Commentary for Tuesday, Oct 28, 2014 – Gold closed up $0.10 at $1229.20 awaiting the results of the in-process meeting of the Deep Thinkers in Washington. The Federal Open Market Committee will release information concerning its quantitative easing program after the stock market closes tomorrow. Quantitative Easing as it stands right…
Commentary for Monday, Oct 27, 2014 (www.golddealer.com) – Gold remains steady off $2.10 at $1229.10. The overnight Hong Kong and London markets lacked any direction and moved within a $3.00 range. The 30 day gold chart however shows gold is having trouble holding on to its $60.00 gain seen since…
Commentary for Friday, Oct 24, 2014 – Gold closed higher up $2.70 at $1231.10. Gold was steady in Hong Kong and London overnight trading but after a failed attempt to move above the $1240.00 range yesterday this market remains defensive and needs more time to redevelop a trend. Still it…
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Commentary for Thursday, Oct 23, 2014 (www.golddealer.com) – Gold closed down $16.30 at $1228.50 taking all the fizz out of recent action around the $1240.00 level. The dollar was strong as the Dollar Index saw a trading range of 85.66 through 85.88. I think today’s loss also represents further profit…
Commentary for Wednesday, Oct 22, 2014 – Gold closed down $6.20 at $1244.80 reacting to a stronger dollar and profit taking. Gold was steady in the overnight Hong Kong and London markets but dipped in domestic trading as a strong dollar – moving as high as 85.67 on Dollar Index…
Commentary for Tuesday, Oct 21, 2014 – Gold closed up a respectable $7.00 at $1251.00 as traders began to speculate that the Federal Reserve would push back interest rate hikes in an effort to further encourage a rather choppy economic recovery in the US. And at the same time the…
Commentary for Monday, Oct 20, 2014 – Gold closed up $5.70 today at $1244.00 so we made up for Friday’s small loss and added a few bucks on top. But my comments on Friday stand in that the market while short term technically stronger from its most recent low still…
Commentary for Monday, Oct 20, 2014– Gold closed up $5.70 today at $1244.00 so we made up for Friday’s small loss and added a few bucks on top. But my comments on Friday stand in that the market while short term technically stronger from its most recent low still looks…
Commentary for Friday, Oct 17, 2014 – Gold closed down $2.30 today at $1238.10 so this makes for the second day of smaller losses in a market which was a combination of fear driven and oversold coming together. And the dollar gained strength today creating some drag on the price…