Archive for April 30, 2012

Today

  • Missouri politicians aim to simplify use of gold as money
    Missouri is the latest US state that is trying to follow Utah’s example by allowing physical gold and silver to be used as legal tender. According to the Constitution, gold and silver coins – …
  • Clock ticking away …
    As quiet as these markets seem right now … as sideways as the trading action is … time marches on. That means, even though you may not see it on the surface, important developments in the markets are indeed taking shape. You’ll want to know more, I’m sure. So check out my video this week. [...]
  • Another bump in the road for European fiscal union
    Gold and silver had a good finish to the end of last week, with the gold price settling at $1,664 – comfortably above selling resistance that has capped the price at $1,650 in recent weeks. It …
  • IMM Positioning – Sterling Back In Favour
    Sterling in favour as prospects of near-term BoE easing fade: The turn in GBP positioning marks the biggest shift in the latest IMM data, as investors have turned bullish on sterling, though positions are still far from stretched levels. The change in positioning has come on the back of April BoE minutes (released on 18 April), with yet another dove (Posen) changing his call for further easing. This leaves only one MPC member (Miles) favouring further asset purchases, making an expansion of the QE programme in May unlikely. Thus, near-term downside risks to GBP have decreased recently; we have revised our forecasts accordingly (see FX: Revised GBP forecasts).

  • Quality assessment of fine gold (part 2 of 2)
    Quality assessment of fine gold (part 2 of 2) Modern methods of chemical analysis One should keep in mind that the required sampling for chemical analysis will always damage the inspected item. …
  • GoldMoney further expands educational activities with launch of the GoldMoney Laboratory
    GoldMoney further expands educational activities with launch of the GoldMoney Laboratory London, 30 April 2012 – GoldMoney, one of the world’s largest providers of physical bullion for …
  • Quality assessment of fine gold (part 1 of 2)
    Quality assessment of fine gold (part 1 of 2) Introduction Gold quality designation Many countries have enacted consumer protection targeted regulations on quality and marking of precious metal …
  • Technical Analysis for Precious Metals
    Gold settled in areas above 1654.00, indicating that the 0-5 harmonic structure is still forming the CD leg. But still, we will be waiting the completion of this structure in areas between 1700.00 and 1720.00; however, this structure might be valid as the metal is moving in line with Fibonacci ratios. Therefore, we expect the upside move to extend this week as long as the metal is stable above 1654.00, noting that a breach of 1638.00 weakens the upside move over intraday basis.

  • Technical Analysis for Energy Markets
    The commodity started the week above the main resistance for the bearish trend, and that hints we may see a bullish reversal. However, stochastic has entered overbought area; we also need to see a daily closing above the resistance to support the continuation scenario. Thus, we prefer to remain neutral in our weekly report awaiting further confirmations.

  • GOLD: Recovers But Susceptible
    GOLD: Although Gold backed off lower prices to close higher the past week, it continues to hold on to its broader downside bias. As long as it trades and holds below the 1,679/96 levels, the risk is for the commodity to target its support located at 1,612.10. We may see a breather here but if that fails to occur, further declines could follow towards the 1,522.55 level, its Dec 2011 low. A break of here will open the door for further weakness towards its psycho level at 1,500.00. Alternatively, the commodity will have to return above the 1,714.35 level to annul its present downside threats and then open further upside towards the 1,802.75 level, its Nov’2011 high and possibly higher towards the 1,84 outlook on Gold 50 level. All in all, Gold continues to hold on to its nearer term downside bias.

  • Bullion and Energy Market Commentary
    SPOT GOLD closed higher on Friday and the highrange close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain neutral to bearish signalling sideways to lower prices are possible nearterm. If it renews the decline off February’s high, the 75% retracement level of the DecemberFebruary rally crossing is the next downside target. Closes above the reaction high crossing are needed to confirm that a shortterm low has been posted.

  • Gold and Forex Technical Update
    Gold: Gold is trading stable at 1663 levels. The gold is trading on a flat to positive note on the back of disappointing U.S. growth and European debt jitters which are boosting the investment demand for gold. Gold is currently looked upon as a safe heaven. Support is at 1622 level, whereas strong resistance can be seen near 1674 (100 day EMA) level. Overall look at a range of 1-3 months at 1550-1630 levels. Overall Target 1550 levels. Gold in INR is rising to all time highs due to weakening rupee.

