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Gold Friday Tape is Bullish
Daily Bars 
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Are you new to FX or curious about your trading IQ?
Commodity Analysis: Friday’s action following NFP is bullish. After the release, gold took out the previous 5 days’ lows, reversed, and closed near the high of the day and range. The near term action supports the previously presented bullish evidence. “Given sentiment as indicated by COT and the retracement of the rally from the 2/21 low stopping at the high volume day close (2/20 close in futures), a bullish bias is warranted against the 2/21 low. The counter to this is that a drop below 1555 could complete 5 waves down from 1697 and give way to a more persistent advance.”
Commodity Trading Strategy: Long against 1555, target 1650
by Brandi Brundidge
March 11, 2013
PRECIOUS METALS REMAIN FLAT DOLLAR FALLS FROM LAST WEEK’S RALLY
The Precious Metals market has experienced a dull day with little to no
movement. “
It's a real lackluster day,” HSBC Bank USA’s Chief Commodities
Analyst James Steel said. “We've had scattered buying in the Precious Metals in
general – mostly in Gold – but the gains have run into headwinds with a stronger
dollar.”
The U.S. dollar had a slight pullback as traders questioned last
week’s rally over jobs data. Strategists at Lloyds Bank in London said it is
“hard to glean anything too conclusive from the numbers, and Friday’s move looks
like a slight overreaction. So while we would not be aggressive dollar sellers,
we would look for a correction to dollar strength from here, and 83 on the [ICE]
dollar index is likely to prove difficult to break.”
Blackstone Group Chairman and CEO Steve Schwarzman confirmed on CNBC today
that the company owns the largest percentage of individual homes in the U.S.
with a $3 billion portfolio of residential real estate. Blackstone is focused on
economic growth as the housing market has been trying to recover since its 2008
crash. The company is evolving by renting out houses rather than the traditional
quick method of buying and selling. Schwarzman said, “
It's a good business for
us. It's a new thing, but it's also good for America.”
At 5:15 pm (EST), the APMEX precious metals spot prices were:
- Gold, $1582.80, Up $3.90.
- Silver, $29.01, Up $0.01.
March 11, 2013 - 05:59:29 PDT“The trade finance system has already agreed on a gold price of $7,000 to $8,000. Silver would be $150 to $200 per ounc... Read More
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rutheone1905 ( Date: 11-Mar-2013 09:43) Posted:
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bsiong ( Date: 10-Mar-2013 17:32) Posted:
Gold defies price pressure to finish higher
NEW YORK (Mar 9) Gold futures settled higher Friday, defying price pressures from a sharply higher dollar and stronger-than-expected U.S. jobs growth, with some analysts touting the metal’s perseverance as a sign of positive change in sentiment after a lackluster week and monthly declines.
“The small drop and quick recovery we saw in gold was a clear sign that gold has been oversold and has no more time for the bears,” said Jan Skoyles, head of research at The Real Asset Co. “The downturn in gold has no more to give.”
Gold for April delivery added $1.80, or 0.1%, to settle at $1,576.90 an ounce on the Comex division of the New York Mercantile Exchange. For the week, prices saw a 0.3% gain. February had marked their fifth-straight monthly loss.
‘Predicting a turn-around in gold these days is like begging the market to make you look stupid.’ -- Brien Lundin, Gold Newsletter
The precious metal finished the prior session with a minor gain of 20 cents and had been largely rangebound in recent days.
“The market interpreted today’s jobs data as being bearish for gold, and the metal initially sold off as expected,” said Brien Lundin, editor of Gold Newsletter. “The downturn failed to gain momentum, and this indicates that the selling has been exhausted.”
Still, he refused to say whether gold's “turn on a dime” Friday was the start of the a big short-covering rally he’s been expecting, pointing out that “predicting a turn-around in gold these days is like begging the market to make you look stupid.”
Job growth
The U.S. economy added 236,000 jobs in February and the unemployment rate fell to the lowest level since Dec. 2008. Economists polled by MarketWatch had expected the number of new jobs to rise by 160,000 and for the jobless rate to stay steady at 7.9%. Read: U.S. economy adds 236,000 jobs in February.
“There has been higher demand (investment as well as jewelry) in India, Asia and the rest of the world,” he said. “In India, today’s price was last seen around last October. This has resulted in greater demand.”
But not everyone was convinced that gold will be able to sustain gains.
