Commentary for Wed, May 14, 2014 – Gold closed up $11.10 at $1305.70 so we are once again holding onto the reassuring $1300.00 mark but reasons for the push to higher prices are not obvious. Some claim inflation fears in the US but a check on the annual US inflation rate…
Commentary for Tuesday, May 13, 2014 – Gold closed down $1.00 at $1294.60 so not much action today but it still manages to hold the upper end of its current trading range on virtually no new news and no buzz. Even at gold’s low on the day we were off…
Commentary for Monday, May 12, 2014 – Gold closed higher today up $8.30 at $1295.60 and while some writers see this as a symptom of the continued problems in Ukraine I think this market is purely driven by technical trading. Gold began rising in value overnight in the Hong Kong…
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After 9/11, public displays of gold were mostly ceased around the nation. In 2012, the Denver Mint launched the first public display of gold since that date. Watch this video for a peek at the exhibit opening and a look into the storied history of the mint itself. The Denver…
Commentary for Thursday, May 8, 2014 – Gold closed down $1.20 today at $1287.40 which makes for the third day we have seen lower prices but the overall action was subdued and the short players got scared when the dollar reversed direction in late trading. Yellan is still talking with Congress…
Commentary for Wednesday, May 7, 2014 – Gold closed down $19.70 at $1288.60 saying good bye to the reassuring $1300.00 support level. So gold is weaker because the upbeat Yellen comments reinforce the “feel good” economy numbers. And Putin’s assurance that he wants to deescalate the powder keg in Ukraine takes…
Commentary for Monday, May 5, 2014 – Gold closed up $6.40 at $1309.00 after reaching highs on the day of $1315.00 before settling. Trading overnight in Hong Kong and London was flat around the $1309.00 mark and in today’s domestic session we ran into overhead resistance approaching gold’s 50 day…
Commentary for Friday, May 2, 2014 – Gold finally closed up $19.50 at $1302.60 but the road to back above $1300.00 was a bit bumpy. There was a slight dip in the price of gold after the release of the jobs number but the market recovered holding the important $1280.00…
Commentary for Thursday, May 1, 2014 – Gold closed down $12.50 today at $1283.10 in again what looks like a bearish market pushed by technical selling. But the bears do look tired (30 day chart) forming a recent double bottom around $1280.00. Gold did test the $1278.00 level before closing…