CNBC Fast Money (Brian Kelly) gives a brief history lesson on silver and says $130 a possibility...
Gold continued to rally on Monday as investors attempted to hedge themselves against the fallout of the growing MENA tensions. In Asian overnight trade, the start of the week saw an extension of precious metal gains, although trading volumes were relatively low.Markets have shrugged off talk of social unrest in China, after Premier Wen pledged to root out corruption and ensure a more equitable distribution of the gains of economic expansion. Even comments that the annual economic growth target would be lowered to 7% failed to discourage investors in Chinese equities. However, this should be a negative for the commodities complex,
although more so for the base metals.
For today, headlines in the MENA region should continue to influence investor participation in precious metal markets. However, US income and spending data, if particularly encouraging might dampen investor interest. The US consumption expenditure deflator will also be watched closely for emerging signs of inflation. A sharp increase might prompt further interest in precious
metals from an inflation-hedge perspective.
Gold support is at $1,403 and $1,395. Resistance is at $1,416 and $1,420.
Silver Ebay and Market . 3-5 years ago the mantra was buy as much silver for your money and avoid the slightly higher premiums at the time for smaller denominations. As the market has heated up this has turned out to be not the correct advice. Not only did one receive a higher premium whan selling smaller denominations but toay the premiums for smaller denominations have increased anywhere from 5-8 fold while premiums have only doubled for larger bars of silver
This talk is truly the most throrough explanation of the Silver Market I've seen so far. Too bad the quality is not good enough to see the details of the screen numbers David Morgan uses.This is a good one to send to folks who are just getting into silver.
SLV scam exposed. Investment fraud, stock market scams, economic collapse, inflation, deflation, Gerald Celente, Jim Rogers, Robert Prechter, Alex Jones, Charlie Sheen, Michael Savage, Max Keiser, silverfuturist, visionvictory, Mike Maloney,Gadaffi, gold, silver, hyperinflation, bank holiday, bank run.
David Morgan talks to Jim Puplava about the silver market and the shortages in the .9999 fine industrial silver
buy silver crash jp morgan max keiser
recorded on February 25th 2011
buy silver crash jp morgan max keiser
recorded on February 25th 2011
Hedge fund billionaire John Paulson has invested more than $4 billion dollars in Gold . With most bullion than most small countries . He made $158 dollars every second last year . He believes the price per ounce could reach $2400 within the next two years ....
Backwardation in silver makes it very bullish explains Bob Chapman "silver bullion" silver "silver coins" "gold coins"
Ned Naylor-Leyland, Partner at Cheviot Asset Management, and James Turk, Founder/Chairman of GoldMoney and Director of The GoldMoney Foundation, discuss the practicalities of implementing gold and silver as money. Ned sees a role for gold and silver as so-called settlement currencies. Watch the whole 21-minutes interview at http://www.goldmoney.com/naylor-leyla.
Alaska Gold Rush Season Finale Fred's the man, these boys are lucky he showed up or they'd got nothing at all for their troubles.
Alaska Gold Rush Season Finale from Joe Safety on Vimeo.
Alaska Gold Rush Season Finale from Joe Safety on Vimeo.
Gold, Silver set for further price appreciation : Patriot Radio News Hour .I enjoy listening to these guys as they speak truth with a side of humble pie.
Richard Russell, the man behind Dow Theory Letters talks about the depreciation of the dollar and why he feels safe holding gold at the Casey Research Gold and Resource Summit , What that in the 70s-80s what was driving the gold market was the fear of inflation. Today its the fear of the collapse of the dollar.
Fears of unrest spreading to other oil-rich nations and the associated inflationary consequences of higher oil prices are keeping investors interested in precious metals. After a brief sell-off overnight on speculation that the turmoil in Libya might be coming to an end, gold and silver rebounded, supported by a relatively weaker dollar. Some physical buying in the dips havehelped the metals recover, although in general physical market participants remain net sellers.
