The Certified Gold & Silver Enthusiast

• These Natural Gas Plays Are Starting to Heat Up
  If the U.S. has any hope of achieving energy independence, our most viable alternative in weaning ourselves off foreign oil supplies is to tap into natural gas. And while this isn’t the calmest market for investors, today I’m sharing several different ways to play this barely tapped segment, including two stock picks. Regards, Kevin P.S. [...]
• Silver price basing before dramatic move higher
  As if the world didn’t have enough to worry about already, news of an Iranian mob attacking the British embassy in Tehran has reminded people of the inherent political fragility of the Middle …
• Construction of new Conga Mine in Peru halted
  Yesterday protests against the construction of the Conga mine in Peru turned violent. More than 10 people were seriously injured during street fights and arson attacks. Protesters occupied the …
• Technical Analysis for Precious Metals
  Gold continued its upside recovery which started at 1665.00 touching 38.2% Fibonacci retracement of the upside wave from 1603.00 to 1803.00 as seen on the provided four-hour chart. We can see how SMA 50-colrored in red- and SMA 20-blue- have provided the metal with support since the opening of this week, but there are two main technical catalyst that are contraditing with the above mentioned positive factor as follows:

  

  

• Technical Analysis for Energy Markets
  The commodity settled below 100.00 area, while, a possible rounding formation could be developing as shown on the chart , a breach above 100.30 could signal the continuation of the formation toward the high at 103.35. on the other hand breaching 97.10-97.30 to the downside could extend bearishness again initially toward 95.00 major support and the 200-days SMA. For now, we will wait for a breach of one of the aforementioned levels.

  

  

• Gold and Forex Technical Update
  Gold: Gold is currently trading at 1722.90 levels. Support is seen at round 1702.23 levels (100 days daily EMA) and resistance is seen at around 1792 levels. As suggested earlier stay away from longs until we see significant corrections. Look at Initiating shorts at good resistances. Outlook stays bearish may target 1600 soon. Look at shorts.

  

  

• Bullion and Energy Market Commentary
  Gold posted a quiet inside day with a higher close on Tuesday as it consolidated some of this month’s decline but remains below the 20-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends this month’s decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing would confirm that a short-term low has been posted.

  

  

• Commodity Report: Gold
  GOLD posted modest gains in offshore trade as a weaker USD supported the precious metals space and a small rise in equities also helped gold to push higher on the night. We saw much better consumer confidence data in the US but we also saw tensions in Iran escalate with an attack on the British Embassy which will only add further upside pressure. Gold finished US trade marginally higher by 0.25% at $1,716. Gold is grinding higher slowly at the moment but the bullish pressure is building as tensions in the Middle East rise and uncertainty in the Euro region increase. We are also seeing solid economic data in the US support as equities stabilise and the USD weakens. We have continually said that gold will only rise when markets settle and volatility declines and we are now starting to see this and thus we are seeing a rise in gold prices. Ultimately we didn’t really go anywhere last night and resistance at $1,721 remains in tact for now. A break above here should trigger some small stops and open the door to $1,735 and then $1,750. We remain a buyer of dips towards $1,700 with stops below $1,675. Intra day range should be $1,711-$1,727 with an upside bias as bank downgrades and Middle east tensions support

  

  

• Daily Commodity Update: Brent Crude Oil
  Brent Crude Oil futures pushed through key level resistance to initiate what may become a major breakout from the recent trading range. Autochartist identified the move as a breakout above an Ascending Wedge chart pattern illustrated here on the longer term 240-minute time frame.

  

  

• A Total Wipeout
  Lehman 2008, American Airlines 2011: Seeing the inevitable from six months out. Plus… S&P adds 40 points in two days: Marc Faber on how long the rally can last.
• Chris Martenson’s presentation at the Gold and Silver Meeting in Madrid
  In this video Chris Martenson, economic analyst at chrismartenson.com and author of ‘The Crash Course’, explains why he thinks that the coming 20 years are going to look completely unlike …

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• Thailand’s Gold Rush
  According to figures recently released by the International Monetary Fund, Thailand seems to have taken advantage of the recent correction and consolidation in the gold price to continue its long-term …
• Dump Your U.S. Stocks (But Not This One)
  No question, lately the European debt crisis is driving the financial news. Meanwhile, another financial train wreck, the United States, is on the same path of destructive overspending and fast approaching a similar day of financial reckoning. The global economy desperately needs any engine of growth it can find, and that certainly isn’t going to [...]
• The euro: destroying the village in order to save it
  News yesterday of possible support for the eurozone from the International Monetary Fund sent investors scurrying for equities and commodities, with decent gains on stock markets around the world. …
• Venezuela celebrates gold repatriation
  A few months ago the Venezuelan president Hugo Chavez announced that he intented to repatriate the country’s gold reserves from abroad. Last Friday the first gold bars arrived at Caracas airport. …
• Technical Analysis for Precious Metals
  Respecting our previous analysis, gold has moved towards the PRZ –potential reversal zones- of the hourly bearish harmonic Gartley pattern at 1720.00 where it started to move downwards once more.-check the previous report for more details about this intraday harmonic overview. In the interim, the four-hour chart succeeded in drawing a bearish crossover on its Stochastic which took the metal towards the sensitive areas-shaded in yellow- thereby, the bearishness is still favored over intraday basis; noting that a break below 1705.00 is required to confirm it. Conversely, gold should be well capped below 1740.00 to protect our scenario.

