Gold News
This morning we mentioned that the World Gold Council released their Q1 gold demand numbers. You can read the full detailed report here (recommended). The first chart caught our eye because it confirms what many have been saying, namely that all the selling in gold has been of ‘paper’ gold. (click for sharper image) In [...]
After the late in the afternoon turnaround in the gold price last Friday gold has drifted lower today but still nicely off the lows from last week. Gold $ (weekly): (click for sharper image) But it is gold priced in ¥ that has really caught our eye today. After getting as low as ¥143,291 last [...]
The gold price is still holding steady above $1600 after the ‘pop’ higher at the monday open following the announcement that Cypriots have had their bank accounts frozen over the weekend just gone. As it stands there has been one failed attempt to pass a law to retroactively to make it ‘legal’ for the government [...]
The gold price in pounds has been holding up much better than the dollar price thanks to the continued weakness in the pound in the currency markets. It’s looking to close out the week around the £1050 level – exactly where we closed last week. It now means that that gold is up some 2% [...]
Yesterday we pointed out that despite gold’s recent pull-back an interesting parabolic line of support, starting in 2001, remained firmly intact. So we thought that we’d take a look at the silver market and see if there is a similar parabolic trend. Here’s what we found… Silver $ (weekly): (click for sharper image) We can [...]
For regular readers the ratings downgrade in the UK late on Friday shouldn’t have been much of a surprise at all. Last Wednesday we wrote a note titled ‘UK downgrade in 3… 2… 1…?’: We’ve been banging the drum for over a year that the UK should be downgraded because the government has in no [...]
Much like in the gold price the silver price has been trading in a long-term range over the past 16 months with the $35 level marking the top and the $27 level marking the bottom. There have been three failed attempts at breaking above the $35 level and three failed attempts to break below the [...]
We encourage all our readers to check out Money Week’s article titled ‘The End of Britain’. We’ve never seen such a negative article on the prospects of the UK economy appear in a mainstream publication, and in fact it covers many of the points you’ve read on these pages over the years – namely that [...]
After a break lower through the rising support level at the start of the week the silver price quickly fell to its short-term support level around $30.75. Silver tried to rally off this level on tuesday but yesterday fell back again to that support level. This morning silver has bounced once again off that level [...]
Whilst we totally agree that this looks very much like a ‘punchy’ call there is actually some encouraging action in the gold price that might suggest that the bottom might be in for the year. Gold (daily): (click for sharper image) Since mid-December there have now been five occasions when the gold price has dipped [...]