Rumours of further momentary tightening in China (in the form of currency appreciation) have caused a knee-jerk sell-off this morning.
According to our analysis, currency appreciation has the most damaging effect on commodities of the monetary tightening alternatives available to Chinese authorities. We still see only limited scope for China to appreciate its currency without risking a marked erosion of its industrial competitiveness. Therefore, we view credit rationing as the more serious threat to commodity prices. In addition, our analysis reveals that it is the base metals that will suffer the most from Chinese monetary conservatism. For now these rumours will add to the volatility induced by Middle East concerns.
Gold support is at $1,392 and $1,379. Resistance is at $1,419 and $1,431.
Jim Comiskey's Gold and Silver Market Update : Lind-Waldock Strategist Jim Comiskey discusses the metals futures markets.
NEW YORK (TheStreet) -- How To Trade Gold at High Prices - Scott Redler, chief strategic officer for T3Live.com, reveals how he's trading gold as prices hit 2011 highs.
Gold and silver prices trying to hold onto their rally -- of gold in Mexico in the spot break up -- over dollar. Joining me where the trade got rather keep strategic -- their TP live dot com. I got have stalled out here for a goal of reaching a hyper 2011 around 1417. In varying margins but it -- how much.
Gold and silver prices trying to hold onto their rally -- of gold in Mexico in the spot break up -- over dollar. Joining me where the trade got rather keep strategic -- their TP live dot com. I got have stalled out here for a goal of reaching a hyper 2011 around 1417. In varying margins but it -- how much.
Silver is hitting a new 30-year high. But Sean Brodrick sees something that could know silver prices lower in teh short-term, and that would give you a great profit opportunity.
No silver left to go around says Eric Sprott and the numbers prove it
Speaking at the Casey Research Gold and Resource Summit, Eric Sprott told investors that there is no more silver left to go around, "There's $22 billion of silver available in the world, of which the ETFs already own half, and between you guys and us we probably own the other half... Which means there's nothing left."
Speaking at the Casey Research Gold and Resource Summit, Eric Sprott told investors that there is no more silver left to go around, "There's $22 billion of silver available in the world, of which the ETFs already own half, and between you guys and us we probably own the other half... Which means there's nothing left."
We've seen a large jump in inflation expectations since the start of the week on the back of higher oil prices. Since Monday, 1y US breakeven inflation jumped 30 bps, to 2.37%. At the same time, implied real interest rates in the US declined substantially, well into negative territory once again. Given that- Inflation until now remained largely absent in the US, and
- The US Fed doesn't target inflation explicitly, the likelihood of the US raising nominal rates remains small.
Given that the Fed looks at inflation and employment, we read the decline in probability of a rate hike as concern over growth — much of this comes on the back of a rising oil price. These growth concerns could continue to weigh on industrial metals until crude oil settles down. Putting Middle East risks (which no doubt are supporting gold, too) aside, the rapidly declining real interest rate is bullish for gold. We believe that gold remains a buy on dips. Only at $1,440 we would start considering gold overvalued from a fundamental perspective.
Gold support is at $1,399 and $1,387. Resistance is at $1,420 and $1,429.
Feb. 22 2011 | Gold & Silver : Cling to Commodities in a Crisis Martin Hennecke, associate director at Tyche, expects a sovereign debt crisis in the U.S. and Europe, and consequently advises to hedge against such crises by investing in precious metals and energy. These safe bets give you freedom to take risks on other opportunities he explains to CNBC's Chloe Cho, Anna Edwards and Yousef Gamal El-Din.
James Turk with Chris Waltzek - February 23, 2011
James Turk is founder of GoldMoney.com, which operates the leading digital gold currency. He also publishes the Freemarket Gold & Money Report, an investment newsletter he founded in 1987. Previously, after a decade with the international department of Chase Manhattan Bank, he managed the commodity department of the Abu Dhabi Investment Authority. His media appearances include GoldSeek.com, CNN, Bloomberg, CBSMarketWatch, CNBC, Barron’s, the Wall Street Journal, and Financial Sense Online.
