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Gold & metals

2013

by Ted Prince March 6, 2013

CENTRAL BANK GOLD BUYING CURBS DOWNWARD PRESSURE AS EQUITIES RISE

Even with downward pressure being applied by strong jobs data and record equity levels, Precious Metals prices remain up slightly as we reach the close of today’s session. As stock indexes reach all-time highs, many analysts are concerned that the recent market rally has climbed much 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 have propped up Gold today and are expected to prove bullish for Gold long-term.

As the Dow Jones Industrial Average adds to its record level, the S& P 500 is also up today as signs indicate economic growth in sectors that have been, up until recently, slow to recover. “The market’s responding to some degree to fundamentals,” said Stephen Wood, chief market strategist for North America at Russell Investments. “The economy is growing, albeit at a frustrating pace,” he said. “We’re seeing housing begin to contribute rather significantly to the economy.” The Federal Reserve’s quantitative easing policy has been the primary factor propelling equities markets forward. It has also been historically supportive of Precious Metals. As economic experts do not expect a cessation to the Fed’s current stimulus program in the near future, investors should continue to seek out a hedge against currency devaluation by purchasing Gold and Silver.

At 4:07 p.m. (EST), the APMEX Precious Metals spot prices were:

Gold, $1,585.30, Up $8.40.
Silver, $29.08, Up $0.43.

Closing Gold & Silver Market Report – 3/5/2013

by Craig C. Calvin March 5, 2013

GOLD ENDS HIGHER AS DOLLAR WEAKENS ANALYSTS PREDICT MARKET DROP

As investors focused on Wall Street’s rally, the pullback of the dollar helped the Gold price rise in afternoon trading. Although equities market gains usually pull money away from assets such as Gold, such was not the case today. According to one Precious Metals analyst, “It appears that the daily trading of Gold is almost exclusively risk on/risk off. Today with the Dow hitting all-time highs, it is risk on.” The analyst went on to say, “It is hard to imagine that the stock market has much further to go, especially where the economy is today versus where it was in 2007 when it hit its previous all-time high. Unfortunately, for the individual investor, they are seeing the Dow at all-time highs and are trying to chase the stock market instead of properly diversifying.”

Although today was a record day as the Dow Jones Industrial Average hit its highest point since October 2007, some analysts are warning that today’s bull market will soon subside. Market analysis by investment bank and asset management firm Piper Jaffray suggests that a market retreat is in the near future. As part of the analysis, Leah Williams and Craig W. Johnson stated, “We now believe we are at the first of three market pivot points this year and suspect a drop is now likely to unfold over the next several months.” Meanwhile, the latest survey by the American Association of Individual Investors shows the largest decline in bullish views among investors in almost two and a half years.

At 5:00 p.m. (EST), the APMEX precious metals spot prices were:

Gold, $ 1,577.10, Down $0.10.
Silver, $ 28.71, Up $ 0.06.

Morning Gold & Silver Market Report – 3/6/2013

By Nicholas WilseyMarch 6, 2013

GOLD MOVES UP ON PHYSICAL DEMAND, EASING TALK

Gold has started the day moving upwards based on physical buying from Asia and from talk of stimulus from around the globe. Central banks in Europe and Japan are meeting this week and all signs point to their continuance of aggressive monetary easing programs. These easing programs have given support to the Precious Metals market, and it is believed by many economists that they will continue to do so. In the United States, there is another storyline with a more positive economic tone. “The U.S. government is beginning to return to long-term fiscal sustainability and this is something which potentially undermines the rationale for holding Gold,” said Nic Brown, head of commodity research at Natixis. Gold has been caught between global economic struggles and U.S. improvement, which has left the yellow metal relatively flat.

In Europe, the headlines remain centered on the failed election in Italy and how it will affect the European Union moving forward. This week the leaders of the E.U. will meet for the first time since the election, and investors are keeping a close eye on the proceedings. “Investors are cautious about the euro before the ECB meeting tomorrow, and there is always the risk that eurozone GDP could be revised downwards today and feed into fears that [ECB President Mario Draghi] may strike a dovish stance,” said Jeremy Stretch, head of currency strategy at CIBC World Markets. If the leaders at the meeting give a downgraded outlook on the union’s economy, it could give way to more monetary easing to assist the struggling region.

At 9:00 am (EDT), the APMEX precious metals spot prices were:

Gold, $1578.90, Up $2.00.
Silver, $29.82, Up $0.17.

MORGAN STANLEY PROVIDES BULLISH FORECAST FOR GOLD

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,” said Michael Widmer, Bank of America Merrill Lynch’s metals strategist. “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.”

