***Please note that this chart is of the Silver/Gold ratio, not the Gold/Silver ratio as is indicated on the chart. Apologies for any confusion. The Silver/Gold ratio hit a very familiar zone that is worth taking a note of before the start of 2015. While gold is still above this year's opening price (it did briefly fall below in November), silver has gotten...
The SPX/Gold ratio is currently holding below the 23.6% Fibonacci level of the period during which gold outperformed US stock markets (July 1999-September 2011). While this ratio won't tell us the direction of one market by itself, it can help identify potential inflection points. One only has to look at what markets did in January 2014 to see the arbitrage...
Wowzers...what a reversal candle. After starting another leg down the Swiss decided to pass a referendum that helped push Gold further down...but that was short lived. Someone saw the opportunity to buy and pulled a big trigger. This move stopped a bunch of people...including us. We had some off the table but were dinged for a couple of nickels. We still...
The purpose of this chart is to amuse you :-) Who can see that far into the future anyway. Past instances show that dollar breakout can last 4 to 5 years, bullish for stock, bearish for gold and interest rate, neutral for oil.
Gold is probably the most hated financial instrument among the Wall Street elite. Higher gold prices would assume that this so-called economic recovery was not as real as they thought. Given the bearish all-out attack on gold and the well-sought after $1,000 mark, gold has be resilient and rallied quite nicely. There are a few factors for gold's rally....
After a few days of back and fill trading GC broke to the upside and squeezed the weak shorts. The pop was with good volume. We are still watching for more opportunity to the downside but we could chop around for a few weeks before seeing another leg down. Remember...the Dollar has broken out of a multi year consolidation and is expected to move...
Hi Traders, GOLD (now at $1155) is performing the last rally to 1220 before resuming the very last ditch to the area around 1089. The present level of 1155 seems to be a good entry point for a short rally to 1200-1220. BTW, once the downtrend resumes, it should stop around level 1089 or end a bit lower around the area at $1043-32 that seems to be the absolute...
GC is having a nice bounce. This was needed after a large move from the last push down. We are expecting GC to rally a little further and chop until after the first of the year. Make no mistake Gold is still in sell mode with targets at 1100 and lower. Expect a good fight form the bulls on the bounce. Stay tuned.
Lets face it the manipulated paper market is causing physical gold and silver to tank. Yet there are shortages of silver and gold and all the while China, Russia and smart people are buying physical. Why the US is BK and at some point this will fly, but the wealthy know that if they force price down they get the uneducated to sell into it and they acquire on the cheap...
Hi Traders, GOLD (now at $1134) is fast approaching the predicted target around 1089. Even in the event of a breakout below this level, the yellow metal should end the downtrend above the area at $1043-32 that seems to be the absolute minimum and it's considered an unbreakable support. If it's true, this would mark the end of the line for the 38 months...
Silver has some extreme bearishness built up behind it. I am bullish long-term, but we are very likely to see a $14-hand on the metal. The nearest support is found at $14.62, while resistance can be seen at $15.60 (broken support). There are some growth worries out of China, which could give short-term support. However, there is endless central bank intervention...
These past 4 days gold has been moving back up quite aggressively... This is typical behavior after a double or in this case a triple bottom... We expect price to keep retracing until the resistance zones marked... Watch for price action reversal candles along those levels. They should give a good short entry which could in turn make the price go a lot lower...
Gold, like silver, is forming a significant bottom as its weekly and daily RSI, Stochastics and MACD have all either turned higher or are completing their bottoming stage. Significantly, gold appears to have bounced off a major support that held May and July 2010, and June and December 2013. A respectable key upside target in the 1340 range can be expected based...
Gold did as we expected (See prior post). We are now at a critical point. Gold has triple bottomed. We have been trading for 15 years and we can count on one hand the times a triple bottom held. However , they may try to squeeze the weak shorts before rolling her over. IF you are long...USE tight stops and recognize that if this breaks the triple bottom it...
Gold seen support, forming a triple bottom near 2013's low, which still remains solid support. $1,239 still remains an intermediate target before higher longer-term resistance levels are reached. In my opinion, given the overall bearishness, if the economy and such was so remarkable, gold would have sank by now. Even four-year highs on the DX couldn't send it...
A look at the inverse relationship between gold and the us dollar index Is it time for a short to medium term bottom in gold...? Could the same be said for the dollar? The stars seem to be indicating that... Silver has also posted a rejection pinbar on the daily.
Whippy stuff. We got short (from a smaller time frame) in the consolidation with a tight stop. As we broke out we were able to take some off the table...but the buyers stepped in and ran it back into the consolidation and took us out of the trade. Not a a great trade considering it is still falling. But no damage was done. LESSON: Know you trade!! We like...
Gold seems to have bounced off its resistance area and appears weak around the resistance at 1242.8. It is worth going short at these levels with stop loss above 1243-46 and aim for 1180 - 1215. However one should be careful by not risking to much as the USD index has appeared weak the last couple of days and could thus reverse/retrace for a little while which...