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bsiong
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29-Nov-2012 02:21
Yells: "The Greatest Wealth is Health" |
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Mid-Day Gold & Silver Market Report – 11/28/2012November 28, 2012GOLD HITS A TWO-WEEK LOW, U.S. FEDERAL RESERVE PROCEDURE REVIEW   Gold and other precious metals prices are seeing a significant dip in price today. The price of gold has fallen two percent today, which is the largest drop in three weeks. The gold price dropped twenty dollars in a five minute span this morning due to a large sell-off of the precious metal.  Over two million ounces of gold futures were traded in that short time frame.  " Clearly if a trader was looking to take profit on his positions then one would finesse metal into the market slowly - so not profit-taking going on here. More likely this could be a short play, with the seller looking to trigger stops below the market and thus extend the move lower significantly. If so, he certainly caught the market on the hop as the move is counter-intuitive with everything else that is going on in the economy." Sharps Pixley chief executive Ross Norman said. Earlier in the week the European finance ministers agreed on a plan to help debt ridden Greece work towards financial stability. While the main point of the plan was to push back the deadline of reaching the country’s financial goals.  Another point that has not gotten as much press is the talk of simply forgiving some of Greece’s debt completely.  German Finance Minister Wolfgang Schaeuble hinted at the idea in a news conference yesterday. When Greece has achieved, or is set to achieve, a primary surplus and fulfilled all of its conditions, we will, if need be, consider further measures for the reduction of the total debt," he said. In the United States the Federal Reserve has continued to keep their financial easing program in place indefinitely. The main key to the easing program is the level of interest being charged on loans. It has been kept around zero percent and there has been no indication of when that will change. Charles Evans, president of the Chicago Fed gave his opinion this week. He believes the interest rate should remain low until the U.S. unemployment rate improves.  It is unusual for any member of the Fed to give specifics on guidelines for policy changes.  However, the idea of doing so is gaining support. Janet Yellen, second in command to Chairman Ben Bernanke on the Federal Reserve Board recently said, " I support this approach because it would enable the public to immediately adjust its expectations concerning the timing of liftoff in response to new information affecting the economic outlook." While now this is just opinion, time will tell if this could lead to new procedures at the Fed. At 1:00 pm (EDT), the APMEX precious metals spot prices were:
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bsiong
Supreme |
28-Nov-2012 22:58
Yells: "The Greatest Wealth is Health" |
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bsiong
Supreme |
28-Nov-2012 22:56
Yells: "The Greatest Wealth is Health" |
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Morning Gold & Silver Market Report – 11/28/2012November 28, 2012CONGRESS NOT CLOSE TO AVOIDING FISCAL CLIFF Precious Metals prices and stock futures are lower this morning after  statements made yesterday by Senate Majority Leader Harry Reid. Reid said that Republicans and Democrats of Congress are still far apart in agreeing on proper way to avoid the fiscal cliff. Stephen Pope of Spotlight Ideas said, “I can’t believe anyone really believes that in the first serious get-together post-election, anyone will walk out and say, ‘You know what guys, we agree on everything.’ I think … you’re going to see, going forward from here, a repetition of yesterday, with people making grandstanding statements – a bit like how it’s gone in Europe – and trying to flex their muscles.” With the end of the year just around the corner, many eyes are on Italy as the  next country in the eurozone that will need a bailout. Italy is the eurozone’s fourth-largest economy, and with Spain also in a constant state of will-they-or-won’t-they in regards to requesting a bailout, the problems only continue in the region. Citi Analyst Giada Giani said, “Italian economic fundamentals have not really improved, despite some improvement in market conditions. The negative feedbacks from fiscal austerity on growth have been severe.” At 9 a.m. (EST), the APMEX Precious Metals spot prices were:
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bsiong
Supreme |
28-Nov-2012 09:06
Yells: "The Greatest Wealth is Health" |
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November 27, 2012 • 12:31:40 PST
Jim Willie CB - Immutable Gold LawsThe central banks from Europe, the US, the UK, and Japan are coordinated and aligned. They are all putting into practice... Read More |
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bsiong