  • Commodity Report: Gold
    GOLD retraced to $1650 on Friday Asia’s after-noon before defying the down trend resistance to touch as high as $1667 during the US session. It fin-ished last week at around $1662 and opens today at around the same price level, a near-2-week high. A lacklustre 2.2% US GDP growth announced on Fri-day against a market expectation of 2.5% saw the price advance $10 in an hour, tracking the euro which also rose to a 1-month high, as expectation of further monetary easing heightened. The precious metal is also buoyed by a rising equity market which chose to ignore the GDP number and focus on stellar US company performances, as it has tended to follow risky assets recently. It is worth noting that central banks of emerging economies such as Turkey, Thai-land and Mexico have increased their appetite for gold in the recent year to hedge against a ballooning US debt situation and a destabilised eurozone, providing price support. We are neutral in the short and medi-um term as we wait for the price trend to confirm investors’ trust and confidence in the previous curren-cy anchor. Gold shorts are advised to cover if the price solidly breaks above $1,670.

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Today

  • Financial regulators and the free market
    Adam Smith’s great insight was that in a commercial transaction both parties benefit. Before his time, it was generally believed that in an exchange of goods, one party usually gained what the …
  • 2008 was Lehman. 2012 is…
    The next Lehman – as identified by the researcher who generated 462% gains as Lehman crashed and burned. Plus… Food prices up again: Mayer on the best way to play a growing and better-fed world population.

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Today

  • World Silver Survey 2012 confirms bullish picture
    The Silver Institute’s ‘World Silver Survey 2012′ report hasn’t surprised investors and market participants. Silver mining output hit record highs last year, while silver demand from …
  • 3 Ways to Invest as Latin America’s Air Space Takes Flight
    It’s no surprise that with the economic growth pattern of China, Atlanta looks set to relinquish the title of world’s busiest airport to Beijing after 15 years at the top. But what’s lost to most observers is that the growth to the South is also traveling faster … to South America, that is. According to [...]
  • Spanish unemployment rate: bad to worse
    European governments are collapsing left right and centre, Standard and Poor’s have just downgraded Spain’s credit rating by two notches, and new data out this morning shows that close …
  • Technical Analysis for Energy Markets
    The commodity touched the main descending resistance for the declining channel and reversed to the downside, now stochastic is trending downwards and RSI is heading towards 50 level. Accordingly, we thing that stability below 105.25 will lead to a downside move today, taking into consideration that breaking above the aforementioned level may trigger a rally and invalidate the scenario.

  • Technical Analysis for Precious Metals
    Finally, gold inclined supported by stability above 1624.00 and trading outside the descending channel and also by the formation of the CD leg of the harmonic pattern. Consolidation above 1654.00 might weaken the effect of momentum indicators as shown above; while consolidation above this level might support the upside move to extend during the session today. Consolidation above 1624.00 is necessary for the upside move, but over intraday basis consolidation above 1638.00 is much better.

  • Gold and Forex Technical Update
    Gold: Gold is trading stable at 1656 levels. There were early gains recorded in the gold, as the dollar index dipped to a three week low. Support is at 1643 level, whereas strong resistance can be seen near 1667 (55 day EMA) level. Overall look at a range of 1-3 months at 1550-1630 levels. Overall Target 1550 levels.

  • Bullion and Energy Market Commentary
    SPOT GOLD closed higher on Thursday and the highrange close sets the stage for a steady opening on Friday. Stochastics and the RSI remain neutral to bearish signalling sideways to lower prices are possible nearterm. If it renews the decline off February’s high, the 75% retracement level of the DecemberFebruary rally crossing is the next downside target. Closes above the reaction high crossing are needed to confirm that a shortterm low has been posted.

  • Commodity Report: Gold
    GOLD steadily climbed more than $15 to as high as $1,660 extending the previous day’s bounce before the down trend resistance checked further gains open at $1,656 this morning. A broadly weakening US dollar appears to be the main driver of the precious metal yesterday, as the announcement of an unexpectedly high jobless claim figure combined with an upward revision for the second week in a row suggests a stalling US labour market, while Ben Bernanke has said that employment would be the most important determinant of Fed policy.

  • Five Years of The 5
    Dow 13K then, Dow 13K now… Marking five years of The 5… Plus: Fed suddenly concerned about inflation? Amoss on the dollar-oil link, Mayer on the China factor, King on a resource crisis you haven’t started to worry about.

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