The immediate market reaction to the payrolls data was negative, said Andrey Kryuchenkov, VTB Capital strategist, pointing out that the unemployment rate declined to 7.7% from 7.9%, “which is still far from the Fed threshold, but it is the latest macro dynamic that matters here.”
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By Geoffrey VarnerMarch 11, 2013GOLD STEADY ANNIVERSARY OF JAPAN’S DEVASTATING QUAKEGold investment demand started low Monday as the U.S. dollar showed some strength and the European market dropped on Chinese economic data and Italian worries. The Gold price has been difficult to pin down lately but analysts expect the metal to trade within a tight range of $1,560 – $1,590 this week as they look to Gold’s inverse correlation to the dollar for signs of its price movement. Societe Generale analyst Robin Bhar said, “There is a wait-and-see attitude and Gold is likely to remain range bound this week as there are no key policy announcements and the economic data is mostly second-tier.” He continues, “A lot will depend on the dollar, which the metal is likely to track in coming days.”
Today marks the second anniversary of the devastating earthquake and tsunami that rocked Japan. Ceremonies took place in the three worst hit areas and a minute of silence was observed commemorating the time the quake struck. The economic devastation of the event is overshadowed only by the physical devastation as 18,000 people were left dead or missing and the Fukushima nuclear crisis began. The economic impact has been felt around the world as the quake was one of 2011’s Black Swan events that affected the price of everything from car parts to Precious Metals.
At 9:00 am (EDT), the APMEX precious metals spot prices were:
- Gold, $1579.10, Up $0.20.
- Silver, $28.82, Down $0.18.
hi bro,
i pm u see if u receive?
bsiong ( Date: 10-Mar-2013 17:32) Posted:
Gold defies price pressure to finish higher
NEW YORK (Mar 9) Gold futures settled higher Friday, defying price pressures from a sharply higher dollar and stronger-than-expected U.S. jobs growth, with some analysts touting the metal’s perseverance as a sign of positive change in sentiment after a lackluster week and monthly declines.
“The small drop and quick recovery we saw in gold was a clear sign that gold has been oversold and has no more time for the bears,” said Jan Skoyles, head of research at The Real Asset Co. “The downturn in gold has no more to give.”
Gold for April delivery added $1.80, or 0.1%, to settle at $1,576.90 an ounce on the Comex division of the New York Mercantile Exchange. For the week, prices saw a 0.3% gain. February had marked their fifth-straight monthly loss.
‘Predicting a turn-around in gold these days is like begging the market to make you look stupid.’ -- Brien Lundin, Gold Newsletter
The precious metal finished the prior session with a minor gain of 20 cents and had been largely rangebound in recent days.
“The market interpreted today’s jobs data as being bearish for gold, and the metal initially sold off as expected,” said Brien Lundin, editor of Gold Newsletter. “The downturn failed to gain momentum, and this indicates that the selling has been exhausted.”
Still, he refused to say whether gold's “turn on a dime” Friday was the start of the a big short-covering rally he’s been expecting, pointing out that “predicting a turn-around in gold these days is like begging the market to make you look stupid.”
Job growth
The U.S. economy added 236,000 jobs in February and the unemployment rate fell to the lowest level since Dec. 2008. Economists polled by MarketWatch had expected the number of new jobs to rise by 160,000 and for the jobless rate to stay steady at 7.9%. Read: U.S. economy adds 236,000 jobs in February.
“There has been higher demand (investment as well as jewelry) in India, Asia and the rest of the world,” he said. “In India, today’s price was last seen around last October. This has resulted in greater demand.”
But not everyone was convinced that gold will be able to sustain gains.
The immediate market reaction to the payrolls data was negative, said Andrey Kryuchenkov, VTB Capital strategist, pointing out that the unemployment rate declined to 7.7% from 7.9%, “which is still far from the Fed threshold, but it is the latest macro dynamic that matters here.”
|
|
Gold defies price pressure to finish higher
NEW YORK (Mar 9) Gold futures settled higher Friday, defying price pressures from a sharply higher dollar and stronger-than-expected U.S. jobs growth, with some analysts touting the metal’s perseverance as a sign of positive change in sentiment after a lackluster week and monthly declines.
“The small drop and quick recovery we saw in gold was a clear sign that gold has been oversold and has no more time for the bears,” said Jan Skoyles, head of research at The Real Asset Co. “The downturn in gold has no more to give.”
Gold for April delivery added $1.80, or 0.1%, to settle at $1,576.90 an ounce on the Comex division of the New York Mercantile Exchange. For the week, prices saw a 0.3% gain. February had marked their fifth-straight monthly loss.
