Commentary for Wednesday, March 19, 2014 (www.golddealer.com) – Gold closed down $17.60 at $1341.40 reacting to the Federal Reserve’s plan to reduce its bond purchases. The plan (sometimes called tapering) is designed to reduce the amount of liquidity created by the government to improve business and employment during the recession.…
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Commentary for Tuesday, March 18, 2014 – Gold moved down $13.50 to $1359.00 today in continuation selling from the cool-down in the Russian situation yesterday and in fact saw levels as low as $1350.00 before settling somewhat higher. The general trend has been higher in 5 of the last 6 weeks…
Commentary for Monday, March 17, 2014 – Gold closed down $6.10 at $1372.90 in the domestic market after trading as high as $1392.00 in overnight trading as anticipation of Russian intervention mounted. In a classic “buy the rumor – sell the fact” the gold bulls first lost momentum and then…
Commentary for Friday, March 14, 2014 (www.golddealer.com) – Gold finally closed up $6.80 at $1379.00 after being up as much as $20.00 in early trading. The close remains strong however even after settling lower and sets a 6 month high as traders ponder anything approaching the August 2013 high of…
Commentary for Thursday, March 13, 2014 (www.golddealer.com) – Gold closed up a sleepy $1.90 today at $1372.20 as the market pauses still wondering about what will happen with the Russians and the people in the Crimea. The US has sent additional fighters to Poland but this is purely political and…
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Commentary for Wednesday, March 12, 2014 – Gold closed up $23.80 at $1370.30 and the highest price level seen in 6 months. Reasons for this strength include Russian troops in Crimea, the first Chinese corporate default leading to worries about China’s growth and finally a weaker dollar. Gold has now…
Commentary for Tuesday, March 11, 2014 (www.golddealer.com) – Gold closed up $5.10 at $1346.50 and moved above last week’s high close ($1351.70) in early trading before settling for modest gains on the day. Gold’s most recent strength is the result of safe-haven buying brought about because of the Ukrainian military…
Commentary for Monday, March 10, 2014 (www.golddealer.com) – Gold finally closed up $3.30 today at $1341.40. And this was a push-pull market caused by the Chinese and the Russians. The possible Chinese slowdown (decreasing demand for aluminum and copper) pushed all the Asian paper markets into the red and because…