James Turk is founder of GoldMoney.com, which operates the leading digital gold currency. He also publishes the Freemarket Gold & Money Report, an investment newsletter he founded in 1987. Previously, after a decade with the international department of Chase Manhattan Bank, he managed the commodity department of the Abu Dhabi Investment Authority. His media appearances include GoldSeek.com, CNN, Bloomberg, CBSMarketWatch, CNBC, Barron’s, the Wall Street Journal, and Financial Sense Online.
Feb. 23 2011 | Kelvin Tay, chief investment strategist, Singapore at UBS, says gold must breach a specific price point before other metals move significantly higher. He shares his thoughts, with Daryl Guppy, CEO of Guppytraders.com and CNBC's Karen Tso and Martin Soong.
NEW YORK (TheStreet) -- Mihir Dange of Arbitrage reveals his new price targets for silver and how he's trading the metal.
Silver prices keep popping two new thirty year -- you might he's the top or booked some profits to any need for the trade at the nymex -- Don gab arbitrage. -- here's the settling at thirty around 33 on Tuesday after hitting intra day high of 34 33 big ranges here having run too far too fat.
Silver prices keep popping two new thirty year -- you might he's the top or booked some profits to any need for the trade at the nymex -- Don gab arbitrage. -- here's the settling at thirty around 33 on Tuesday after hitting intra day high of 34 33 big ranges here having run too far too fat.
Profit-taking and better-than-expected US Consumer confidence figures pushed Gold lower yesterday. The Conference Board’s consumer confidence measure jumped to 70.4 in February, from a revised 64.8 in January. This encouraged optimism that the US economic recovery might be gathering momentum as households increase spending. Richmond Fed Manufacturing data also pointed to a stronger US economy. This most likely dampened investor enthusiasm for the relative safety of Gold.However, these cautions have been forgotten and it appears as if precious metals are once again headed upward. Continuing tensions in Libya and other parts of the MENA region are keeping investors interested, even thought we’ve seen some exchange-traded fund selling. The outlook remains bullish for today, with the added benefit of a weaker dollar. Although with physical demand generally weaker, key resistance levels could prove hard to break.
Gold support is at $1,390 and $1,382. Resistance is at $1,409 and $1,419.
Uploaded by GoldMoneyNews on February 21, 2011
Chris Powell, Secretary/Treasurer of http://gata.org, is asked by James Turk, Director of The GoldMoney Foundation and Founder of GoldMoney if we're heading towards a monetary train wreck. Chris expects the central banks to mobilize gold back into the monetary system. This would perhaps mean a new currency arrangement and a revaluation of the gold reserves. View the full 34-minutes interview at: http://www.goldmoney.com/powell-turk
Chris Powell, Secretary/Treasurer of http://gata.org, is asked by James Turk, Director of The GoldMoney Foundation and Founder of GoldMoney if we're heading towards a monetary train wreck. Chris expects the central banks to mobilize gold back into the monetary system. This would perhaps mean a new currency arrangement and a revaluation of the gold reserves. View the full 34-minutes interview at: http://www.goldmoney.com/powell-turk
After a strong performance yesterday, precious metals lost momentum in early morning trade. The desire to take profits after the recent highs has proved irresistible for some investors which, coupled with a stronger dollar, has pushed gold and silver below their respective key levels of $1,400 and $33. In the physical market for gold, we have seen selling outpace buying for the first time in four weeks.
Reports that China has asked banks to recalculate capital levels might also have raised concerns over global liquidity, dampening demand for precious metals. The concern is that this may result in some banks falling short or much closer to minimum capital adequacy requirements, and consequently a reduction in lending. Should this materialise, it would be bearish for commodities,
although base metals could be the hardest hit.