‘Predicting a turn-around in gold these days is like begging the market to make you look stupid.’ -- Brien Lundin, Gold Newsletter
The precious metal finished the prior session with a minor gain of 20 cents and had been largely rangebound in recent days.
“The market interpreted today’s jobs data as being bearish for gold, and the metal initially sold off as expected,” said Brien Lundin, editor of Gold Newsletter. “The downturn failed to gain momentum, and this indicates that the selling has been exhausted.”
Still, he refused to say whether gold's “turn on a dime” Friday was the start of the a big short-covering rally he’s been expecting, pointing out that “predicting a turn-around in gold these days is like begging the market to make you look stupid.”
Job growth
The U.S. economy added 236,000 jobs in February and the unemployment rate fell to the lowest level since Dec. 2008. Economists polled by MarketWatch had expected the number of new jobs to rise by 160,000 and for the jobless rate to stay steady at 7.9%. Read: U.S. economy adds 236,000 jobs in February.
“There has been higher demand (investment as well as jewelry) in India, Asia and the rest of the world,” he said. “In India, today’s price was last seen around last October. This has resulted in greater demand.”
But not everyone was convinced that gold will be able to sustain gains.
The immediate market reaction to the payrolls data was negative, said Andrey Kryuchenkov, VTB Capital strategist, pointing out that the unemployment rate declined to 7.7% from 7.9%, “which is still far from the Fed threshold, but it is the latest macro dynamic that matters here.”
by Nicholas Wilsey March 8, 2013
GOLD PRICES BACK TO WHERE THEY STARTED THE WEEK
This week saw some ups and downs in the Gold value. At the beginning of the week, Gold held steady as many economists questioned why Gold has not seen a higher rise based on the actions of central banks around the world. From the United States, Europe and China, the clear route has been steady monetary easing. “It seems as if accommodative monetary policies are here to stay for some time,” Lance Roberts, chief executive officer of Streettalk Advisors LLC in Houston, said. In the past, easing has supported the value of Precious Metals, and many believe it will continue to do so. Even with downward pressure being applied by strong jobs data and record equity levels, Precious Metals prices remain up slightly at Wednesday closing. As stock indexes reach all-time highs, many analysts are concerned that the recent rally has climbed too high in such a short amount of time. This fear, along with the expectation of the European Central Bank, the Bank of England, the Bank of Japan and the U.S. Federal Reserve to maintain liberal monetary easing policies, has popped Gold up today and both factors are expected to prove bullish for Gold long-term. Gold seemed poised to have a relatively uneventful week until today’s release of the February jobs report, which proved to be better than expected. The report shows 236,000 jobs added to the workforce in February, with the unemployment rate falling to 7.7 percent. The United States Federal Reserve has been very vocal regarding the correlation between their monetary easing program and the unemployment rate. With the positive jobs report, there is speculation that the Fed may start decreasing the easing and in turn cause a drop in Gold’s market value. The swift reactive drop in Gold, triggered by non-farms payroll data, was short lived. “The market interpreted today’s jobs data as being bearish for Gold, and the metal initially sold off as expected,” Gold Newsletter Editor Brien Lundin said. “But the downturn failed to gain momentum, and this indicates that the selling has been exhausted.” The lower overall Gold price in 2013 has created a strong buying opportunity for both central banks and individual investors.
BULLISH GOLD REPORTS
Investment firms continue to provide their outlook for Gold with the latest two offering similar predictions. Bank of America Merrill Lynch estimates Gold will reach $1,680 an ounce in 2013 and $1,838 an ounce in 2014. Previous estimates had Gold reaching $2,000 an ounce by Q2 2013. “After a multi-year rally, Gold prices have been range-bound for several quarters,” Michael Widmer, Bank of America Merrill Lynch’s metals strategist, said. “In our view, headwinds to Gold prices will persist in the near term.” Morgan Stanley remains bullish for the yellow metal as they suggest the current prices provide a buying opportunity for investors. Morgan Stanley Chief Metals Economist Peter Richardson said, “In these circumstances, we believe that Gold has demonstrated considerable technical strength, offers good value at current prices both as an entry level to the trading range between US$1,540/oz and US$1,800/oz and as an option on any remaining upside surprise above this range that might result from the third part of the Great Monetary Easing.” To back up these reports, the U.S. Mint released its sales totals from February, showing a year over year increase of 240 percent from February 2012 in mintage and sales of the 1 oz Gold American Eagle, the largest year over year increase in any monthly sales since the financial crisis of 2008. This followed the January year over year increase of 47 percent in mintage and sales of the same Gold coins. In a similar manner, the Mint reported an increase of 126 percent in the mintage and sales of the 1 oz Silver American Eagle, the largest year over year increase in sales during the month of February since the financial crisis in 2008. For January 2013, the increase in sales of the Silver coin was 23 percent as compared to the sales in January 2012. “The increase in sales by the United States Mint of the 1 oz Gold and Silver coins is evidence of the significant demand for the physical precious metals in the market place. According to the communications with our customers, more buyers are turning to physical Gold and Silver because of concerns over the U.S. debt and the crisis this huge debt level may bring to the U.S. economy over the next several years,” APMEX CEO Michael Haynes said.
