This week the metals suffered a case of buy the rumour, sell the news as the metals wavered in the face of the Crimea vote and the U.S. federal reserve tapering decision. Several new palladium ETFs launched on Friday, giving the metal a nice push up to $800 per ounce. Palladium has been quite range bounce for over a year, ...
The precious metals got a nice lift this week as all the metals pushed to new 2014 highs. After basing in the mid $1,300s, gold pushed hard this week climbing above $1,385 and closing at $1,378. Impressively, the GLD has had several weeks of positive flow, meaning more money is entering the fund then exiting. This corresponds nicely to ...
The precious metals had a seesaw week as gold, platinum, and palladium pushed higher on Russia-Ukraine tensions and worker strikes in South Africa. Gold tried several times to break through the $1350-$1355 zone, but failed after U.S. employment numbers came in better than expected. Platinum and Palladium pushed higher throughout the week on speculation of lost metal production due ...
March 3: China Non-manufacturing PMI, United States ISM Manufacturing PMI
March 5: Eurozone Q4 and annual GDP, Bank of Canada interest rate and monetary policy statement
March 7: United States Non-Farm Payrolls and Unemployment rate
March 9: China CPI
March 11: Bank of Japan interest rate and monetary policy decision
March 13: United States Retail Sales
March 17: ...
Gold and silver rose to start the week, but weakened on Friday as the U.S. GDP number came in around the consensus of 2.4%. Platinum had a stellar week, outperforming the rest of the metals after Impala Platinum stated that strikes were going to continue. It would be better if platinum had a solid week based on a big ...
The precious metals recovered on Thursday and Friday from three initial weak days to close in positive territory for the week; silver led the charge finishing up over 1%. The 200-day moving average has worked well as a “catch play” near the $1,305-$1,310 level, while silver has spent several days consolidating in an upper flag patter near $22. Next week, $1,310/$1,290 and $20.50/$21.25 are support points for gold and silver, respectively. Gold ...
All precious metals were in the green this week and moved significantly higher. Gold ended the week at $1,318.60, up 4.4%. Friday was the highest close for gold since October 31, 2013. As we noted last week, a move above $1,280 would be the key to seeing gold move to the next level. The first catalyst for the gold price this week was when the China Gold Association released estimates for China’s ...
Gold and silver finished up 2% and 4.5% respectively this week, while platinum and palladium finished slightly higher. The U.S. dollar was very soft against other currencies all week, which added assistance to moving the precious metals higher. Gold has put in four short-term tops around $1262-$1265 on an hourly chart. This has created a small ascending triangle pattern and a follow through of this pattern leads to a measured move up ...
February 6: European Central Bank (ECB) Interest Rate and policy statement
February 7: US employment data: nonfarm payrolls, unemployment rate, US debt ceiling deadline
February 13: European Central Bank Monthly Report, US retail sales
February 14: Chinese CPI, European Q4 GDP
February 18: Bank of Japan Interest Rate and policy statement
February 20: US CPI, US FOMC minutes
February 28: ...
Precious metals were hit this week from all sides as U.S. dollar strength combined with another round of tapering to force short-term investors to hit the sell key. After opening the week near the highs, the metals managed a bounce on Wednesday only to be hit hard Thursday. The oversold bounce at $1,240 was also met with forceful selling at $1,250-$1,255.
Gold Chart 2014