Despite the dip in prices, we do not believe that the upward trend has completely run its course. Geopolitical tensions in the MENA region continue to fester, keeping risk aversion elevated (as evident in the poor performance of equities across the globe) and enhancing the appeal of safe-haven assets. In addition, the surge in oil prices is keeping fears of rising global inflation
alive.
Gold support is at $1,391 and $1,381.
NEW YORK (TheStreet) -- Phil Streible, senior market strategist at Lind-Waldock, reveals how he would be trading gold and silver as the metals continue to rally.
Gold prices breaking 14100 silver at thirty year highs. Doing these bills -- senior market that is at and while not now let's -- up with silver here spot price of about fifteen so right down 59 cents but -- after a rally at 3433. On Monday. Big move in the last week aren't trading right now.
Phil Streible, :....You don't look -- have really taken profits up at these levels here and that's something you rarely hear me say. I think prices that moved a little bit too far too fast. On other people disagree with me but I'm looking at somebody outside markets -- BS and 500 down significantly. All the rating market's getting hit some of the other metals like copper platinum palladium or -- look on -- a significant amount of pressure and it beat that this could be a soda for some kind of reversal. On on the silver market which could have some blacks are specially with some guys that -- to -- getting in. Running out of cash generating margin calls and I think silver prices -- a little bit weaker.
Gold prices breaking 14100 silver at thirty year highs. Doing these bills -- senior market that is at and while not now let's -- up with silver here spot price of about fifteen so right down 59 cents but -- after a rally at 3433. On Monday. Big move in the last week aren't trading right now.
Phil Streible, :....You don't look -- have really taken profits up at these levels here and that's something you rarely hear me say. I think prices that moved a little bit too far too fast. On other people disagree with me but I'm looking at somebody outside markets -- BS and 500 down significantly. All the rating market's getting hit some of the other metals like copper platinum palladium or -- look on -- a significant amount of pressure and it beat that this could be a soda for some kind of reversal. On on the silver market which could have some blacks are specially with some guys that -- to -- getting in. Running out of cash generating margin calls and I think silver prices -- a little bit weaker.
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In 2011 China's investment in gold could rise by 40-50 per cent
The statistics of the World Gold Council (WGC), published recently in Gold Demand Trends report, show that China's demand has become very explosive especially in investment, in other countries after the boom of 2009 there was a setback (the overall figure shows a decrease of 2% to 1,333.1 tons, a decrease by as much as 45% for ETFs), while the People's Republic of fear of inflation combined with the lack of alternative investment has produced a real own gold rush. The Chinese have bought 179.9 tons. bars, ingots and coins, 70% more than in 2009, surpassing the United States and Germany. In 2011 China's investment in gold could rise another 40-50 per cent.
China, nevertheless, is still far from being able to oust India from the podium of the first consumer of the yellow metal. The impressive recovery in demand in New Delhi makes this objective even harder for China : +66% in 2010 to 963.1 tons, almost everything related to jewelry.
The gold in 2010 reached a record $ 1,432.50 per ounce in December. After starting the year down in recent days - especially supported by the unrest in the Middle East - is above $ 1,380 / oz. "It seems that consumers, especially the larger ones, namely India and China, have become accustomed to higher prices . The high prices seem to even have provided an extra motivation to buy gold, described as an investment asset quality. "
Max Keiser takes on Jon Nadler of KITCO
Nov 2006: Jon Nadler predicted gold average to be $800 per ounce for 2010. The 2010 high was $1,423 & the low was $1,061.
Oct 2008: Nadler predicted gold to be in the low $500 an ounce range in 2010 LOL.
Dec 2008: Nadler predicted 2009 price of gold average would be $810 per ounce. Wrong again. 2009 average was $972.
May 2010: With gold at $1200, Nadler predicted 2010 price would end "between $680 and $880." LMAO!
