 1585 1620 1639 1652
by Ted Prince March 27, 2013
GOLD UP PLATINUM, PALLADIUM LOOK TO RALLY
After four straight sessions of losses,
Gold is up today as the safe haven appeal of Precious Metals is
currently resonating with investors. “Gold looked attractive today as a
safe-haven asset in reaction to the decline in equity markets and in
anticipation of Cypriot banks reopening on Thursday,” Global Hunter Securities’
Managing Director Jeffrey Wright said. As Gold remains relatively range bound,
the increasing strength of the U.S. economy has caused many analysts to predict
a rising demand for industrial metals, which could be good for Platinum and
Palladium.
Stocks have expunged earlier losses today as the
S& P 500 has pulled back within 2 points of its all time
high. Morning concern over the European debt crisis and its current focal
point, Cyprus, has eased as many experts are predicting further upward movement.
“When you have typically light days, the market can get pushed around a little
bit more on nothing,” NorthCoast Asset Management LLC’s Head Trader Frank
Ingarra said. So far, Cyprus has been instrumental in mild market shifts for
both equities and Precious Metals. Many investors await Thursday’s re-opening of
Cypriot banks to see what allocation strategy to take in the coming days and
weeks.
At 5:00 pm (EDT), the APMEX precious metals spot prices were:
- Gold, $1606.90, Up $8.70.
- Silver, $28.71, Down $0.05.
by Ryan Schwimmer
March 27, 2013
GOLD REGAINS $1,600 ON EURO WORRIES
Gold is looking to reclaim the $1,600 level this morning thanks to worries in
the eurozone, though it is
fighting a battle with upbeat U.S. economic data, as home
prices and durable goods have improved. Dominic Schnider of UBS Wealth
Management said, “When we get into the second half of the year, there will be
growth and there will also be price pressure, which should give Gold stimulus
towards $1,800 an ounce.”
The terms of the recent European Union bailout of Cyprus have caused some
analysts to predict harder times ahead for the eurozone. Matthew Lynn of
Marketwatch said, “
The euro aimed to be a global reserve currency to rival the
dollar. It was making some progress towards that. For example, 42 [percent]
of Russian reserves were held in euros, and they are the fourth largest in the
world. They won’t be staying there. Spain is already proposing a 0.2 [percent]
levy on bank accounts. Others may well follow. Becoming a global reserve
currency was meant to be one of the key benefits of creating the euro — there is
no chance of that now. Instead, funds will flow out, hitting the currency, and
more importantly damaging investment.”
At 9 a.m. (EDT), the APMEX Precious Metals spot prices were:
- Gold, $1,600.40, Up $2.20.
- Silver, $28.41, Down $0.35.
Gold Maintains Contructive Bias
Daily Bars 
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Commodity Analysis: Gold is nearing its first big test since longs were established in late February. 1620/25 might trigger a reaction (although I’d expect it to be minor). Stronger resistance is probably 1639-1652, which are former pivots that intersect trendlines starting next week. 1585 remains support.
Commodity Trading Strategy: Move risk up on longs to 1575, target still 1650.
LEVELS: 1555 1576 1585 1620 1639 1652
March 26, 2013 - 16:02:06 PDT
" The catalyst for a spike into the $2,500 to $3,000 price range for gold will be an announcement by China, probably in l...
read more
March 26, 2013 - 13:37:36 PDT
BRICS members China & Brazil agreed on Tuesday to use their own currencies in bilateral trade in a deal that will co...
read more