  

  

• Technical Analysis for Energy Markets
  After testing 100.30 areas crude retraced sharply toward 97.00, trading remains above the critical 94.50-95.00 support level. As shown on daily chart above, oil may be in the process of forming a bottom at the 200-days SMA, the continuation of the bullish wave will be confirmed by settling above 100.30. In general, we expect further upside attempts for today, where the upside bias should remain intact so long as price is above 95.00 areas.

  

  

• European Commodity Report: Gold
  GOLD consolidated in Asia trade today as profit taking set in after the recent rally up from $1,665 but big gains are still yet to be seen and we should trigger these in the coming sessions as further USD weakness is seen. Commodities were broadly unchanged in Asia as we await European trade and US data tonight. Gold traded in a $1,706-13 range and finished the session unchanged at $1,713. A slow and quiet grind in Asia for precious metals today as we were ultimately direc-tionless on the day as liquidity remained thin and trad-ers await the reaction in Europe this morning after such big gains last night. We may see some initial sell-ing pressure as European equities struggle at the open but we expect support towards $1,700/02 to limit any losses and for a bigger move higher targeting $1,21 initially and then $1.735. We continue to say that gold is going to see a big move higher soon and get ready for this as it will take prices all the way back for a test of major resistance at $1,800. We remain a buyer of dips towards $1,690 with stops just below $1,675 for now. We target $1,750 this week but ultimately a close above here and we could see some big gains. Watch the Euro and US consumer confidence for direction to-night as a rise in the Euro should trigger big gains

  

  

• Bullion and Energy Market Commentary
  Gold closed higher on Monday as it consolidated some of this month’s decline but remains below the 20-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends this month’s decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing would confirm that a short-term low has been posted.

  

  

• Gold and Forex Technical Update
  Gold: Gold is currently trading at 1709.15 levels. Support is seen at round 1680.83 levels and strong resistance is seen at 1720.59 levels (21 and 55 days daily EMA). As suggested at 1800 Stay away from longs until we see significant corrections. Look at Initiating shorts at good resistances. Outlook stays bearish may target 1600 soon. Look at shorts.

  

  

• Commodity Report: Gold
  GOLD has been looking very bullish of late even as we declined from $1,800 back towards $1,665 the market was buying dips awaiting another rally and we have just started it. Last night saw a breach back above $1,711 which was a very important level and we are now on the way to much higher levels as investors continue to diversify their portfolios in precious metals as equities are just too volatile and directionless right now. Gold finished US trade sharply higher by 1.65% at $1,713. We are not the usual bulls who start to rant when positions go our way and we have actually stayed bullish for this ride lower clearly stating that prices can only move higher in the next 12-24months as uncertainty remains evident and as debt problems plague the world. Last night was very positive not only for commodities but also for currencies, apart form the Euro, and equities which rallied sharply. Gold has now broken through key resistance at $1,711 and we now look for a target of $1,735 initially and then $1,750 which is major resistance. Intra day today we expect further gains to target last nights high at $1,720/21 before any selling pressure returns. Support is solid at $1,700 and we expect this level to hold and provide another good buying opportunity

  

  

• Daily Commodity Update: Silver
  Silver futures launched higher in Monday’s trading session to eclipse the $32.00 per ounce level once again. The turn-around erased much of the losses experienced last week as the precious metals sector followed the stock market lower. Monday’s move places the price in close proximity to the resistance identified on the Autochartist Key Level indicator.

  

  

• Beware the Party Mood
  Holiday cheer: Retail and eurozone jubilation: The 5 deigns to interrupt with a few facts that don’t fit in. Plus… $601 trillion time bomb grows to $708 trillion in only six months.
• The Fear Index continues its relentless rise
  October was in the end a flat month for the price of gold, which oscillated between its major resistance level above $1,800 per troy ounce and strong support around $1,650. Nevertheless the Fear …

