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Weekly Trends: February 22, 2014

Commodity Talk

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 ...

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Weekly Trends: February 15, 2014

Commodity Talk

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 ...

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Weekly Trends: February 8, 2014

Commodity Talk

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 ...

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Market Intelligence: February 2014

marketintel_feb_commentary

IMPORTANT DATES:

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: ...

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Weekly Trends: February 1, 2014

Commodity Talk

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

Gold Chart

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Weekly Trends: January 25, 2014

Commodity Talk

Gold futures closed the week near the unchanged level while platinum, palladium and silver finished the week negative. Gold was poised for a small breakout above the $1267 level, but was shot down on Friday after emerging market currencies fell hard causing the U.S. dollar to appreciate and gold to move lower. Additional sell pressure can be attributed to the U.S. Federal Reserve meeting next week where there is a strong potential ...

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Weekly Trends: January 18, 2014

Commodity Talk

Precious metals remained range bound this week with few disturbances from economic headlines. Platinum led the precious metals higher finishing the week up 1.3%; gold was the weakest performer yet finished slightly positive up 0.4%. Year to date performance has been on par with our January Market Intelligence – the combination precious and industrial metals (platinum, palladium, silver), as we like to call them, have been the outperformers and we expect to see ...

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Weekly Trends: January 11, 2014

Commodity Talk

The precious metals markets pushed higher on Friday thanks to lacklustre U.S. non-farm payrolls. Overall, the metals are positive for the year, but remain range bound in the grand scheme of things. A close above $1,250 in gold and $20.50 in silver would break the shorter-term downtrend and could definitely trigger a new wave of short term buying.

Silver Support Points: $19.90, $19.65, $19.40

Silver Resistance Points: $20.40, $20.50, $20.75

Silver Chart

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Market Intelligence: January 2014

VC Market Intelligence is a monthly infographic from Visual Capitalist that summarizes changes in economic indicators, relevant news stories, commodity and financial trends, and provides technical analysis. The goal is to make this information intuitive and visual to the average investor.

Click image below to expand to full size.Market Intelligence

 

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Weekly Trends: January 4, 2014

Commodity Talk

The precious metals began 2014 in the right direction up near highs of the week. Gold suffered its worst year since 1981, but demand for physical gold has noticeably increased recently. Physical gold premiums for immediate delivery in China were $20 an ounce this week while the average in late 2013 was $15 per ounce. Other developing nations such as Turkey had imports increase by as much as 64% in December.

Gold support ...

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