Prepared by Jamie Saettele, CMT
“Gold’s break higher shifts focus to the November high at 1813.30, the 61.8% extension of the 1527.30-1764 rally at 1853.85 and ultimately the September and all time high at 1932.60.” Near term structure remains bullish with the recent pullback probably composing a small 4th wave. 1773 is support.
Bottom Line – Higher
Barry Stuppler
Four key elements suggest that gold is due for a break-out from its current trading range and point to such a move happening very soon with new highs by the summer.
I believe that all the elements are now in place for a Gold break-out move from the current $1700/$1760 trading range. This move will happen very soon. There will be a short pause when it breaks into the $1,800 level, and then we are heading for new highs before the summer.
WHAT ARE THE KEY ELEMENTS TO THE COMING GOLD MOVE?
1) More Global Quantitative Easing (monetary stimulus) is on the way
Both Great Britain and Japan have recently announced massive increases in monetary stimulus programs. The Eurozone countries have …
Joseph Sobran
Once upon a time, my father bought Time magazine every week, as I do now. He paid 20 cents per issue; I’m paying $3.95. In my teens I bought paperback editions of Shakespeare’s plays for 35 cents each; now they cost about five bucks.
I’m no economist; these are just some of my rough indices of how prices have risen in my memory. Things in general now cost ten to twenty times as much as they used to. Don’t even ask about groceries or cars. If prices increased 1000 per cent overnight, we’d notice. Spread over decades, it seems natural. We hardly notice, let alone suspect mischief.
What’s going on? Is America under the sway of an enormous counterfeiting ring? That’s …
By Adam Shell, USA TODAY
NEW YORK – Behind the mainstream Wall Street happy talk about more stable financial markets and an improving economy are grim warnings of tough times ahead from a small cadre of doomsayers who warn that the worst of the financial crisis is still to come.
Harry Dent, author of the new book The Great Crash Ahead, says another stock market crash is coming due to a bad ending to the global debt bubble. He has pulled back on his earlier prediction of a crash in 2012, as central banks around the world have been flooding markets with money, giving stocks an artificial short-term boost. But a crash is coming in 2013 …
Gold Finger – A New Take On Operation Grand Slam With A Tungsten Twist”
Rob Kirby
I’ve already reported on irregular physical gold settlements which occurred in London, England back in the first week of October, 2009. Specifically, these settlements involved the intermediation of at least one Central Bank [The Bank of England] to resolve allocated settlements on behalf of J.P. Morgan and Deutsche Bank – who DID NOT have the gold bullion that they had sold short and were contracted to deliver. At the same time I reported on two other unusual occurrences:
1] – irregularities in the publication of the gold ETF – GLD’s bar list from Sept. 25 – Oct.14 where the length of the bar list went from 1,381 …
Johnny Mellgren
Dear RealMoneyTracker.com friends and followers of the white and yellow metals, first, let us wish you a happy and prosperous year of the Dragon. In the Chinese zodiac, the Dragon is considered the luckiest of all animals, and looking at the charts for both metals in january 2012, we’re off to a good start.
As you all know 2011 was a very volatile year. Silver headed off and rushed to approximately 48 USD/ozbefore it fell off the cliff back in early May. Gold broke seasonal trends and had its greatest move during the summer and surpassed the 1900 USD/oz mark before it too fell off in September. Silver continued to fall during the last quarter and fell as low as almost 26 USD/oz, a …
By Claudia Assis | MarketWatch
SAN FRANCISCO (MarketWatch) — Gold futures gained Tuesday, benefitting from positive market sentiment following the approval of a second bailout for Greece.
Gold for April delivery (XCEC:GCJ2) advanced $26, or 1.5%, to $1,751.90 an ounce on the Comex division of the New York Mercantile Exchange. It had earlier traded as high as $1,752.50 an ounce.
A close around these levels would be gold’s highest since early December.
U.S. markets were closed Monday for the Presidents Day holiday, and Tuesday was the first floor trading day to react to the Greek news.
After a marathon meeting into the wee hours of Tuesday, European finance ministers sealed a deal to give Greece up to 130 billion euros ($171.9 billion) of financial aid. Read more about the Greek bailout package.
Other metals …
By Mac Slavo
Looking at the numbers behind our federal budgets reveals that the majority of our government’s spending goes not to running the day to day operations of government, but rather, to social safety net programs like Medicaid, Medicare, Social Security, welfare, food assistance, rental stipends and a host of other entitlement programs. In many cases, the programs themselves are used as a marketing tool during election campaigns, with the winner of an election often being the candidate who promises the most benefits to their constituents.
While this strategy of indirect vote buying has worked well for politicians on both sides of the aisle for many decades, and has been instrumental in ushering in an era of centrally planned economies and …