Archive for 2015

Gold was down $10.40 on the week after experiencing a volatile two days of trading on Thursday and Friday. After plunging $30 on Thursday, the metal found support at the 200 day MA which was also a support level of a retracement mark of the strong move up in January. We are currently in a cluster of trend lines and retracement marks that gold will need to break out from. A strong break ...

Gold had another strong week while breaching the $1300 mark for the first time since mid-August. However, the metal met stiff resistance around $1307 and could not sustain the upward momentum and eventually fell back below $1300 on Friday. Gold ended the week up $39 to $1294.10, or 3.1%.

The announcement of a €1.1 trillion QE program by the ECB on Thursday helped the metal reach a 5-month high. Gold also breached a ...

Gold had a breakout week following the surprise announcement by the Swiss National Bank (SNB), which shocked financial markets and had traders turning to gold. The SNB announced that they will no longer be pegging the Swiss franc to the euro, a 3-year relationship that most currency traders assumed was a sure thing. However, the SNB decision proved otherwise, and in the process sent the financial world into turmoil.

The financial fallout from ...

Gold started the week by breaking through the short-term downtrend in place since early December, but failed to reach those same December highs. Gold continued to rally to a high of $1223.30 on Tuesday, which represented a $55 recovery off of the one-month low put in the Friday morning prior. After positive ADP numbers out of the U.S., and a change in market sentiment on Wednesday, gold’s rally broke down. However, following ...

Gold ended the year at $1183.20, down 1.8% in 2014, and down for the second year in a row. However, as the chart showed in last weeks “Weekly Trends”, gold has been the second best performing currency in 2014 next to the U.S. dollar. 2014 also saw gold put in a new four-year low of $1130.40 on November 7, which marked a 40% decline since the highs reached in 2011. With a ...