Commentary for Monday Sept 30, 2013 – Gold closed down $11.90 at $1326.50 and while some of the trade thinks this is related to the government funding problems I think it’s more related to a technical correction. Supposedly this is the first real shutdown in 17 years but this Congressional…
Commentary for Friday Sept 27, 2013 (www.golddealer.com) – Gold closed up $14.80 at a respectable $1338.40 today. It actually traded as high as $1345.00 so right at its 50 and 100 day moving average but the week in general lacked conviction (up $6.00). On a more optimistic note the $1340.00…
Commentary for Thursday Sept 26, 2013 (www.golddealer.com) – Gold closed down $12.30 today at $1323.60 still within its most recent trading range. The dollar was marginally stronger but some dollar traders feel we will soon test recent lows. I don’t know about that but technically short term it looks weaker.…
While stock brokers may tell you that certain companies are poised to do well and offer you the opportunity to double or triple your initial capital, the truth is that the market and the world economy are extremely unpredictable, so there are no guarantees. The price of gold is also…
Commentary for Friday Sept 20, 2013 (www.golddealer.com) Gold gave up $36.90 of yesterday’s big gain ($61.60) to settle at $1332.50 into the weekend. This lack of follow through was probably technical in nature and reinforced when gold moved below its 50 day moving average ($1341.00). On a fundamental note India’s…
Commentary for Thursday Sept 19, 2013 (www.golddealer.com) – Gold closed up a big $61.60 today at $1369.40 confirming yesterday’s higher after market which reacted positively to Bernanke’s no taper call. Of course traders expected some modification in the massive bond buying program and when the Fed Chairman confirmed he was…
Although it is always relatively stable, the price of gold on any given day is determined by a complex interaction of supply and demand factors. If all the gold currently circulating in the world were melted down and pressed into a cube, it would barely measure 60 feet on a…
Commentary for Wednesday Sept 18, 2013 (www.golddealer.com) – Gold closed down $1.70 at $1307.80 before the news release from Federal Reserve Chairman Bernanke (FOMC) regarding the fate of his quantitative easing program ($85 Billion/Month). Gold was defensive in early trading moving as low as $1280.00 in anticipation of a change…
Sep 17, 2013 | Terry Client’s rating: 5 of 5 Dear CNI Management, I wanted to take the time to offer thanks to your organization and the services of Harry Johnson these past 10 years. Both my brother and I have conducted countless transactions – and offered your services…
Gold Closed Lower Waiting for FOMC Direction – Commentary for Tuesday Sept 17, 2013 (www.golddealer.com) – Gold closed down $8.40 at $1309.50 in thin trading waiting for more information coming out of the Federal Open Market Committee meeting Wednesday. A modest taper of the $85 billion per month used to support…