Jon Nadler : Nadlerisms : An analysis of the Kitco Spokesman : What has he said, and was he right?
Nov 2006: Jon Nadler predicted gold average to be $800 per ounce for 2010. The 2010 high was $1,423 & the low was $1,061.
Oct 2008: Nadler predicted gold to be in the low $500 an ounce range in 2010 LOL.
Dec 2008: Nadler predicted 2009 price of gold average would be $810 per ounce. Wrong again. 2009 average was $972.
May 2010: With gold at $1200, Nadler predicted 2010 price would end "between $680 and $880." LMAO!
Jon Nadler : Nadlerisms : An analysis of the Kitco Spokesman : What has he said, and was he right?
An escalation of tensions in the MENA region over the weekend has heightened the safe-haven appeal of precious metals. Protests continue in Bahrain, while demonstrations have been met with violence in Libya. Unrest is also beginning to surface in Morocco. Gold managed to reach a 7-week high, while silver rose to its highest level in three decades. Palladium reached a 10-year peak.Adding to investor demand are also concerns over rising inflation in Europe and the emerging markets. While tightening of monetary policy in China was initially met with a knee-jerk reaction to the prospect of reduced global liquidity, it is now the implications that this has for the global inflation outlook that are being focused on. In addition, rising oil prices, on the back of MENA tensions, are further fuelling inflation worries.
The strong rally in prices has seen an increase in physical selling of gold. However, the drop-off in buying has been relatively sedate, indicating that physical demand remains in place.
Gold support is at $1,388 and $1,380. Resistance is at $1,399 and $1,401.
Gold tends to penetrate the barrier of $ 1400 because of unrest in the region
Gold prices continued to rise , and reached its highest level in seven weeks on Monday with the continuation of protests in the Middle East, which has increased the demand for the metal as a safe haven, while silver and platinum rose to historical high levels in light of expectations of growth in industrial demand.
Continued gold gains after surging nearly three percent in the last week, is expected to continue to rise with new reports from North Africa and the Middle East, the United States market closed on Monday because of the holiday.
higher gold prices are also due to real concerns about the supply of oil in Libya or subjected its oil facilities to disrupt or stop because of the protests, oil prices could move to record highs because of the deteriorating situation in Libya, which worried also the metals markets. "
Analysts point out that the entry of world's central banks has become the largest buyers of gold to boost their reserves of precious metals, The data of the World Gold Council released on the seventeenth of February has revealed that the growth of gold demand in the Middle East increased by 39% during the fourth quarter of last year.
Gold was used as a "reserve currency" and an inflation hedge because it could hold its value over hundreds if not thousands of years ...
Why invest in Gold , because Gold is :
* Is portable and divisible. Its weight easily determine the value of the object;
* Is indestructible;
* Is easily recognizable and acceptable form of payment.
Whether in times of crisis and in times of prosperity, gold endures. The cyclical nature of the market is a historical fact and discharged, but gold is able to maintain its value over time. By contrast, many currencies (including the U.S. dollar) and industrial raw materials have generally lost value. This is because gold is often bought to hedge the risks of inflation and currency fluctuations and also because many investors around the world see gold as a safe haven of last resort, safe and important part of their investment portfolio. The 'gold maintained its value against the U.S. inflation rate over the past 200 years.
In other words, the value of gold - or what you can buy goods or services - has remained fairly stable over time. For example, a man dress in 16th century England at the time of King Henry VIII cost the equivalent of one ounce gold price that you can now also pay for a modern dress.
Safe haven
Gold is known as a safe haven. Throughout history, national currencies have been considerable fluctuations while gold remained fairly stable. Is not directly affected by the economic policies of each country and can not be repudiated or frozen as in the case of some paper assets. For these reasons, one quarter of all gold held by the existing governments, central banks or other official institutions in the form of international monetary reserves. Nothing suggests that the ability of gold to maintain its value will change over time in the future, although for some time, the U.S. dollar as currency and the Swiss Franc have become increasingly attractive stores of value.
