Archive for 2014

 
The yellow metal finished Thursday at $1,312.50 per ounce. So far this week, weakness in general equities and escalating tensions between Russia and Ukraine have pushed gold slightly higher. It is interesting to note that the US dollar traded at its highest levels since September 2013. The European Central Bank announced on Thursday that interest rates will remain low for an extended period of time.
 
In the short term, I ...

It was an interesting week for gold. The yellow metal finished the week at $1,294.80 per ounce, down $13. Gold did get a bounce on Friday, finishing up $13.40 after the US jobs report data was released. The unemployment rate climbed to 6.2%, which could mean the Fed will push back the rising of interest rates. The bounce was not enough to offset losses earlier in the week and marked the third ...

*Note: There will be no charts for gold, silver or platinum this week. Our usual source for this information was down.

A quiet week for gold, finishing the week at $1,307.70 per ounce. The price of gold closed at a five week low, and this marks two consecutive down weeks. Gold bears point to an improving US economy, with better than expected US durable orders for June released this week. US equities continue ...

A volatile week for gold, finishing the week at $1,309.40 per ounce. Gold fell sharply on Monday, as it started the week on a large sell order and profit taking, ahead of Janet Yellen’s testimony on Tuesday. Thursday saw a quick spike due to the news of a Malaysian plane being shot down. Gold bears continue to point to a lower gold price, as the US economy recovers and will raise interest ...

A positive week for gold, as the yellow metal hit four-month highs, closing at $1,337.40. Gold is now up approximately 11% percent in 2014, after losing 28% in 2013. This week is the sixth consecutive weekly gain for gold, as a slow and steady rise is keeping the bulls happy. Gold rallied following the FOMC minutes on Wednesday, which stated QE will likely wrap up in October.

The Indian government has not yet ...

Another week with no substantial move in gold. Gold closed the week at 1320.40, up $3.12 from last week’s close of 1317.18. Stronger than expected US job numbers show the unemployment rate at 6.1%, which would be a six-year low, and has the gold bears out in full force. If you have confidence in the US data, the economy is recovering, which would be bearish for gold. Gold bulls will be looking ...

This was a quiet week for the yellow metal. Gold was up $3 from last week’s close and this week closed at $1,317.18. This week’s weaker than expected US data supported the gold price as the US dollar was under pressure. America’s first quarter GDP came in lower than expected, dropping 2.9%. Traders continue to monitor the situation in Iraq, as well as technical indicators. Respected market analyst, Charles Nenner, has ...

Gold had a solid week, closing at $1,277.40 per ounce. The major contributing catalyst for gold this week was the rising geopolitical tension in the Middle East. Traders and investors in the yellow metal will be keeping a close eye on the FOMC meeting next Wednesday. If gold can move a little higher, it will be back close to the 50 and 200 day moving averages.

Technicals:

50-day moving average: $1,286.20
200-day moving average: ...

Gold closed at $1,252.50 per ounce on Friday, up $2.90 on the week. Not much action in gold this week, although on Thursday gold was up ~1% as the ECB announced a $400 billion Euro lending scheme designed to increase lending to businesses. On Friday, US employment data showed the economy adding 217,000 jobs in May and gold had little reaction. No major economic catalysts are on the horizon for next week, ...