Spot Gold Chart Update

Dear readers, The year is coming to an end and volume is low , meanwhile gold managed to retrace to the 61.8% Fibonacci line of the latest 38$ correction. An up to date intraday chart with Fibonacci lines is posted below.

Gold & Central Banks

It is widely known that central banks hold significant amount of gold and actively participating in the gold market both as buyers and sellers. What is much less known is the exact way in which central banks count their ounces and perform their gold transactions. Neal R Ryan the director of economic research – Blanchard and Company Inc. published an interesting paper about this issue. The paper

Spot Gold – Fibonacci update

Dear readers,Spot gold 4 hours intraday chart annotated with the latest Fibonacci lines is posted below, click on the chart for larger view.

Silver Charts

Dear readers,I'm posting two charts:Weekly spot silver chart annotated with Fibonacci levels and uptrend line. Long term silver chart. Previous silver charts and commentary

Gold in Euro and Yen

Dear readers,Don’t be surprised to see Higher USD Index along Higher Gold price.See also : HUI BreakoutBelow are daily charts of Gold in Euro and Gold in Yen, can you see the inverted head and shoulders patterns?

US Dollar Index (USDX) Elliott Wave Update

Dear readers,The US Dollar Index (USDX) is approaching its Head and Shoulders pattern target (~81.5). The Elliot Waves count on the 3 years weekly chart indicates that once {c – C –(B)} bottom is in place a sustained 5 waves upward move ( Wave C) should start and it will probably last at least one year. Looking at the 20 years chart it is easy to see that the USD index can go a bit higher then