High liquidity
Gold is one of the world's economic goods more "liquid". It can be readily sold at 24 24 hours in one or more markets around the world. This can not be said for other types of investments including bonds or shares of major companies and organizations worldwide. In addition the commission on gold sales are comparable to those of stocks and bonds (securities deemed liquid). Finally, the time required to perform is that gold equities or bonds, and virtually identical.
AngloGold Ashanti (AU) posted a decline in fourth quarter headline earnings today, to $294 million, compared to $303 million in the third quarter. Productions costs for the Johannesburg-based gold miner rose in the fourth quarter, to $672 per ounce, compared to $642 per ounce in the third quarter.
The price of gold is constantly changing but right now it's headed up.
The price of gold is constantly changing but right now it's headed up.
Gold continue to benefit from safe-haven buying as unrest in the MENA region continues to dominate headlines. Silver moved aggressively, posting the best performance among precious metals, as pent-up investor demand was unleashed. Worse-than-expected US jobless claims and leading indicator numbers most likely added to investor demand. Initial jobless claims rose to 410k (consensus: 400k), from a revised 385k previously. The leading indicator pointed to a slowdown in the US recovery growing by only 0.1% m/m in January (consensus: 0.2% m/m), from December’s downwardly revised increase of 0.8% m/m.
The expected benign US inflation reading may have dampened the inflation-hedge buying we’ve seen earlier in the week, but this has been more than offset by increased risk aversion pushing investors into the safety of gold and silver. Momentum though is waning, especially after the announcement by Chinese authorities of a 50 bps increase in reserve requirements. While this is bearish for commodities in general, it is base metals that are generally worst hit. In addition, we find that credit rationing and renminbi appreciation are far more harmful.
Gold support is at $1,377 and $1,370. Resistance is at $1,388 and $1,395.
The expected benign US inflation reading may have dampened the inflation-hedge buying we’ve seen earlier in the week, but this has been more than offset by increased risk aversion pushing investors into the safety of gold and silver. Momentum though is waning, especially after the announcement by Chinese authorities of a 50 bps increase in reserve requirements. While this is bearish for commodities in general, it is base metals that are generally worst hit. In addition, we find that credit rationing and renminbi appreciation are far more harmful.Gold support is at $1,377 and $1,370. Resistance is at $1,388 and $1,395.
Upward momentum in gold stalled yesterday, as the release of last month’s FOMC minutes brought into question the Fed’s commitment to its accommodative monetary stance. The report suggested that there had been differences amongst members on whether data pointing to a stronger recovery might warrant a reduction in the planned $600bn monetary stimulus.Nevertheless, the general consensus on the FOMC remains cautiously optimistic and that recent data flow did not change the outlook sufficiently to substantiate a change in QEII plans. Since yesterday’s fall, gold has been pushed higher on global inflationary concerns, and amid fresh geopolitical concerns prompted by allegations that two Iranian warships were heading via the Suez Canal to Syria. The latest news is that this will not be happening, although this highlights the sensitivity of markets to tensions in the MENA region. This should continue to provide for support precious metals.
Gold support is at $1,370 and $1,362. Resistance is at $1,385 and $1,391.
Gold have been buoyed by rising tensions and the threat of political instability spreading across the MENA region. This has dampened appetite for risk and seen renewed safe-haven buying of precious metals. The lower-than-expected print of China’s consumer inflation has also emboldened investors as fears of monetary tightening (and consequently lower global liquidity) have eased.However, we would caution that the threat of monetary conservatism in China is still very real. Yesterday’s new yuan loans data was particularly weak on a seasonally adjusted basis. In addition, producer inflation rose by 6.6% y/y, much more than expected and a sign of mounting pipeline inflationary pressures. As such, we believe that China’s monetary tightening is set to
continue and will remain a weight on commodities, although more so for base metals than precious metals. From an inflation-hedge perspective, precious metals received a boost this morning from UK inflation figures. CPI rose to 4% y/y (in line with consensus estimates), marking the fourth straight month of increase. This has raised investor concerns over the threat of global inflation, inducing demand for precious metals.