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• Vancouver Resource Investment Conference 2012
  GoldMoney Foundation Director James Turk will be participating at the Vancouver Resource Investment Conference on January 22-23 2012, where he will be delivering a keynote address and taking part in …
• More Declines Coming!
  Larry here with an important market update. My systems are giving me sell signals in gold, silver and the Dow Industrials, confirming my recent forecasts. Don’t miss this video update! In it, I give you the next important support levels to monitor. Best wishes, as always … Larry P.S. Did you hedge your gold holdings? [...]
• Fed to intervene in Europe?
  Gold and silver prices had another down day last Friday, with the Comex November gold contract down 2.3% over last week. Percentage losses were greater in silver, platinum and palladium, with …
• Australian gold production falls
  In the third quarter, Australian mines produced a total of 66 tonnes of gold – 2.4% less than in the previous quarter. Nevertheless, Australia has retained its position as second largest gold …
• Rainer Münz talks to James Turk about demographics
  Prof. Dr. Rainer Münz, Head of Research at Erste Bank, and James Turk, Director of the GoldMoney Foundation, talk about the characteristics of global and European demographics. There are about 500 …
• Higher life expectancy: drivers and effects
  Prof. Dr. Rainer Münz, Head of Research at Erste Bank, and James Turk, Director of the GoldMoney Foundation, talk about increasing life expectancy, which on average is increasing by about six hours a …
• Technical Analysis for Energy Markets
  Oil started the week higher, testing 99.00 level this morning, the upside rebound hint that we may have seen a bottom near 95.00 areas, stochastic is attempting to crossover positively as well. However, steady trading above 100.00 is needed to confirm the continuation of the bullish wave for this week towards the high at 103.35. otherwise, downside pressure may resume to retest the 94.50 major support again. For now, we will wait for more confirmation to suggest the possible upcoming move.

  

  

• Technical Analysis for Precious Metals
  The metal has inclined during the Asian session affected by the oversold sign on Stochastic where it entered the resistance areas of 50% Fibonacci of the upside rally from 1603.00 to 1802.00 as seen on the provided four-hour graph. The pivotal weekly resistance levels around 1737.00-1740.00 should hold to protect the expected bearishness. Our proposed negative scenario is based on the negative pressure of SMA 50-red- and RSI indicator which is gradually entering overbought areas. Follow us in the midday report as we will introduce an intraday harmonic possibility.

  

  

• Demographics and economic growth
  Prof. Dr. Rainer Münz, Head of Research at Erste Bank, and James Turk, Director of the GoldMoney Foundation, talk about the relationship between demographics and economic growth. Münz states that …
• European Commodity Report: Gold
  GOLD posted strong gains today as the USD weakened sharply and equities gained on the back of better retail sales data for Black Friday and as the IMF may come to the rescue for Italy and ultimately the Eurozone. Commodities broadly gained and Copper prices definitely helped out on the day rising by over 2.50%. Precious metals gained as investors are not moving into equities and this is rather a short-covering move for now so upside for Gold remains significant. Gold traded in a $1,679-$1,708 range and finished the session stronger by 1.30% at $1,706. There are some really bullish indicators for gold prices right now and the double bottom recently seen down at $1,675 is confirmation in our view of a move high-er but we still need to break some further resistance levels to confirm this. Resistance at $1,711 is key and we must break firmly through the level to trigger accelerated gains in the coming sessions. The MACD and RSI are both showing significant bullish diver-gence on both the hourly and 4 hourly charts and we are now back above the 50day moving average which resides at $1,700. Support sits initially at $1,690 and lower at $1,675 which must hold otherwise we are in for further declines back towards 41,600

  

  

• Demographics and public finances
  Prof. Dr. Rainer Münz, Head of Research at Erste Bank, and James Turk, Director of the GoldMoney Foundation, talk about the impact changing demographics has on public finances, and in particular, on …
• The changes in European demographics
  Prof. Dr. Rainer Münz, Head of Research at Erste Bank, and James Turk, Director of the GoldMoney Foundation, talk about the characteristics of global and European demographics. There are about 500 …
• Bullion and Energy Market Commentary
  Gold closed lower on Friday and the mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are turning bearish hinting that a short-term top might be in or is near. If it extends last week’s decline, the reaction low crossing is the next downside target. Closes above Monday’s high crossing are needed to confirm that a short-term top has been posted.

  

  

• Commodity Report: Gold
  GOLD moved modestly lower in offshore trade but ultimately markets were thin due to the Thanksgiving day holiday in the US. We will see the return of the US tonight and liquidity will return today so we should see a push higher as positive news flow over the weekend out of Europe sees the USD decline in early Asia trade and we have not seen any strength in the AUD and Euro for sometime now. Gold finished the week out at $1,688. A base is clearly forming right now around $1,675 and with some early USD weakness we expect equities to rebound today and for commodities to find some support after a week of miserable declines. Gold will be a big winner if this occurs today and we would be a buyer of dips towards support at $1,675 looking for a move back to $1,700 and then $1,711. The latter is key for gold in the short-term and a break though $1,711 signifies a bottoming has occurred and we can look for a move back to $1,750 initially. Stops on short-term longs must remain just below $1,665 for now until the break higher occurs. Below here we could still see declines target $1,600 before the next big leg higher as major support sit down here.

  

  

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