The Gold Silver ratio (XAU / XAG) = ~ 47.70, Dow / Gold = ~17.38, Gold / Crude Oil = ~9.13.The U.S. Dollar Index (USDX) – has been around since 1973. USDX is computed using a trade-weighted geometric average of six currencies. The six currencies and their trade weights are: Euro -- 57.6% Japan/yen -- 13.6% UK/pound -- 11.9% Canada dollar -- 9.1% Sweden/krona -- 4.2% Switzerland/franc -- 3.6%.
The gold market is difficult to analyze for the reason that investors, traders, and speculators are buying gold for many different reasons. Inflation hedge, currency hedge, stocks, bonds property market, gold seems a good hedge against all of them. Others see gold as a war, terror play. The long term history of gold, the global market atmosphere and the recent price appreciation are all pushing
There is probably a lot of highly leverage day trading taking place in the precious metals market. This kind of silver (XAG) and gold (XAU) gambling is taking place in the form of derivatives, CFDs and in house forex speculation. The intraday gold price pattern of yesterday shows a pattern of M or W, this kind of pattern is deadly for over laveraged traders since its clear their stops loss then
The U$D price of Gold broke out of the short term triangle pattern and the initial price target is 671$. The price of gold made higher low then higher high - positive sign. Retesting of the triangle is probable, support resistance at appropriate Fibonacci numbers, trend lines, check the 10 day EMA (240 hour EMA).The price of silver is showing more weakness on the downside which is very rational
Here is a short term (30 minutes) candle sticks chart of gold spot with two sets of Fibonacci lines and partial wave count. Gold is forming a triangle pattern and pattern resolution is soon expected.CPM Group have published their Silver 2006 year book:http://www.thebulliondesk.com/content/reports/tbd/temp/CPMPR.pdfClick on the chart below to enlarge and see suggested short term lines (numbers)
Intresting Perspective / Case study :Mon, Apr 24, 2006 source: http://iran-daily.com/1385/2544/html/focus.htmGold PricesThe latest open market (unofficial) rates for major foreign currencies and prices of gold have shown huge increases since the beginning of the new Iranian year (started March 20, 2006).For instance, the price of the full Bahar-e Azadi (old) gold coin reached 1,830,000 rials,
Expect this wild price behavior to continue, in 20 days the price of gold moved from ~585$ to 645$, then 24 hours correction and the gold price fall 38$ … The silver price is even more volatile pulling back 3$ in 24 hours. This wild action could be destructive for mismanaged over leveraged positions both on the long side and the short side, successful trading opportunities will probably continue
Interesting news coming from Iran:Iran central bank moves to calm gold rushKhaleej Times, (AFP)19 April 2006TEHERAN - Iran’s Central Bank moved on Wednesday to slow down a sharp rise in the price of gold, state television said on Wesdnesday, as traders spoke of increased public demand due to tensions over the Islamic republic’s nuclear programme.The price of a gold coin weighing around 10 grammes
The Gold Silver ratio (XAU / XAG) = ~ 43.67, Dow Jones Gold ratio ( Dow / Gold = ~ 17.61, Gold / Crude Oil ( CLK6 , Crude Oil, Light Sweet, May 2006 ) = ~8.88.At this stage of the game the long term charts are very important, the short term charts are applied with much more context this way. Gold is accelerating in price, silver is sky rocketing. Investment (in reality mostly savings) capital is
Here is Gold and Silver open interest Summery table which aggregate the data of the COMEX (NYMEX), CBOT & TOCOM Exchanges.Those are not charts of some hot stocks but charts of natural resources, rare minerals which experienced 20 years bear market , The Third Elliot wave is far from over and can easily exceed the old highs for silver and gold , this markets are relatively small when compared to