Gold support is at $1,358 and $1,350. Resistance is at $1,371 and $1,375.
Precious metals were dealt a blow as safe-haven demand fell away on the news that Egypt’s president, Hosni Mubarak, has stepped down. With equities and equity futures on the up, it seems as if risk appetite is firmly entrenched, leaving little potential for gains in precious metals today. Nevertheless, physical buying should provide support levels. For gold, we find physicalinterest emerging below $1,360.
Gold support is at $1,352 and $1,346. Resistance is at $1,367 and $1,375.
Although trading down for most of yesterday, precious metals made a strong rebound in the afternoon session. The betterthan- expected jobless claims numbers were largely ignored, as risk appetite waned and safe-haven buying resumed. Although activity in China remains muted, there was evidence of strong interest for silver. This contributed to silver’s push above thepsychological $30 mark. At these prices though, not much physical demand is forthcoming.
Inflation concerns are once again returning to view, as investors anticipate next week’s release of Chinese price data. Expectations are for the upward trend in both consumer and producer inflation to continue (consensus estimates are 6.2% y/y and 5.4% y/y, respectively). China’s recent rate hike is also fuelling these inflation worries. This is providing support for precious
metals, especially gold, as investors seek to hedge against rising global prices. The ongoing political instability in Egypt is also contributing to increased interest in precious metals, as investor uncertainty leads to greater risk aversion. With more protest planned, this should continue to provide some lift.
Gold support is at $1,353 and $1,345. Resistance is at $1,369 and $1,375.
Trade in Gold was rather uninteresting yesterday. Bernanke’s testimony to the House Budget Committee did spark some volatility, although ultimately prices ended the day mostly flat. As expected, Bernanke’s statement revealed nothing new about the Fed’s stance on the US economic recovery and its commitment to monetary accommodation.Although risk appetite appears to waning, investment demand for precious metals is not forthcoming. Physical demand too, especially in Asia, remains on the sidelines. With little buying to counter it, a resurgence in the dollar is pulling the complex down, exacerbated by some light profit-taking. Perhaps the lack of interest in China, after the return from holidays, is also contributing to investor unease. While we only expect a pick-up in Chinese trading from Monday, we would caution that there is a risk that this will disappoint.
As always US jobless claims data might prompt some price action, with disappointing numbers providing limited lift. Gold support is at $1,357 and $1,352. Resistance is at $1,367 and $1,372.
Gold sustained a fall of $78 (on a fi xing basis) or just over 5% during January under investor liquidation and a build-up of short positions as a result of improving economic confi dence. Extremely strong demand in China and India particularly helped to cushion this fall. This demand is now on the retreat, pointing to the likelihood of further price falls in February.Conditions are likely to be volatile given the frequent shifts in the economic and political environment, with tests of $1,300 a possibility, although we adhere to our medium-term bullish stance.
Trading in gold remains lacklustre, with investors hesitant to commit. While appetite for risk seems to be growing, gains in equities remain modest, indicating that markets remain apprehensive. For now, this uncertainty is preventing a strong sell-off of gold. Some dollar weakness is providing some support, although, given the lack of both investor and physical interest, we don’t expect this to push prices significantly higher.As copper shows signs of weakness, silver has begun to lose momentum. Currently, silver seems to be trading more in line with the rest of the precious metals complex.
Gold support is at $1,345 and $1,339. Resistance is at $1,355 and $1,359.
Amid a knee-jerk reaction to the very poor headline non-farm payroll numbers. However, a closer look revealed that bad weather during the survey week had depressed the payroll statistics. In addition, the drop in the unemployment rate to 9%, from 9.4% previously, once again fuelled hopes of a strengthening economy and saw gold prices fall back towards their early-afternoon levels.