At 5:00 pm (EDT), the APMEX precious metals spot prices were:
- Gold, $1579.90, Up $2.80.
- Silver, $29.01, Up $0.15.
by Ted Prince March 8, 2013
GOLD BACK TO EVEN FOLLOWING MORNING SELL-OFF
After an initial price dip this morning,
Gold has recovered ground lost to a reactionary sell-off triggered by strong non-farm payroll data. “The market interpreted today’s jobs data as being bearish for Gold, and the metal initially sold off as expected,” Gold Newsletter Editor Brien Lundin said. “But the downturn failed to gain momentum, and this indicates that the selling has been exhausted.” The lower overall Gold price in 2013 has created a strong buying opportunity for both central banks and individual investors.
As the jobless rate has improved to a four-year low, investors who are optimistic about the economic future have helped boost stock prices. However,
the 236,000 additional jobs is still below the target of 250,000 new hires that economic experts say are needed on a prolonged basis to improve the current unemployment rate. Quantitative easing has been activated in an effort to stimulate the lagging economy until significantly lower unemployment is realized. The Federal Reserve is currently making monthly bond purchases of $85 billion which have caused many economists to predict further weakening of the dollar. Historically, the printing of money and inflationary concerns have had very positive effects for Gold.
At 1:00 pm (EST), the APMEX precious metals spot prices were:
- Gold, $1578.70, Up $1.60.
- Silver, $29.04 Up $0.19.
March 08, 2013 - 05:24:43 PSTBut away from the headlines, gold just rocketed to a new, all-time high. Where? In Japan — the world’s fourth largest ec... Read More
By Nicholas WilseyMarch 8, 2013GOLD DROPS SWIFTLY ON JOBS REPORTThis week saw relatively flat Gold prices until today’s release of the February jobs report, which proved to be better than expected. The report shows 236,000 jobs added to the workforce in February, with the unemployment rate falling to 7.7 percent. The United States Federal Reserve has been very vocal regarding the correlation between their monetary easing program and the unemployment rate. With the positive jobs report, there is speculation that the Fed may start decreasing the easing and in turn cause a drop in Gold’s market value.
As the employment report led to an unexpected rise in stocks, it is just part of a wave of positive economic news. The stock market has rallied to pre-recession levels, both China and Japan have beaten their fourth quarter estimates on gross domestic product, and the outlook for the global marketplace has improved. “This is a uniformly strong report that’s going to be supportive of economic growth and the markets,” Alan Gayle, senior investment strategist at RidgeWorth Capital Management in Richmond, Virginia, said by telephone. His firm oversees about $48 billion. “Bull markets need care and feeding, and this is the kind of report that is a healthy dose of good news. More jobs mean more income, which means more spending.”
At 9:00 am (EDT), the APMEX precious metals spot prices were:
- Gold, $1566.80, Down $10.30.
- Silver, $28.56, Down $0.30.
Gold Range Tightens Up Before NFP
Daily Bars 
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Commodity Analysis: No change: “Given sentiment as indicated by COT and the retracement of the rally from the 2/21 low stopping at the high volume day close (2/20 close in futures), a bullish bias is warranted against the 2/21 low. The counter to this is that a drop below 1555 could complete 5 waves down from 1697 and give way to a more persistent advance.”
Commodity Trading Strategy: Long against 1555, target 1650
LEVELS: 1523 1555 1576 1620 1639 1652
by Brandi Brundidge
March 7, 2013
GOLD CONQUERS DEVALUED CURRENCIES
The recent drop in the Gold price on positive U.S. economic data has created
a buying opportunity for some investors, while others have turned to riskier
assets.
