Archive for 2014

Gold dropped significantly this week, down to $1,249.60 per ounce – a four month low. Gold slipped on upbeat economic data coming out of the US this week. Technical selling then took control as gold breached support levels. We mentioned the importance of watching the US dollar, which also strengthened this week. Geopolitical risk has lowered a little bit with Russia pulling troops out of Ukraine.

Technicals:
50-day moving average: $1,295.53
200-day moving average: $1,298.02
Support: ...

Gold continues to be stuck in the $1290-$1305 range which is up about 7% year to date. Gold bulls are looking at the Ukraine elections this weekend as a possible catalyst. Meanwhile, gold bears continue to argue that the slowly improving US economy is bearish for the yellow metal. Sales of US homes increased 6.4%, which is the highest since October, resulting in only a $2 drop in gold prices Friday. Also ...

It was another fairly quiet week for the gold price which closed at $1293.40 Gold has been in a tight trading range since the end of March. No major catalysts have occurred to move gold one way or the other. Investors will be closely watching the FOMC minutes for April this week.

India, the world’s second biggest gold consumer, held its elections on Friday. It is expected that import restrictions on gold may ...

Gold had a fairly quiet week closing at $1287.60, which is down from last week’s close of $1302.90. Weakness was mainly driven by positive economic comments from Fed Chair Janet Yellen.Gold has been trading in a fairly tight range the last several weeks with the average price in April being $1299/per ounce and May so far coming in at $1289.90/ounce. Tensions between Russia and Ukraine continue to support gold as a safe ...

Gold continues to trade around the $1,300 level and closed at $1,302.80. The gold market moved higher on Friday as tensions between Russia and Ukraine escalated. As far as physical demand goes, premiums in India are rising due to tight supply ahead of the second biggest buying festival of the year, Akshaya Tritiya (May 2nd). In China, demand is ...

A little bit of volatility in the gold price this week occurred as gold closed on Thursday at $1294.60, down from the previous close at $1,318.40 per ounce. April 15th was an interesting day as gold dropped $27 to close just under $1,300.  It appears three large sell orders caused the drop shortly after the New York market opened. ...

It was another relatively quiet week for the gold, which closed at $1,318.40 per ounce from last week’s close at $1,303.50. It’s interesting to see gold close near a three-week high while the U.S. dollar index is near a three-week low. Gold traders always need to pay attention to the U.S. dollar, as historically, gold tends to trade inversely ...

Gold finished the week at $1,303.50, up $9.70 from last week’s close at $1,293.80. It was a relatively quiet week as traders awaited the U.S. jobs data on Friday. Non-farm payrolls came in at 192,000 new jobs last month, which was below the expected 200,000. The unemployment rate was unchanged at 6.7%. The lower than expected data gave gold ...

It was a fairly quiet week for precious metals. After closing at $1,336 last Friday, gold finished this week down 3.2% and closed at $1,293.80. Silver closed at $19.79, down 2.6% on the week. Gold exchange-traded products continue to experience net inflows with 9.6 metric tons added so far in March. Physical demand is expected to be strong on any ...