Gold touches $1655, the highest in more than a week after the claims report. Expect resistance up to $1657 but a break higher could spark a rally to $1680. Many people thought the Easter holiday had skewed claims but that’s … Continue reading
Gold fell sharply on the Fed (no QE) then rallied back toward the highs for the day. The rally back higher returned to the 38.2% and the 200 hour MA at the 1644.81 level (see chart above) The key technical … Continue reading
Political uncertainty tends to benefit gold but the French election and Dutch upheaval are giving a lift to the dollar with gold caught in the downdraft. Worries about liquidity at European banks may be prompting sellers. Gold has traded lower … Continue reading
The rally stalled out at resistance at $1650/54. I have a hard time seeing it get above those levels today unless the Philly Fed is terrible.
With global borrowing costs so low and still some murmurs of possible QE3 doing the rounds there are a few people out there scratching their heads as to why Gold isn’t rising.. Physical demand from the likes of India is not … Continue reading
Falling rapidly after touching $1656/oz in early US trading. Modest USD strength is helping. I don’t see anything to like in the gold chart. It’s below all the major moving averages and there is a series of lower highs and … Continue reading
Gold has taken off to the upside in the last 20 minutes – breaking above the 200 hour MA and the high for the day in the process. This breakout area is now support (at 1650-1654). The pair bottomed near … Continue reading
Jumps to $1656 from $1640 in a flash. No clear catalyst but talk about more easy money via LTROs and QE is a reason to buy.
Gold is up $17 today to a session high of $1647 after India’s India’s gold-jewelry trade associations agreed to end a 20-day strike after a government promise to review newly implemented gold taxes.