Gold News
On tuesday we put out a piece saying that the “next few hours” for gold would be crucial in determining where the gold price was heading: The next couple of trading session will probably be the most crucial for gold in the entire year. In short the $1660 area simply must hold otherwise gold will [...]
Last week was supposed to be a major week for Europe. We had the ECB meeting on Thursday and then another EU summit to ‘solve’ the eurozone debt crisis on Thursday and Friday. Of course, nothing has changed, nothing has been solved, and quite frankly, I do not see any reasons whatsoever for changing my [...]
Yesterday when gold was trading $1665 we warned: This $1617 level is really the last line in the sand before we might see lower prices. We will have a much clearer idea where gold is heading in the next few hours and days, but right now gold is right at some crucial levels and should [...]
As you can see from the below chart the gold price is trading right on its trend-line for the whole year. This is also pretty much exactly where the 150 daily moving average is also trading right now ($1666). See this from yesterday for the importance of the 150 DMA. Gold price trend for 2011: [...]
The UK is now in the third year of the BoE being above target after today’s release of the UK’s CPI data. CPI came in at 4.8% y/o/y and 0.2% m/o/m. From the release: Consumer Price Indices CPI annual inflation stands at 4.8 per cent in November 2011 • RPI annual inflation stands at 5.2 [...]
The gold price has fallen back to its 150 DMA – a point that has been a great level of support and entrance point for longs in the past 3 years – as stock market sell off and Italian bond yields rise again, as investors come to grips that the two day European meeting last [...]
The headlines said it all this today “PM blocks EU-wide treaty changes” and the assumption is that the EU conference that started yesterday has been a failure. But has it? First of all this conference wasn’t really about fixing the looming debt explosion that just about all EU countries face. After all how could it? [...]
The Bank of England has decided to keep those printing presses working overtime and keep interest rates at 0.5%. This is while CPI inflation is running at 5%, some 3% more than its government mandated target of 2% The BoE also said it will keep it’s money printing facility – also known as the APF [...]
The government funded Office for National Statistics were out today with the UKs production numbers and they don’t make for pretty reading. From the release: Key points • The seasonally adjusted Index of Production fell by 1.7 per cent in October 2011 compared with October 2010. • The seasonally adjusted Index of Manufacturing rose by [...]
This week the gold price has been bouncing around quite a bit. Gold got as high as $1750 on monday only to drop back to nearly $1700 yesterday only to rally back again today to trade around $1730. When you take a step back and look at how gold has performed this year all the [...]
