Commentary for Monday, Dec 16, 2013 – Gold closed up $9.30 today at $1245.50 in what appears to be a little nervous jump in prices. This is not necessarily bullish but just another insurance bet as doubt enters the picture as to what Uncle Sam is going to do with his…
Although most miners searching for gold these days are well aware of the existence of pyrite, many a miner in the past has been fooled into believing that he struck gold when, in fact, it was “Fool’s Gold” that he struck. While this mistake is less likely than ever before…
Commentary for Friday, Dec 13, 2013 GoldDealer – Gold closed up $9.70 at $1235.70 so we did not get the follow through selling I talked about Thursday. Interesting, as it seems traders want to walk right up to that $1200.00 line in the sand and then…no conviction because the jury…
Commentary for Thursday, Dec 12, 2013 GoldDealer – Gold closed down $32.50 at $1226.00 and began to meltdown in overnight Hong Kong/London trading which continued weaker into the domestic market. There are a number of reasons: (1) economic numbers coming out of Europe are a disaster which moved the dollar higher.…
Commentary for Wednesday, Dec 11, 2013 – Gold closed down $3.90 in lackluster trading to close at $1258.50 with virtually no reaction to the budget deal which was passed under the radar. As usual both the Republicans and Democrats claimed victory and they might both be right in that we…
When viewed in the context of the last five years, the past several months have been exceptionally promising for financial markets. Unfortunately, however, considerable unease and uncertainty still exists. Many experts are already hypothesizing about what the next big bubble to burst will be. If this sort of uncertainty has…
Commentary for Tuesday, Dec 10, 2013– Gold closed at a three week high today up $27.10 at $1262.40. Now considering gold was looking very closely at $1214.00 last week the floor talk goes something like this: is it possible in this sea of bad gold news that the short players…
Commentary for Monday, Dec 9, 2013 GoldDealer – Gold closed up $5.00 at $1235.00 so it remains firm but still defensive. The reason it closed stronger is in reaction to the better than expected US economic news we heard Friday which should have prompted more Fed easing talk and pressure gold…
Commentary for Friday, Dec 6, 2013 (www.GoldDealer.com) – Gold closed down $2.90 at $1230.30 but the market did weaken earlier ($1210.00) on news of strong employment numbers before reversing itself and moving higher. So we are still stuck with this dichotomy trading system which revolves around the Federal Reserve and…
Commentary for Thursday, Dec 5, 2013 (www.golddealer.com) – Gold closed down $15.00 at $1233.20 so most of yesterday’s gain was lost but the good news is that in the midst of a poor technical picture we are still holding above the important $1200.00 level. The reason for this is because…