Supreme |
28-Nov-2012 08:59
Yells: "The Greatest Wealth is Health" |
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Closing Gold & Silver Market Report – 11/27/2012November 27, 2012GOLD ENDS THE DAY LOWER ENGLAND LOOSING CREDIT The Gold market has stayed mostly level for the day, ending a bit lower than Monday’s close. One of the main reasons for the decrease has been a rebound in the value of the United States dollar. October’s demand for products such as machinery and electronics went up the most in five months.Another reason is a lower than expected demand from India. India has been the leading in Gold buying, and when their demand goes down, the market feels the affects. In the United Kingdom, the economy has experienced the same issues that plague the rest of the global economies. The U.K. has a growing budget deficit and slower than anticipated growth. Next week the countries finance minister will give his annual Autumn Statement to show the path which they will follow to progress through the economic turmoil.  If a solid plan is not given, there is a strong possibility that England could lose their triple-A credit rating. “The U.K. can only be given the benefit of the doubt for so long. The ratings agencies want to see debt metrics stabilize in the medium term. If fiscal pain is kicked too far  In the United States, all eyes are fixed on the capitol and the outlook of avoiding the fiscal cliff. News of both sides softening their stance on certain issues has brought hope to the crisis, however, both sides are reportedly far away from a deal.  The largest issue seems to be taxes, or lack thereof. “There remains no clarity on the ultimate status on the Bush tax cuts, which have to be resolved before you can move forward with the remainder of the fiscal cliff,” Chris Krueger, an analyst at Guggenheim Securities’ Washington Research Group, said. At 5 p.m. (EST), the APMEX Precious Metals spot prices were:
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bsiong
Supreme |
28-Nov-2012 00:03
Yells: "The Greatest Wealth is Health" |
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Morning Gold & Silver Market Report – 11/27/2012November 27, 2012DEBT DEAL REACHED FOR GREECE Gold and Silver prices are basically flat this morning amid news that the eurozone and the International Monetary Fund have  reached a debt deal for Greece. The country’s debt level will be lowered to a more sustainable level, and ultimately, this deal will lead to the next $44 billion tranche of aid being released to the country. German Chancellor Angela Merkel, who many consider the political figurehead of the eurozone as Germany boasts the largest economy in the region, is coming under fire for doing the “bare minimum” to keep Greece solvent. Gold prices gave up gains that were originally attributed to the debt deal in Greece when Federal Reserve Bank of Dallas President Richard Fisher stated concerns with regards to the latest round of quantitative easing in the U.S.  Fisher’s comments boosted the dollar, and the Gold price reacted negatively. Saxo Bank analyst Ole Hansen said, “Gold is trying to consolidate now after making the push higher on Friday. … We are creating the foundation for a push higher to levels seen earlier this year.” At 9 a.m. (EST), the APMEX Precious Metals spot prices were:
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bsiong
Supreme |
27-Nov-2012 20:52
Yells: "The Greatest Wealth is Health" |
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Last Updated : 27 November 2012 at 12:15 IST Gold: Two unfolding events may lead to safe haven buying Source :Commodity Online NEW YORK (Commodity Online):  A New York based financial-services firm INTL FCStone Inc cites two unfolding events that could lead to safe-haven buying of gold.  " The Egyptian situation should be largely supportive for gold, as it could fuel further 'safe refuge' buying by Mideast origins," said Edward Meir, commodities consultant with INTL FCStone. Meanwhile, US lawmakers and the administration still have not resolved the so-called fiscal cliff issue, and much remains to be done. |
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bsiong
Supreme |
27-Nov-2012 20:51
Yells: "The Greatest Wealth is Health" |
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Last Updated : 27 November 2012 at 11:00 IST Gold may try testing $1800 levels this week: Analyst Source :Bloomberg BEIJING (Commodity Online):  As the Greek debt deal is clinched by the troika of European Central Bank, IMF and Finance Ministers of Europe, Euro strengthened against Dollar which helped gold prices to climb. Meanwhile a Chinese analyst is of the opinion that gold may test $1,800 levels this week. “As investors once again gain confidence in Europe after leaders give Greece another chance, that will help the euro and in turn gold,” said Wang Xiaoxi, an analyst at Beijing Capital Futures Co., a unit of the Chinese capital’s investment arm to Bloomberg. “The market may try for a test of $1,800 this week.” he added. Spot gold prices have climbed to $1,749.94 an ounce at 10.50 am IST even as gold for February delivery on the Comex was seen trading at $1752.55 an ounce, a gain of 0.03%. On India's MCX, gold for December delivery was seen trading at Rs.32425 for 10 grams, a gain of 0.20% as of 10.41 am IST. As per the debt deal, the debt levels of Greece will be brought down to 124% of GDP by 2020. This has cleared way for the tranche of funds to be released in aid of the debt-stricken nation to the tune of 43.7 billion euros. |
