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By Jon Nadler |
January 25, 2013
After having once again failed at the $1,696 resistance level on Wednesday, gold prices headed lower for a third straight session this morning. In the process, the pivotal 200-day moving average price near the $1,608 level was breached by sellers.
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By Jon Nadler |
July 27, 2012
The final trading session of the week opened higher in metals as participants continued to bet that Mr. Draghi’s words will translate into action and that the GDP numbers will be the final motivating factor for the Fed to take action next week.
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By Jon Nadler |
July 13, 2012
The yellow metal is poised to record another weekly loss in value despite this morning’s advance. The SPDR Gold Trust has witnessed an outflow of almost ten tonnes of bullion thus far this month.
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By Dominick Chirichella |
July 11, 2012
EIA lowered their projection for global oil consumption for 2012 and 2013 versus last month's report. It now is projecting a reduction of about 100,000 bpd in 2012 and 400,000 bpd in 2013.
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By Jon Nadler |
April 27, 2012
The US dollar and stock index futures frowned upon the GDP estimate and headed lower. The development may give gold players another chance at trying to go for the assault on the $1,660-$1,675 resistance area.
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By Jon Nadler |
April 23, 2012
Spot gold fell $19 (1.1%) after the opening bell and was quoted at $1,623.50 the ounce. In the background, the US dollar was up 0.40% at 79.53 on the index and crude oil lost $1.02 to ease to the $102.80 level per barrel.
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By Jon Nadler |
April 13, 2012
Yesterday’s “Fedspectations” turned down a notch as market participants had somewhat bigger news this morning; specifically, the story out of China that there has been a sharper-than-expected slow-down in that country’s economy.
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By Jon Nadler |
March 30, 2012
Swiss Bank UBS yesterday trimmed its 2012 gold price forecast by a hefty 18%, down to $1,680 per ounce, as it sees gold as being “at risk.”
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By Jon Nadler |
March 26, 2012
Speculative longs in gold trimmed positions by nearly 81 tonnes and increased short bets by nearly 13 tonnes.
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By Jon Nadler |
March 21, 2012
Gold prices fell toward the $1,645 level at the opening of the midweek session in New York as the US dollar climbed slightly on the trade-weighted index .
