Gold News
The gold price gets back above $1720 and appears to have broken out its week long range. Gold $ (hourly): (click for sharper image) On the hourly chart we can see that buyers have been coming into the market at increasingly higher prices. Today, gold has broken out of that downward sloping overhead resistance level [...]
Whichever way you look at it all of the questions remain so binary these days – never has trading and flipping a coin had so much in common. Mervyn King and Paul Tucker are like Rosencrantz and Guildenstern ~ they keep throwing heads every time QE happens. Of course they will be able to carry [...]
A list kept secret by the Greek government has been released to the Greek press which contains the names of 1,991 Greeks with bank accounts at HSBC’s Geneva branch. Christine Lagarde gave it to former Greek finance minister Giorgos Papakonstantinou in 2010 and this is causing the electorate to once again reconsider their collective “tipping [...]
After brushing with $1700 on wednesday the gold price dipped to $1704 yesterday before quickly heading back higher. There has been good follow through today and after all the fireworks this week gold is looking like closing out the week flat. The fact that $1700 saw some good buying interest and held intra-day should give [...]
Arriving in to see that “Chinese shares are under pressure. SHCOMP & SZCOMP are both down -1.8% & -2.4%. The indices are down on continued talk that regulators will add 10% CGT to QFII investments (discussed for some time)- but talk it will be retrospective. The markets are trading lower on rumour not fact….” ~ [...]
Firstly it should be noted that this is a first estimate and the headline grabbing 1% Q/o/Q GDP growth will no doubt be revised down during the second and third estimates (here’s why). For Q2 2012 the original estimate was for -0.7 Q/o/Q growth, the final estimate raised this number to -0.4%, so first estimates [...]
David Cameron’s comments y’day at PM question time sent the £ markets in to a spin as he suggested more “good news” to come on the data. Well, what was he going to say? – Nonetheless, the market has little to focus so any good news would have always been pounced on. Video on the [...]
Yesterday we thought the gold price would be drawn towards $1700: So the big question is do we get there? As long as there isn’t a rather big drop in stocks causing some liquidation of ‘good’ positions to cover them then this correction will probably bottom out around the $1700 level. And that is exactly [...]
We must be reading a different set of data than the mainstream media because according to them the UK economy is picking up, but from what we’ve been seeing there actually seems to be a noted slowdown of late: Osborne is running a bigger budget deficit this year compared to last year – Tories ADD [...]
The gold price has now pulled-back some 4% from its most recent highs a couple of weeks ago. Yesterday’s $20 drop has really bought the 200 day moving average back into view which is currently sitting around the $1662 level. Gold $: (click for sharper image) Whilst there will undoubtedly be a lot of buyers [...]