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bsiong
Supreme |
27-Nov-2012 09:35
Yells: "The Greatest Wealth is Health" |
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November 26, 2012 • 04:00:37 PST
Gold Market Update - Clive MaundThese developments have grave implications for the dollar, but at the same time are believed to mark the start of major ... Read More |
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bsiong
Supreme |
27-Nov-2012 09:31
Yells: "The Greatest Wealth is Health" |
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November 26, 2012 • 04:05:34 PST
Silver Market Update - Clive MaundSilver is viewed as having broken out last week to start a MAJOR uptrend, and thus it is certainly not too late to go lo... Read More |
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bsiong
Supreme |
27-Nov-2012 09:28
Yells: "The Greatest Wealth is Health" |
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Closing Gold & Silver Market Report – 11/26/2012November 26, 2012LITTLE MOVEMENT FOR GOLD TODAY POSITIVE OUTLOOK FOR EUROZONE CRISIS Gold remains flat for the day, and other equities and commodities are down as investors focus on Europe’s financial crisis and the concern that Greece will need a second bailout. “Most of the activity came from CTAs (Commodity Trading Advisors)  and hedge funds who were either adding to longs or reversing their shorts. It seems that the expectations for the Fed's planned actions are stronger now than they had been before the election,” Carlos Perez-Santalla, a broker at PVM Futures, said. The future potential distress to the U.S. economy is the quickly approaching fiscal cliff and whether or not politicians will come to an agreement that is satisfactory for all. We’ll keep you updated on the latest news. A report commissioned by European think tank The Lisbon Council and Germany-based Berenberg Bank reflects good news for the eurozone debt crisis as they suggest the predicament may be contained in 2013 barring any major policy mistakes. “If the eurozone gets through the current acute crisis and stays on the reform path, it could eventually emerge from the crisis  as the most dynamic of the major Western economies,” Holger Schmieding, chief economist at Berenberg Bank, said on Monday. At 5 p.m. (EST), the APMEX Precious Metals spot prices were:
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bsiong
Supreme |
27-Nov-2012 09:27
Yells: "The Greatest Wealth is Health" |
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Mid-Day Gold & Silver Market Report – 11/26/2012November 26, 2012GOLD REMAINS STEADY AS STOCKS DESCEND Gold continues to hover around $1,750 today  after ending last Friday its highest point since mid-October. Analysts continue to cite European debt struggles and the upcoming fiscal cliff as the main movers of the U.S. dollar and the Gold price. “Gold has now found some very strong buying since the dip below $1,700, and we anticipate the rally to continue as deep bullish fundamentals are still in place — the Europe/Greece uncertainty and the U.S. fiscal cliff uncertainty,” Anthony Lazzara, chief executive officer of Lido Isle Advisors, said. Global and domestic economic concerns continue to convince analysts that there is no reason for Gold to trend any lower heading into 2013. Budget dialogue in Washington and concern regarding aid to Greece  caused U.S. stocks to decline on Monday. Holiday shopping caused large gains in the stock market on Friday, but profit-taking after such a large rally also caused stocks to weaken. As we approach the end of 2012,  fiscal cliff and European debt concerns will remain at atop  financial headlines. Regarding world economic news, Peter Sorrentino of Huntington Asset Advisors in Cincinnati said, “We’ve got a lot of negatives. There’s the backdrop of what’s going on in the European Union with the bailouts and recapitalizing the banks. On top of that, we have issues in the U.S. with regard to our fiscal policy. That’s just enough reason at this point in time to take risk off the table and wait for more insight and clarity.” At 1 p.m. (EST), the APMEX Precious Metals spot prices were:
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bsiong
Supreme |
27-Nov-2012 09:26
Yells: "The Greatest Wealth is Health" |
