Dear readers, The Europe session will soon begin and the short term momentum haven't turned up yet. So whether we like it or not short term downside still possible. The GC June contract (COMEX GCM7) is trading between the 50% and 61.8% Fibonacci levels. Long silver short gold spread trades haven't been profitable for a while so take note. As always, keep an eye on XAU, HUI and Of course EUR/USD &
Gold & Silver gained some ground as the Euro makes a new all time high (or is it?)The Euro was introduced to the world financial markets as an accounting currency in 1999 and launched as physical coins and banknotes in 2002.sourceAs explained several days ago, pre issued Euro high was actually higher at about 1.4570$Long term (30 years) retro perspective EUR/USD chart.
The USD Index hovers near decades lows, the EUR/USD pair kissed its all time high (~136.667) currently floating less then a cent below. The jury is still out as things can abruptly change on a penny or less…So far June COMEX gold contract failed to exceed its late February high (~699$) while spot gold managed to trade above the same cyclical high. The contango is taking its toll.XAUUSD Intraday
Educational Gold Trading (or related) video collection.Video wall by Blinkx.Thanks for all video contributors, send me video links for inclusion consideration.Market updates and charts will be posted as needed.
Quite but tensioned trading as the US Dollar index is very near to historical lows (see USDX pattern target) and the EUR / USD pair is 100 pips below the all time high ( I'm referring the high of the actual Euro , theoretically – pre issued EURO was actually higher). Silver continue to lag behind gold, HUI & XAU pulled back slightly.In depth look at HUI & XAU.That’s all for now...
The Elliott Wave Lives ON – Excellent Elliott wave blog, S&P and GLD wave counts included. JsMinset – Jim sinclair popular gold blog. Well designed and informative - Grace Cheng Forex Blog. Advanced XAU / GOLD Ratio Analysis at paint the charts. Silver serial commentary and insights at Silver Axis
Dear readers,Just a quick chart update, this time for the COMEX Gold active contract (GCM7). COMEX is where the big guys like to hang out.Platinum ETF might be issued in SwitzerlandDaily chart - COMEX June Gold 100 OZ Contract (GCM7)
Just for the record, someone needs to track these guys.Japan's Omi Recommends IMF Sell Gold ReservesJapan's finance minister said Saturday he had proposed to the International Monetary Fund's policy-steering body that the fund sell its gold reserves to cover its falling income."Japan has told (the committee): 'Why not sell gold?'" Finance Minister Koji Omi told reporters after attending the
Yet another higher high for gold. Up trends on all time frames still intact.Gold Spot Intraday 4 hour candlesGold Afternoon Fix 35 years weekly linear chartGold Afternoon Fix 35 years weekly log chartGold Spot 10 years weekly linear chartGold Spot 5 years weekly linear chart, Fibonacci levels.Gold Spot daily linear chart, Fibonacci levels
Dear readers,Running this blog since late 2005 I have tried to cover many different subjects which all relate to gold. From weight and purity, through science and forex, to central banks and derivatives- Many different topics are covered.However, Gold is a basic economic element and as such is affected and influenced by so many factors. This is why I have constantly linked to other information
Seems to me that gold is ready for some pullback. My intraday Elliott wave count indicates a completion of intraday wave III. Good support at 667$.XAUUSD Intraday ( 4 hr candles) Chart , click chart to enlarge.
Just a quick update for this very important ratio... Bullish: note the 50/ 200 MA crossover on the weekly chart, this crossovers doesn’t happen too often. PPO is bearish but above zero, RSI at 50. Short term might drop some but going higher. Minimum target = 15, 18 month time frame.Related:Previous gold / oil ratio chartsPrevious crude oil charts
Dear readers,The gold price climbed above the previous day high & monthly high to reach ~ 681.5$ for gold spot. Silver rallied to 14$. A new two plus years high for the EURUSD might explain that. Obviously that immediately negated yesterday top indication. However, please note that on an intraday and maybe also daily basis gold and silver can correct to the uptrend support for any reason or none
Gold opened with a gap down filled it, made a new high then closed near the day low. The futures volume was low and most of the volume was coming on the down side. From my experience days like this are short term tops candidates (more often then not). Silver was doing better but bumped into short term resistance at spot 13.85$, USD Index trying to rally, Crude Oil down, XAU & HUI unchanged. CBOT
The street TRACKS Gold Shares (NYSE: GLD) is the largest Gold ETF in the world, This fund currently holds 494.56 tonnes of gold (15,900,551 oz) which worth about 10,708,379,381 $.Closely tracking the spot price of gold (less fees) the GLD is up trending since October 2006, while significant pullbacks took place along the way the line connecting the October low and January low remains a buying
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