March 05, 2013 - 07:46:45 PST

The Dow Is Nowhere Near Its All-Time High...Priced In Gold

The Dow Jones Industrial Average just hit its nominal all-time high. The blue line is the Dow priced in gold. read more

Gold Continues to Consolidate at Bottom of Range

Daily Bars eliottWaves_gold_body_gold.png, Gold Continues to Consolidate at Bottom of Range

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

Closing Gold & Silver Market Report – 3/5/2013

by Craig C. Calvin March 5, 2013

GOLD ENDS HIGHER AS DOLLAR WEAKENS ANALYSTS PREDICT MARKET DROP

As investors focused on Wall Street’s rally, the pullback of the dollar helped the Gold price rise in afternoon trading. Although equities market gains usually pull money away from assets such as Gold, such was not the case today. According to one Precious Metals analyst, “It appears that the daily trading of Gold is almost exclusively risk on/risk off. Today with the Dow hitting all-time highs, it is risk on.” The analyst went on to say, “It is hard to imagine that the stock market has much further to go, especially where the economy is today versus where it was in 2007 when it hit its previous all-time high. Unfortunately, for the individual investor, they are seeing the Dow at all-time highs and are trying to chase the stock market instead of properly diversifying.”

Although today was a record day as the Dow Jones Industrial Average hit its highest point since October 2007, some analysts are warning that today’s bull market will soon subside. Market analysis by investment bank and asset management firm Piper Jaffray suggests that a market retreat is in the near future. As part of the analysis, Leah Williams and Craig W. Johnson stated, “We now believe we are at the first of three market pivot points this year and suspect a drop is now likely to unfold over the next several months.” Meanwhile, the latest survey by the American Association of Individual Investors shows the largest decline in bullish views among investors in almost two and a half years.

At 5:00 p.m. (EST), the APMEX precious metals spot prices were:

Gold, $ 1,577.10, Down $0.10.
Silver, $ 28.71, Up $ 0.06.

Morning Gold & Silver Market Report – 3/5/2013

by Ryan Schwimmer March 5, 2013

MONETARY POLICY TALK DRIVES PRICES

Precious Metals prices are rising this morning with the Silver price taking the lead at a jump of almost two percent. The possibility of further monetary easing is driving prices after Federal Reserve Chairman Ben Bernanke’s comments last week. Mitsui Precious Metals analyst David Jollie said, “The Fed and its monetary policy actions are still the biggest issue day-to-day in the Gold market, but you can see more discussion also about the possibility of looser monetary policy in Japan, or within Europe, or elsewhere. There's more of a realization that economic growth is not yet at a level that any country is happy with, and that therefore we could see further easing.”

U.S. stocks are also looking to gain this morning after overseas markets moved higher in overnight trading. Peter Cardillo of Rockwell Global Capital explained that the factors improving the picture for stocks are better growth forecasts and a stock rebound in China and news that Cyprus will be bailed out by the eurozone. This has lead to a weaker dollar, which is also improving the picture for the Gold and Silver prices.

At 9:16 a.m. (EST), the APMEX Precious Metals spot prices were:

Gold, $1,584.60, Up $10.20.
Silver, $29.04, Up $0.51.

Gold 2 Day Drop Presents Long Opportunity

Daily Bars eliottWaves_gold_body_gold.png, Gold 2 Day Drop Presents Long Opportunity

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

Commodity Analysis: 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

March 05, 2013 - 05:34:16 PST

The Roadmap To $4,866 Gold Within 2 Years

Our guess would be June of 2013 at $2,603.37 (spike 6) and January of 2015 at $4,865.73 (spike 7). So, should you be su... Read More

March 05, 2013 - 05:46:54 PST

Gold Rises First Time In 5 Days On Stimulus - Silver Gains

“The speech that we had from Yellen reassured the market that the end of quantitative easing is a long way off,” “We’re... Read More

March 05, 2013 - 05:21:33 PST

MORGAN STANLEY: The Gold Bull Market Isn't Over, And The Reasons To Own It Are 'Evolving'

In the past, these periods of particularly strong and close correlation with the USD have proven to be consolidation pha... Read More

March 04, 2013 - 15:37:15 PST

Silver Prices Are About To Explode!

