After a short-lived breather, gold continues to sell off. So does crude oil, platinum, the euro.
by J. Christoph Amberger
Baltimore — (TFN): If goldbugs breathed a sigh of relief at gold’s close at $805 on Monday, they were premature. As the dollar rose despite news of increased wholesale inflation, gold, oil, and the euro continued [...]
We may shortly be at the beginning of Jimmy Carter’s second presidency. After “windfall taxes” have made a populist return, will we see 14% inflation and record gold prices again?
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Gold prices closed the week at $792 — just in time to make the recent Krügerrand 2008 promotion a really bad deal!
by J. Christoph Amberger
Baltimore — (TFN): Gold futures crashed and burned on Friday, closing below $800 an ounce for the first time in 2008. Gold for December delivery closed at $792.10 an ounce, [...]
"In typical fashion, gold and silver have not been playing to the script. A war breaks out between Russia and Georgia. You’d expect gold to rise. But the opposite happens: we get one of the most violent sell-offs in recent memory." — Dominic Frisby
Blogger’s note: Gold prices have fallen through the floor this week. And [...]
The gold bubble is continuing to deflate, right alongside the oil and euro bubble. Just how far? Jon Nadler provides perspective.
by Jon Nadler, Kitco.com
Baltimore — (TFN): Showing no signs that it has found a near-term bottom, gold continued to lose ground in overnight trading and erased its year-to-date gains, plunging to $801.90 per ounce and [...]
Is demand destruction applicable to gold and silver? The big question now is how far both will fall. Gold was trading at around $660 an ounce a year ago and silver was at $11 an ounce. If they retrace and revert to the mean we could see these prices again relatively soon.
by J. Christoph Amberger
Baltimore [...]
Plunging gold prices have the famed “Indian gld buyers” waiting on the sidelines, waiting for further drops.
by J. Christoph Amberger
Baltimore — (TFN):The currency exchange rate of the euro agains the dollar plunged below $1.50 in Asian trading this morning. Experts are now predicting a rate of $1.46 this week. If this comes to pass, gold [...]
Crude oil prices have dropped below $115. Gold is down $130 in less than two weeks. For dollar bears and goldbugs, this is th time to exercise caution!
by J. Christoph Amberger
Baltimore — (TFN): “Bad news from the Baku-Tbilisi-Ceyhan pipeline - an installation that may not normally draw much of your attention,” writes Martin Vander Weyer [...]
Gold is behaving just like the speculative commodity it is. Just like oil — whose realistic and immediate upside is $150, $200, $500, depending on who you ask and which plummeted $30 in the last two weeks — gold is hitting the skids right now: Today, gold for December delivery fell to $895.50, down $12.40.
by [...]
Even with declining oil prices, gold prices seem to be holding steady. But will it last? Juan Munoz gives Smart Trading viewers his take.
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"Sometimes, however, there is a delayed reaction in gold, which happens more often than efficient market theorists would like to admit. Gold’s fundamentals are still bullish." — Ed Bugos
by Ed Bugos
Baltimore and Vancouver, British Columbia — (TFN): Last week we saw a bounce in the stock market that threatened to send gold prices [...]
“The juniors are set up to throw quite a party. Think back to your most memorable high school ‘extra curricular activity’ and let’s get ready for a replay. Toss in financial rewards as a bonus.” — Russell McDougal
Blogger’s note: Gold prices have stabilized in the last couple of months. But just like [...]
“While corn, soybeans, oil and other commodities were making either fresh contracts or all-time highs on a daily basis, precious metals simply consolidated.” — Nick Jones, Whiskey & Gunpowder
by Nick Jones
Baltimore and Minneapolis — (TFN): Precious metals have taken the back seat in the recent rally in commodities. While corn, soybeans, oil and other [...]
“I have recently noticed a seasonal pattern that has me excited. Over the last six summers, there has been a trading opportunity that has presented itself over and over again.” — Rick Pendergraft
by Rick Pendergraft
Baltimore – (TFN): I have always been a little skeptical of seasonal trading patterns in anything [...]
Baltimore — (TFN): Gold futures continued to slide in morning trading, reaching their lowest level in five weeks as crude oil traded just slightly above $122.
Gold for August delivery was down $5.80 at $878 per ounce on the New York Mercantile Exchange. It traded as low as $868 earlier in the day, the weakest intraday [...]
Baltimore — (TFN): Gold futures dropped more than $1 an ounce Wednesday, marking a second day of declines.
Gold for July delivery fell $1.70 to close at $879.90 per ounce on the New York Mercantile Exchange. In intraday trading, gold traded as low as $876 an ounce.
Shares of gold-mining companies closed lower. Gold bugs blame a [...]
“That key marker of investor anxiety, the gold price, fell 15 percent from its top of mid-March to the end of April. The preceding surge had taken gold bullion up from $650 per ounce in August to above $1,030 the day after Bear Stearns was sold to J.P. Morgan.” [...]
“Take, for example, the recent news stories regarding the Gold market. According to the in-crowd, three main coordinates will always point gold prices due NORTH.” — Nico Isaac
Blogger’s note: Despite the dollar being down and other resources being up, gold has fallen in the last month. So what’s going on with the yellow [...]
Blogger’s Note: There’s a surefire way to tell the approaching end of a bubble: The sellers of bubble commodities… Internet shooting stars and brokers, real estate brokers and developers, and, most recently, gold coin salesmen… splurge on television and newspaper advertising.
Of course, there are more scientific methods: Elliott Wave analysis called for a steep [...]
by J. Christoph Amberger
Baltimore — (TFN): Declining from an all-time low of almost $1.60 per euro in April, the dollar has risen on better-than-expected economic data. After unexpected (if only nominally) positive GDP growth in the first quarter, unexpected (if only nominally) positive job growth in April, the Commerce Department announced on May 1 that [...]