Archive for May 30, 2012

Today

  • Mining companies facing Peruvian difficulties
    Since last autumn residents of the Peruvian region of Cajamarca – approximately 560 miles (900km) north of Peru’s capital, Lima – have been protesting against Newmont Mining’s “Conga …
  • How to Control Your Risk in a Risk-on Market
    In a market full of risk, every single day that it’s open for trading, the best move you can make is to get positioned to profit from the specific type of risk that the market is presenting. You might have heard about “risk-on” and “risk-off” environments. Today I’ll share with you what each type of [...]
  • Gold reserves as collateral
    Yesterday’s big news as far as gold was concerned was a Telegraph report stating that Germany could be about to get into the “cash for gold” business in a big way. Angela Merkel is …
  • Technical Analysis for Energy Markets
    The price has declined affected by facing the resistance of the descending channel seen on the image. EMA 20 and EMA 50 are covering the movements as well while ADX shows a bearish sign suggesting further losses over intraday basis. Stochastic has entered oversold territories and that may cause fluctuation. The price should stabilize below 92.15 to keep our scenario valid; whilst breaching 89.75 will confirm and accelerate the downside wave .

  • Gold and Forex Technical Update
    Gold: Gold is trading weaker at $1546 levels. Gold is currently trading lower as the market participants are looking at US dollar as a safe haven bet amidst Spain’s increasing concerns. Strong US dollar has reduced the appeal of the yellow metal. Near term support is at 1532 level, whereas strong resistance can be seen near 1565 levels (10 day EMA). Overall look at a range of 1-3 months at 1450-1600 with bearish bias.

  • Technical Analysis for Precious Metals
    Gold declined sharply after it failed to settle above 1582.00, negating our positive expectations yesterday. Today, we find the metal is stable below 1552.00 accompanied with Stochastic being negative, while EMA 20 and 50 pressure gold to the downside. All these factors suggest that the downside movement might extend today , but stability below 1582.00 is necessary.

  • Bullion and Energy Market Commentary
    SPOT GOLD closed lower on Tuesday. The lowrange close sets the stage for a steady to higher opening when Wednesday’s night session begins trading. Stochastics and the RSI are neutral to bearish signalling sideways to lower prices are possible nearterm. If it renews the decline off February’s high, the 38% retracement level of the 20082011rally crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted.

  • The Untold Story of “The 49%”
    The news they tried to bury on a holiday weekend: Percentage of Americans receiving a government check. Plus: Chris Mayer on the comedown from “speculative froth” in Q1… and some uncomfortable questions for China bulls.

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Today

  • Gold bears’ criticism unfounded
    Whenever there is a selloff in precious metals it does not take long before talk of a “gold bubble” and “a useless relic” reemerges. In recent weeks Warren Buffett and Charlie …
  • Investing in Education a ‘No Brainer’ for Chinese
    I was less than 2 years old when my parents divorced in 1957. My 20-year-old Japanese mother suddenly found herself living in a strange country with no family, friends, money, food or place to live. Yet instead of returning to Japan where her family and friends were, she scratched, rummaged and scavenged enough to make [...]
  • Spanish debt crisis in the spotlight
    US markets were closed yesterday for Memorial Day, but elsewhere in the world the show went on as per normal. The “show” at the moment remains dominated by the eurozone’s travails …
  • Technical Analysis for Precious Metals
    Gold found strong resistance around 1582.00 which represents the first target of the Deep Crab harmonic pattern, but we can see how the metal is still stable above the descending resistance shown above in red. In addition we can see a positive crossover on Stochastic. Therefore, our positive expectations remain valid over intraday basis , based on the mentioned harmonic pattern and the suggested formation of the (C) wave. A breach of 1561.00 weakens our scenario, while a breach of 1552.00 negates our scenario over intraday basis.

  • Technical Analysis for Energy Markets
    We will redraw the descending channel to confine price action; we find that price settles below 91.65 resistance and the 50 exponential moving average at 92.05. Where price could be affected by the previously breached rising wedge and that may lead to further downside pressure , while ADX trend indicator is negative and RSI settles below 50.

  • Gold and Forex Technical Update
    GOLD: Gold is trading on a weak note at $1573 levels. Weakness in euro is making the gold prices more vulnerable. The yellow metal has lost the safe haven appeal to the US dollar. The declining US bond yield is adding strength to the Dollar. Near term support is at 1551 level, whereas strong resistance can be seen near 1588 levels (21 day EMA). Overall look at a range of 1-3 months at 1450-1600 with bearish bias.

  • WTI Breaks Below Wedge Pattern, Swing Projection Targets 88.00
    WTI Crude Oil found support Wednesday 5/23 at 89.30 and has been rallying until the 5/28 US trading session, where it topped off near 92.00, just above the 61.8% retracement (91.75) of the latest 93.27-89.30 downswing.

  • Bullion and Energy Market Commentary
    SPOT GOLD closed higher due to short covering on Monday. The lowrange close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are turning bearish signalling sideways to lower prices are possible nearterm. If it renews the decline off February’s high, the 38% retracement level of the 20082011rally crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted.

  • Commodity Report: Gold
    GOLD climbed higher in the Asian session to touch as high as $1584 before paring nearly all gains during the European and US hours to open this morning at $1573 in U.S. holidaythinned trade. The bullion has been tracking the euro closely, which earlier rose on the weekend result of opinion polls in Greece showing a slight lead for pro-bailout parties. The rise was soon hammered as news showed the Spanish government could soon need to recapitalize the state’s fourth largest lender Bankia by issuing government debt. The 10-yr Spanish bond was yielding a dangerous 6.45% overnight. A higher rupee and the end of the wedding season in India could see further weakness in the precious metal. We maintain our neutral position on the metal as its price is still carving out a triangle development. Aggressive traders could range trade gold to expect strong offers below $1600 and target levels around $1540.

  • Lots of action and profit opportunities!
    Markets are finally breaking into action. There’s a lot going on, so I wanted to give you an update, even though it’s a holiday. Enjoy the day, and be sure to view my video. Best wishes, Larry Video Transcript Good morning! This is Larry Edelson with my Uncommon Wisdom video update for Monday, May 28. [...]
  • G8 nations hanging together
    Gold had another decent day on Friday, rallying up from support at $1,550 to just shy of $1,575. Silver, platinum and palladium also rallied, somewhat surprisingly given that commodities and shares …
  • Pasha Roberts and Alasdair Macleod on how silver could become an alternative currency
    Pasha Roberts, producer of the Silver Circle movie, and the GoldMoney Foundation’s Alasdair Macleod talk about the economic outlook and what the prospects are for silver’s use as an …

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Today

  • Paper gold pitfalls
    Last year’s disastrous collapse of MF Global has impacted financial markets around the world in many ways. Given that it was one of the largest brokers of leveraged products, it is no surprise that …

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