What the market does not know is that, abroad, Gold is currently
at an all time high, as many countries are flocking to Gold in place of their
devaluing currencies. Japan, Brazil, Iceland and India are a few of the
nations where citizens have begun purchasing the yellow metal to hedge against
inflation. Japan, the world’s fourth largest economy, began the year with a new
government that, for the first time ever, initiated monetary easing. Last July,
an ounce of Gold sold for 125,000 yen and today sells for 145,000 yen. Overall,
Gold has soared by 36 percent in yen in the past two years. In that same time
period, the price of an ounce of Gold in Argentina has increased by 45 percent,
hitting record highs. The day to day prices for Gold has had the market’s focus
recently, but why are we not paying attention to who is buying Gold? Why are
they purchasing, and what do they know that we don’t?
First-time jobless claims fell by 7,000 to 340,000 for the week ending March
2. The Labor Department reported the drop drove the monthly average to a
five-year low. The Bloomberg Consumer Comfort Index showed improvement for the
fifth consecutive week as Americans continue to have a positive economic
outlook. “Businesses have, at least so far, shrugged off the effect of the tax
increases and the spending cuts and they’re hiring,” Mark Zandi, chief economist
at Moody’s Analytics Inc. and the top jobless claims forecaster, according to
data compiled by Bloomberg, said. “
Job growth is actually improved. That’s on top of record high
stock prices, surging housing values and even, in the last couple weeks, gas
prices that have started to decline.”
At 5:15 p.m. (EST), the APMEX precious metals spot prices were:
- Gold, $1,579.60, Up $2.70.
- Silver, $28.91, Up $0.06.
by Geoffrey Varner March 7, 2013
GOLD HOLDS ON TO GAINS US MINT GOLD EAGLE SALES UP 240%
The Gold price has been trading in a tight range most of the week but speculation that central banks will continue loose monetary policy, or quantitative easing, has kept a floor under prices. Quantitative easing has been a boon for Gold in recent years by pressuring long-term interest rates and supporting fears of inflation.
Eugen Weinberg, head of commodities research at Commerzbank, said, “Gold as inflation protection should get more demand from investors in the second half of the year. Right now, the market participants are looking for more yield and they're finding it in other asset classes like equities.” He also said that investors aren’t really looking for safe havens right now.
The United States Mint completed the month of February 2013 with a year over year increase from February 2012 in mintage and sales of the 1 oz Gold American Eagle of 240%, the largest year over year increase in any monthly sales since the financial crisis of 2008. This increase followed the January year over year increase of 47% in mintage and sales of the same Gold coins. In a similar manner, the United States Mint reported an increase in the mintage and sales of the 1 oz Silver American Eagle for February 2013 over February 2012 of 126%, the largest increase in sales during the month of February over the same month for the previous year since the financial crisis in 2008. For January 2013, the increase in sales of the Silver coin was 23% as compared to the sales in January 2012. “The increase in sales by the United States Mint of the 1 oz Gold and Silver coins is evidence of the significant demand for the physical precious metals in the market place. According to the communications with our customers, more buyers are turning to physical Gold and Silver because of concerns over the U.S. Debt and the crisis this huge debt level may bring to the U.S. Economy over the next several years,” stated Michael Haynes, CEO of APMEX.
At 9:08 a.m. (EST), the APMEX precious metals spot prices were:
- Gold, $1,585.00, Up $8.10.
- Silver, $29.09, Up $0.24.
March 06, 2013 - 11:40:22 PST
The Chinese & Russians will show the way, with a hidden German hand, as the trade settlement is to be conducted with...
read more
March 06, 2013 - 07:09:53 PST
Despite the recent wild trading action in gold, silver, & oil, today top Citi analyst Fitzpatrick issued a bullish c...
read more
March 06, 2013 - 16:50:03 PST
Silver Wheaton's Randy Smallwood discusses the outlook for the metals market
read more
Gold Trades Within March 1 Range for 3rd Day
Daily Bars 
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Are you new to FX or curious about your trading IQ?
Commodity Analysis: No change: “Given sentiment as indicated by COT and the retracement of the rally from the 2/21 low stopping at the high volume day close (2/20 close in futures), a bullish bias is warranted against the 2/21 low. The counter to this is that a drop below 1555 could complete 5 waves down from 1697 and give way to a more persistent advance.”
Commodity Trading Strategy: Long against 1555, target 1650
LEVELS: 1523 1555 1576 1620 1639 1652