With the US economic data still pointing towards a general recovery, the easing of tensions in Egypt has contributed to an increase in risk appetite. This has helped support the equity markets, but is also keeping precious metals on the back foot. The notable exception however is silver, which is benefiting from its semi-industrial nature and is looking more towards copper for direction. Copper is trading comfortably above the $10,000 (after touching new highs), on the back of global recovery hopes.
Gold support is at $1,343 and $1,337. Resistance is at $1,357 and $1,364.
Gold jumped to two-week highs on week before CNY, buoyed by political unrest in Egypt and comments by Fed Chairman Bernanke.However, technical trading, which might have triggered some short covering, was most likely responsible for the speed and extent of the move in gold.
Bernanke acknowledged that economic growth was accelerating and stressed that without a faster decline in US unemployment, the Fed remained unsure of the sustainability of the recovery. His comments allayed fears over any early scaling down of the Fed’s planned $600bn in monetary stimulus. This confirms our view that an increase in global liquidity (though at a
slower pace than 2010) leaves room for gold to push higher in 2011. We target $1,500 during Q3:11.
For today, expectations that a positive trend in US data flow may continue (with this afternoon’s non-farm payrolls release) are weighing on Gold. Given our bullish view for the year ahead, we would advocate buying on these dips, but warn that further near-term weakness is still likely because of poor physical market activity.
Gold support is at $1,332 and $1,313. Resistance is at $1,364 and $1,375.
Bernanke acknowledged that economic growth was accelerating and stressed that without a faster decline in US unemployment, the Fed remained unsure of the sustainability of the recovery. His comments allayed fears over any early scaling down of the Fed’s planned $600bn in monetary stimulus. This confirms our view that an increase in global liquidity (though at a
slower pace than 2010) leaves room for gold to push higher in 2011. We target $1,500 during Q3:11.
For today, expectations that a positive trend in US data flow may continue (with this afternoon’s non-farm payrolls release) are weighing on Gold. Given our bullish view for the year ahead, we would advocate buying on these dips, but warn that further near-term weakness is still likely because of poor physical market activity.Gold support is at $1,332 and $1,313. Resistance is at $1,364 and $1,375.
Gold and silver managed to shrug off better-than-expected US personal spending data, and regained some ground in Asian trade. Rising tensions in Egypt have fuelled uncertainty and pushed oil prices higher, threatening the global economic recovery.
This has seen investors return to the relative safety of precious metals, with some exchange-trade funds seeing a rise in gold holdings after last week’s consistent outflows. With fairly thin trading in Asia though, ahead of Chinese New Year celebrations, gold has not managed to push beyond the $1,350 level, while silver is meeting similar resistance at $28.50. For today, a weaker dollar and continuing turmoil in the Middle East should provide some lift to Gold. However, a strong US ISM manufacturing reading might discourage interest, especially in gold. Analysts are expecting an increase to 58.0 in January. ISM data on prices might be of secondary significance as markets look for signs of inflationary pressures.
Gold support is at $1,325 and $1,312. Resistance is at $1,350 and $1,359.
This has seen investors return to the relative safety of precious metals, with some exchange-trade funds seeing a rise in gold holdings after last week’s consistent outflows. With fairly thin trading in Asia though, ahead of Chinese New Year celebrations, gold has not managed to push beyond the $1,350 level, while silver is meeting similar resistance at $28.50. For today, a weaker dollar and continuing turmoil in the Middle East should provide some lift to Gold. However, a strong US ISM manufacturing reading might discourage interest, especially in gold. Analysts are expecting an increase to 58.0 in January. ISM data on prices might be of secondary significance as markets look for signs of inflationary pressures.Gold support is at $1,325 and $1,312. Resistance is at $1,350 and $1,359.
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