2012-08-31T19:58:43+0000

August 31st, 2012 16:01:19 GMT.

Gold seems to have made up its mind

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Gold has cracked $1680, hitting the highest level since early April. Aside from bonds, gold is the most ‘pure’ QE play. The chart is a beautiful outside day after falling to $1645, which is a successful(and necessary) retest of the … Continue reading

2012-08-31T16:01:19+0000

August 29th, 2012 14:58:04 GMT.

Gold hits one-week low

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Gold has dropped below the $1656 low set yesterday to a one-week low. Minor support is at $1650. The GDP report was a shade better than the 1.7% reading because of a downward revision to inventories. That works against QE3. … Continue reading

2012-08-29T14:58:04+0000

August 28th, 2012 19:32:44 GMT.

Gold pointing to dovish Fed

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Gold is up $3 to $1667 today after touching a 5-day low of $1657 overnight. It is encouraging for gold bulls that gold remains near its four-month high and has stubbornly held on to last week’s gains. It will be … Continue reading

2012-08-28T19:32:44+0000
2012-08-28T06:08:47+0000

August 24th, 2012 16:45:56 GMT.

Gold not pulling back

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Traders often ignore markets that aren’t moving but sometimes stability is a tell-tale sign. Take gold. After three days of strong gains and breaking to four-month high, gold is virtually flat today at $1670. To me, that’s a bullish signal. … Continue reading

2012-08-24T16:45:56+0000
2012-08-24T05:13:07+0000

August 23rd, 2012 14:40:43 GMT.

Gold fakeout or breakout?

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Fresh highs at $1670. I lean toward fakeout because the only way you can justify the level of dollar selling over the past three days is QE3 and I still see a big risk of disappointment when Bernanke speaks at … Continue reading

2012-08-23T14:40:43+0000

August 21st, 2012 13:08:55 GMT.

Gold surges to 10-week high

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Gold is at $1638 and flirting with the key $1641 level in a broad commodity rally. Oil earlier touched a three-month high of $97.22. With QE3 expectations falling, technical buying is the driving factor. Buyers are jumping in after the … Continue reading

2012-08-21T13:08:55+0000
2012-08-20T16:20:48+0000
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