Commentary for Thursday Oct 24, 2013 (www.golddealer.com) – Gold closed up $16.30 to $1350.20 on more delayed taper talk. It also moved above its 50 day moving average ($1343.00) and 100 day moving average ($1326.00) which calls more attention to recent strength. We are now in a prime testing area…
Commentary for Wednesday Oct 23, 2013 (www.golddealer.com) – Gold closed off $8.60 today at $1333.90 on mild profit taking and mixed signals between the dollar and oil. The dollar continues weak but oil surplus places pressure on gold. Mario Draghi President of the European Central Bank explains on CNBC this…
Commentary for Tuesday Oct 22, 2013 (www.golddealer.com) – Gold closed up $26.80 today at $1342.50 as the dollar moved below 80 on the Dollar Index. Actually the 3-month Dollar Index is a disaster but crude oil is now below $100.00/barrel. So there is a push-pull going on here but a…
More and more people are turning away from stocks and bonds and beginning to invest in solid, tangible commodities. If you are considering investing in gold or another precious metal for the first time, there are few things of which you should be aware before you buy bullion. As with…
Commentary for Monday Oct 21, 2013 (www.golddealer.com) – Gold closed up a sleepy $1.30 today after last Thursday’s big $46.00 move to the upside after a deal was reached by Congress on the debt problem. By now it’s common knowledge that this deal must soon be renegotiated and that outcome…
Commentary for Friday Oct 18, 2013 – Gold closed down $8.40 today at $1314.40 so paper traders took a bit off the table going into the weekend but gold did have a good week being up $46.00. Third quarter Chinese Gross Domestic Product (GDP) came in at 7.8% so larger than…
Commentary for Wed Oct 16, 2013 – Gold closed up $9.00 at $1282.00 in reaction to the Congressional deal on spending. Gold actually traded higher in the day reaching $1289.00 during the seemingly tense talks but sold off on the handshake. Premiums for physical gold in both China and India…
Commentary for Tuesday Oct 15, 2013 – Gold finally closed down $3.40 at $1273.00 after watching the Congressional debt talks. Prospects for a government settlement helped the dollar and pushed gold as low as $1250.00 and then after the domestic market close a stall in Senate talks pushed the aftermarket…
Investing in gold is a smart way to diversify your portfolio. Since there is more than one way to invest in physical gold, it is helpful to do a bit of research before meeting with a gold bullion and precious metals dealer. For a general overview of the three ways…
Commentary for Friday Oct 11, 2013 – Gold closed down $28.60 at $1268.00 as large sell orders came in on the New York opening (2 million ounces sold in about 15 minutes) which triggered sell stops pushing gold as low as $1260.00. I think you have to now consider another…