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Morning Gold & Silver Market Report – 11/26/2012November 26, 2012CYBER MONDAY vs. GREECE AND THE FISCAL CLIFF U.S. stock futures look to start lower today. Negotiations will continue today between the President Obama and top congressional leaders as they try to come to terms on upcoming tax increases and spending cuts, otherwise know as the Fiscal Cliff. Greece is still in the news as the euro-area finance ministers are in discussion over the next round of aid for the country’s distressed economy.Henrik Drusebjerg, senior strategist at Nordea Bank said, “We could see U.S. markets start positively, but they’re a bit nervous about Greece.” Today, if you weren’t already aware, is Cyber Monday,  a term that was coined back in 2005. Economically, it is a boost to the retail sector as was Black Friday and Small Business Saturday. It’s estimated that today’s Cyber Monday will be the biggest online shopping day of the year for the third year in a row, up 20 percent from last year. The Gold price stayed near its five week high in overnight trading even after the dollar strengthened.  Edel Tully, an analyst at UBS AG in London said,  “The uncertainties surrounding the euro group meeting on Greece have impacted the euro-dollar and in turn Gold.” At 9 a.m. (EST), the APMEX Precious Metals spot prices were:
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bsiong
Supreme |
26-Nov-2012 17:36
Yells: "The Greatest Wealth is Health" |
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November 25, 2012 • 12:19:25 PST
Rosen - This Move In Gold & Silver Is Going To Shock Peoplewe should approximate $4,500 sometime in early 2014 (see chart enclosed which shows secondary targets between $3,700 and... Read More |
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bsiong
Supreme |
26-Nov-2012 17:33
Yells: "The Greatest Wealth is Health" |
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NEW YORK (Commodity Online):  Gold may be buoyed by expectations of further monetary-policy easing at the December 11-12 meeting of the Federal Open Market Committee, said HSBC Holdings plc (HSBC). The Fed currently is conducting two programs. One is known as “Operation Twist,” which involves the extension of the average maturity of the Fed’s securities portfolio through the simultaneous sale of short-term Treasuries and the purchase of longer-term ones. The second program, commonly referred to as Quantitative Easing 3, is the outright monthly purchase of $40 billion a month in agency mortgage-backed securities. “The Fed cannot continue with “Operation Twist” since holdings of short-term Treasuries will have been exhausted. This means the FOMC could shift directly into another large-scale asset purchase program,” said Kevin Logan, HSBC’s chief U.S. Economist. “Bullion is historically sensitive to monetary easing expectations. We have noted…that gold tends to react more favorably to Fed announcements of outright asset purchases when compared to maturity extension programs such as ‘Operation Twist.’ As such, an announcement by the Fed of another round of quantitative easing would be a bullish case for gold, we believe,” said Jim Steel, HSBC precious metals analyst. |
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bsiong
Supreme |
26-Nov-2012 17:28
Yells: "The Greatest Wealth is Health" |
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Last Updated : 26 November 2012 at 14:20 IST     LONDON (Commodity Online):  Gold has shown volatility in recent times due to geopolitical tensions, dollar swings, recovering equity markets and has traded up on favourable macro-economic environment. But Barclays Research is cautioiusly bullish on gold as physical demand in Asia continues to be fragile. “Prices are likely to continue to search for triggers from the macro and geopolitical environment, but the downside rests with the physical market and central bank buying, with the latter looking more supportive,” Barclays said in a note. Price forecast: Q4 12: $1810/oz, 2012 annual average: $1691/oz “ Although the price of gold has been stabilising under nearby resistance in the 1740 area, the overall bias remains bullish. Indeed we view the pause as a healthy development within context of the move higher off the November lows near 1670. We look for a break above 1740 to confirm further upside for gold, with near-term targets in the 1775 area. Ultimately we are looking for a test and break above the range highs near 1800 to confirm our broader bullish view for a move to the record highs near 1921,” Barclays said. |
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bsiong
Supreme |
26-Nov-2012 17:25
Yells: "The Greatest Wealth is Health" |