The big question is not whether the silver price today will rise, but what happens long-term. Perhaps the price explosio... Read More

Celente - Gold, Silver & The Frightening Â“Next Great TrendÂ”

March 04, 2013 - 14:38:26 PST

Celente - Gold, Silver & The Frightening “Next Great Trend”

The only thing that’s keeping this thing going is the central banks in Japan, China, Europe, United States, printing all... Read More

Closing Gold & Silver Market Report – 3/4/2013

by Brandi Brundidge March 4, 2013

GOLD HOLDS STEADY AS INVESTORS PONDER ‘SEQUESTER’

Precious Metals prices have been stable for the day as U.S. equities and economic signals remained flat. Ahead of U.S. government budget cuts, investors have been patiently waiting on the sidelines for any real agreement between the two political parties. The market still views Gold as a traditional asset during uncertain fiscal times, especially as a hedge against inflation. The European Central Bank plans to meet Thursday, but analyst suggest no real changes will be made to the interest rate policy and that a push for further easing is possible. The euro was slightly down throughout the weekend with negative manufacturing and employment data from Europe.

More than 70 percent of the 196 economists surveyed in the National Association for Business Economics’ poll are against the full implementation of $85 billion in federal cuts known as the “sequester.” According to the economists surveyed, politicians should instead plan to reduce the budget deficit over the next 10 years. “A significant majority of panelists was opposed to full budget sequestration,” NABE policy survey committee chairman Jay Bryson said in a statement. “However, there was nearly unanimous agreement that some form of deficit reduction should be enacted over the next 10 years,” said Bryson, who is also a senior economist at Wells Fargo Securities.

At 5 pm (EST), the APMEX precious metals spot prices were:

Gold, $1,575.00, Up $0.70.
Silver, $28.58, Up $0.06.

Mid-Day Gold & Silver Market Report – 3/4/2013

by Nicholas Wilsey March 4, 2013

GOLD PRICE STAYS FLAT AS STIMULUS CONTINUES

As Monday reaches its midway point, Gold’s market value has held steady. Many economists are questioning why Gold has not seen a higher rise in value based on the actions of many leading central banks around the world. From the United States, Europe and China the clear route has been a steady feed of monetary easing into their respected economies. “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, such easing has given positive support to the value of Precious Metals, and many believe it will continue to do so.

In the U.S., some members of the Federal Reserve have been very vocal in their support of continuing monetary easing. “At present, I view the balance of risks as still calling for a highly accommodative monetary policy to support a stronger recovery and more rapid growth in employment,” Federal Reserve Vice Chair Janet Yellen said Monday in a speech to the National Association for Business Economics. Between the easing program and the major budget issues in the U.S. government, many investors are left looking for stability.

At 1:02 pm (EDT), the APMEX precious metals spot prices were:

Gold, $1575.30, Up $1.00.
Silver, $28.59, Up $0.08.

Very soon Chinese Yuan might replace the US dollar as the reserve currency for international trade, unless there are no downgrade for the US that usually sparks worry in using the dollar. The budget cut or the austerity drive could have saved the US from the problem or who knows the opposite is true and then it could hasten the move by international state banks to make a switch slowly or quickly?

Morning Gold & Silver Market Report – 3/04/2013

By Geoffrey VarnerMarch 4, 2013

GOLD REACTS TO POOR EUROPEAN TRADING, U.S. SPENDING CUT REALITY

All three major indexes are poised to start lower this morning. Mainland Chinese stocks tumbled after Beijing announced new property buying restrictions. Those restrictions included higher down payments and mortgage rates on second homes in cities that have seen increases in property prices. There has also been an imposed 20 percent capital gains tax on sales of existing homes. In the U.S., automatic spending cuts begin on Friday as politicians remain inflexible. Kit Juckes, head of foreign exchange at Société Générale, said something that others may be feeling, “I can’t get away from the sense that U.S. political protagonists quite like the idea of some fiscal tightening that they can blame on ‘the other guys.’”

The Gold price recovered in overnight trading and is set to start Monday moving up. Uncertainty in Europe over the political deadlock in Italy following that country’s inconclusive election caused the euro to hit session lows. The correlation between Gold and European stock markets turned negative last month. The dropping prices present a buying opportunity for investors both here and around the world. Physical buying in Asia has picked up, especially in China, due to the recent weakness in prices.

At 9:02 a.m. (EST), the APMEX Precious Metals spot prices were:

Gold, $1,579.00, Up $4.70.
Silver, $28.65, Up $0.14.

KWN - Special Friday Gold ‘Chart Mania’

March 1, 2013

With the wild recent trading action in gold and silver, top Citi analyst Tom Fitzpatrick put together 7 fantastic gold charts where he laid out the explosive roadmap for gold going forward. Fitzpatrick believes that his call for a doubling of the gold price from current levels may now prove to be...