Archive for December, 2014

Gold was up slightly on the week at $1196.10 thanks to a strong push during the shortened session on Friday.

Frank Holmes, in his weekly roundup with US Global Investors, published an interesting note on gold. Even though it feels like gold has been going sideways all year, it is actually the second best performing currency on the year besides the US Dollar.

That said, ...

Gold started the week by wiping away all of the gains made the week prior, as investors poured back into the US dollar ahead of the FOMC meeting. Gold was down $30 on Monday, which essentially set the tone for the rest of the week. Upon the FOMC announcement gold fluctuated as the market digested Yellen’s commentary and eventually it trended lower as investors decided to flow into the dollar. Gold momentarily ...

Gold finished off a strong week at $1222.20, up 2.5%. This was a continuation of its recent rally off of the November low of $1131.

On Tuesday, gold broke through a four month down-trend line with conviction, though it encountered resistance at a 50% retracement mark at the $1238 level. This resistance mark also coincided with a test of a stronger five month down-trend line from the July highs. A break above this ...

Gold

After an initial collapse to the $1142 level following the rejection of the Swiss gold referendum, gold went on a rampage finally peaking at a 1-month high of $1221.13. Much to the relief of gold proponents, this near $80 reversal quickly put the price back above $1200 and broke resistance levels in the process.Tempering the strong move on Monday was a series of data points released throughout the week, including the particularly ...