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Gold Pops as Credit Crunch Looms
The double figure pop up in gold on Tuesday was more to do with weakening of the US dollar, than rampant gold demand itself. The significant drop in the fiat currency was largely thanks to the release of October’s CPI report. Echoing that of the previous month, the report showed weaker growth and lower than […]
Patrick Karim, Charts and Gold’s Next Breakout
I have heard it said that technical analysis is “Astrology for Men”, the inference being that it’s got about as much use as arguing something will happen to the markets because the stars say it will. Keen to dispel this myth, I decided to chat with chart expert Patrick Karim so we could explain exactly […]Gold Hits New All Time Highs
The big news in gold is two-fold right now; gold hit new all-time highs in several currencies and central bank demand for physical gold remains strong hitting a year-to date record in Q3 this year. Gold at $2,000? So whilst the headlines were all about dollar-denominated gold showing us that it’s still destined for levels […]
Gold’s Not Going Anywhere, No Matter What Happens Next
Last night, gold futures came within touching distance of $2,000, touching $1,998.60 and closed at $1,994.40. This move towards the key psychological level was especially impressive given US dollar strength during the day. Short-term strength of both assets is likely to be on the back of safe haven demand in the Middle East. Gold’s tear […]
Gold Hits Two Week High As Uncertainty Grows
Overnight the gold price hit a two-week high. One of the ‘supports’ for the gold price was the release of FOMC minutes yesterday, something that once upon a time would have done a bit of a number on the price of gold. Instead, it barely blinked. The metal also finds itself well supported on account […]
Gold Down But Not Out
Gold and silver continue on their downward trajectory this week. The US Government Shutdown Deal and comments from FOMC members appear to have boosted bets that the Fed will make space for one more hike in 2023. Prior to the last-minute debt-ceiling deal (yawn) being struck at the weekend, markets had favoured a December hike, […]
Gold Down $100? This Really Shouldn’t Be A Surprise
It’s been a tough couple of weeks. Everything’s down. Stocks are down, bonds are down, heck, even gold is down over $100. What’s going on? We turned to one of our favourite guests, Technical Traders’ Chris Vermeulen and asked for his take on market activity. What are his thoughts? None of this is a surprise […]
Gold: It’s Who’s Buying It That Counts
Gold has been on a bit of a losing streak this week, hitting a six-and-a-half month low. This morning the yellow metal found some (very) modest support in the face of slightly lower Treasury yields, another US government shutdown looming and concerns regarding the Chinese economy. However, it’s likely that it will fall further given […]
When The Weight of Inflation Becomes Too Much
In a comment to MarketWatch last week we said that traders this week would be most focused on the CPI report that came out yesterday. In that very report, Inflation came in hot, above expectations, and posted its biggest monthly increase in August this year. It’s up 3.7% from a year ago. However, markets didn’t […]
