Commentary for Monday, Dec 15, 2014 (www.golddealer.com) – Gold closed down $14.80 at $1207.20 and then traded lower in the aftermarket by $10.00. This places gold below the important $1200.00 level – so last week’s suggestion that profit taking was in the cards seems to be playing out going into…
Commentary for Friday, Dec 12, 2014 (www.golddealer.com) – Gold closed down $3.10 at $1222.00 in a light round of profit taking into the weekend. So this market is beginning to look pretty flat although gold was up $36.00 on the week. To shake off the recent doldrums gold must move…
Commentary for Thursday, Dec 11, 2014 (www.golddealer.com) – Gold closed down $3.80 at $1225.10 in continued chart consolidation but it is clear the fizz has moved on – short covering evaporated – bargain hunting got lost and safe-haven buying is on hold. It’s amazing what a few quiet days of…
Commentary for Wednesday, Dec 10, 2014 (www.golddealer.com) – Gold closed down $2.60 at $1228.90 in a mild round of profit taking after yesterday’s big $36.80 move to the upside. Considering recent higher prices pushed by short-covering and some safe haven buying the bulls while still defensive are at least breathing…
Commentary for Tuesday, Dec 9, 2014 (www.golddealer.com) – Gold closed up $36.80 at $1231.50 in what looks like follow through momentum from Monday and safe-haven buying. This is the highest gold close in 6 weeks and further supports recent talk that a short-term bottom might be in place. Perhaps world…
Commentary for Monday, Dec 8, 2014 (www.golddealer.com) – Gold closed up $4.60 at $1194.70 in the domestic market – in fact it was traded tightly in overnight trading both in Hong Kong and London – the high to low range was a few bucks at best. Then a short-covering rally…
Commentary for Friday, Dec 5, 2014 (www.golddealer.com) – Gold closed down $17.40 today at $1190.10 reacting to the latest good news from Uncle Sam. This from Jim Wyckoff (Kitco) – “U.S. non-farm payroll employment rose by a much-higher-than-expected 321,000 jobs in November. The market place had expected a rise of…
Commentary for Thursday, Dec 4, 2014 (www.golddealer.com) – Gold closed down $1.00 at $1207.50 after some theater from Mario Draghi. Traders were listening carefully to what ECB President Mario Draghi had to say about Europe – the European Union – the euro and finally their collective plans to make sure…
Commentary for Wednesday, Dec 3, 2014 (www.golddealer.com) – Gold closed up $9.50 at $1208.50 even though the Dollar Index surged higher which means we might be seeing some bargain hunting above $1200.00 as hard as that might be to believe. Again watching the Dollar Index we began the trading day…
Commentary for Tuesday, Dec 2, 2014 – Gold closed down $18.80 today at $1199.30 throwing a bit of cold water on yesterday’s rally. This market is the perfect storm for rattling everyone’s nerves because there are a number of longer term trends being looked at carefully. The physical market seems solid…