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Last Updated : 26 November 2012 at 11:45 IST Silver to average $35/Oz in Q1 2013 Gold $1850/Oz Source :Commodity Online/Barclays Capital LONDON (Commodity Online):  Silver prices are expected to average $35 an ounce in the first quarter of the next year while gold prices could be at $1850 per troy ounce, said Barclays Capital in a research note. According to the British bank,  silver is the strongest-performing precious metal so far this year but true to form has traded the widest range across the four precious metals.  This volatility continues to reflect the lack of support provided by the metal’s fundamentals while sizeable growth in investment demand maintains the necessary scope to plug the gap and drive prices higher. According to Thomson Reuters GFMS’ (GFMS) interim silver market review released last week, most of the trends highlighted were in line with  our own expectations but there were two exceptions, scrap supply and industrial demand, which painted a weaker supply and demand picture,  Barclays added. GFMS expect  silver to trade up to the $36/oz before the 2012 year-end (Barclays Q4 12: $31.5/oz) and possibly over $50/oz during 2013 on the back of investor interest (Barclays 2013 annual average forecast: $32.5/oz). " In terms of scrap, GFMS expect 1% y/y growth of just over 100 tonnes to a fresh all-time high on the back of higher recycling in India in jewellery and silverware whereas we have estimated a decline due to the ongoing decrease in photography usage. While we had certainly estimated silver industrial demand to slow this year to growth of less than 1% y/y from the drop last year, GFMS expect the contraction to continue into 2012, falling by 6% y/y on the back of heavy destocking and pressure from thrifting and substitution," they noted. |
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bsiong
Supreme |
24-Nov-2012 10:22
Yells: "The Greatest Wealth is Health" |
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Gold Settles Above $1,750 as Dollar Drop Sparks RallyGold futures settled above $1,750 an ounce for the first time in more than a month on Friday, gaining as dollar weakness and options-related buying triggered a technical breakout.
Analysts said Friday's gains could set up for a rally above the more formidable $1,800 level, which bullion has not seen since its rise to a record $1,920.30 in September 2011. " It's definitely a technical breakout above the 50-day moving average for the short term. If we break above $1,800, the next real significant resistance will be the prior all-time high near $1,900,'' said Adam Sarhan, CEO of Sarhan Capital. Markets could be choppier than usual in thin trading on Friday, with the CME metal markets closing early and the U.S. stock market open for only a half day of business due to the U.S. Thanksgiving holiday on Thursday. Bullion also benefited from the dollar falling 1 percent due to the euro's strength on hopes for a Greek aid package and to a surprise improvement in German business sentiment. Spot  gold  [XAU=    1752.50    ---    UNCH      ]  was up 1.4 percent at $1,752 an ounce. U.S. gold futures  [GCCV1    1751.40        23.20    (+1.34%)    ]  settled up $23.20 an ounce at $1,751.40 in heavy trading. The first-notice day for December is next Friday. Strong buying related to next Tuesday's expiration of the popular December COMEX options also lifted gold. Heavy positioning of the $1,750 and $1,800 strikes in call options could increase volatility and lift prices, traders said. Gold outperformed other commodities, which also benefited from a weaker dollar. The U.S. dollar index is down 1 percent and on track for its first weekly decline in five weeks. " The dollar here is just getting smacked so hard in a really thin market, so it's easy for gold and silver to break out of some key levels without a lot of resistance,'' said Matthew Schilling, commodities broker at futures brokerage RJ O'Brien. " It's a dollar play today,'' he said.
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bsiong
Supreme |
24-Nov-2012 10:11
Yells: "The Greatest Wealth is Health" |
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Gold Futures Top $1,750, Silver Rises as Dollar DeclinesBy  Debarati Roy  -  Nov 24, 2012 2:15 AM GMT+0800 Gold futures topped $1,750 an ounce and silver climbed to a six-week high as the dollar’s drop spurred demand for the metals as alternative investments. “The dollar weakness is supporting gold,”  Michael Smith, the president of T& K Futures & Options in  Port St. Lucie, Florida, said in a telephone interview. Gold futures for December delivery rose 1.3 percent to $1,751.40 at 12:45 p.m. on the Comex in  New York. That’s the biggest gain for a most-active contract since Nov. 6. Earlier, the metal touched $1,755, the highest since Oct. 17. Floor trading was closed yesterday for the U.S. Thanksgiving holiday. Holdings in gold-backed exchange-traded products rose to a record 2,605.3 metric tons on Nov. 21, data compiled by Bloomberg show. The  U.S. Mint  sold 67,000 ounces of American Eagle gold  coins  this month, exceeding the 59,000 ounces for all of October, data on its website showed. Silver futures for March delivery gained 2.3 percent to $34.206 an ounce. Earlier, the price reached $34.25, the highest since Oct. 11. |
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bsiong
Supreme |
24-Nov-2012 02:06
Yells: "The Greatest Wealth is Health" |
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