Relatively strong upward movement for Gold and Silver but still no real excitement , some market observers start to question the 1980 gold price high. The Great Global Gold Bull Market and Silver Bull Market are eccelerating and the signs of Third (years major)Elliot wave are clear. The Gold Silver ratio (XAU / XAG) = ~ 4.58, Dow Jones Gold ratio ( Dow / Gold = ~ 18.00, Gold / Crude Oil = ~
There are numerous press release, short recommendation, publication and observation which are all stating a bearish view toward the USD. I am well aware of the arguments which imply that the USD should head lower vs. other national currencies and there is no need to mention them. But, as I already discussed in several previous posts, the Forex market seems to be well managed toward stability.Here
The observation that the Gold price is rising because of geopolitics or due to the rate of inflation is very common. However, I believe that the price of gold is simply affected by the present physical supply and demand at spot price. Geopolitics & Inflation are factors which affect the demand and supply of physical gold, but they are certainly not the only factors, other factors are: mine supply
There are currently 4 ETF's which claim that their gold assets are backed by allocated gold held in a vault on behalf of investors. Tottal assets ( as of April 12 2006) = 446.37 Tone (14,350,871 Ounces)( GLD ) New York Stock Exchange (NYSE) Streettracks, Gold Shares. - link( GBS ) LSE (London Stock Exchange) AND Euronext Paris Gold Bullion Securities. - link( GOLD ) Australian Stock Exchange (ASX
GFMS latest observation :Continued Growth in Investment Forecast to Take the Gold GFMS - A continued surge in gold investment demand has recently pushed the gold price through a series of fresh multi-year highs.In its Gold Survey 2006 ,GFMS forecast that this expansion in investor interest is likely to continue over the next couple of years,driving the price comfortably over the $600 mark before
Gold Silver ratio (XAU/XAG) = ~ 47.45, Dow / Gold (INDU/XAU)= ~18.69, Gold / Crude oil (XAU/WTIC) = ~8.60.Crude Oil Chart hereJulian D.W. Phillips (The Gold Forecaster)has published 3 parts observation under the name : Gold & Oil - 1971 Until the Future.Quote:"As it becomes clearer that the $ hegemony is going too far, as record after record U.S. Trade Deficits are published, most nations and
I haven't noticed any interesting or important news which are directly related to the gold and silver markets. Just the usual Silver ETF hype, Inflation deflation debates, Commodity bull cycle, Debts and Interest rates & the usual gossip. Since Jan 01 2006 Gold is up against the Euro (€) ~ 11.50% , up against the USD ($) ~ 13.74% & up Against the Yen(¥) 14.24% The gold silver ratio (XAU/XAG) = ~
The precious metals rally continue. Gold and silver (XAU/USD, XAG/USD) made new multi decades highs today. Technically gold and silver broke out of a short term similar ascending triangle pattern. The gold silver ratio (XAU/XAG) = ~ 49, Dow / Gold = ~18.85, Gold / Crude oil = ~8.77.For gold and silver mining stocks reviews see: Gold and Silver Mining Stocks blog
Dow Jones / Gold, Gold / Oil & Gold / Silver ratios are some of the most Interesting and informative pieces of data, here is why:When we compare the Price of gold to the price of the two other commodities or the old Dow Jones index the value of the dollar becomes a non issue. It is a simple math exercise, when we look at the price of the Dow , Silver & Oil, we actually look at:Dow (1 index unit)
Gold (XAU) and silver (XAG) are in a very powerful uptrend and higher prices should be expected. I annotated the gold and silver charts with diagonal trend lines support which can be used as stop / enter spots.see Gold & Silver mining stocks reviewssee Commodity chartsAll trend lines support are well above 10$, the days of single digit silver are probably history.
Iran denies Swiss paper's claim in withdrawal of Gold assets Tehran, March 31, IRNA Iran-Swiss-Gold An informed source in Central Bank of Iran on Friday denied the news published in a Swiss daily on withdrawal of 250 tons of Iran's gold reserves from that country's Credit Bank. The Central Bank official, who spoke on condition of anonymity, told the Economy Desk at IRNA Head office in Tehran Desk
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