Gold….Where to from here?

If you want to know if an investment is likely to go up or down... or stay the same...take a look at its price chart. Preferably, the daily, weekly and monthly chart so you get an understanding of the short term, medium and long term outlook. We looked at all three of those last week. So let's look at the weekly today:   The first thing you notice when you look at this chart is … [Read more...]

$52k Gold Theft From Safe In Garage

Peter's Commentary Do you keep your valuables in a safe? You might want to reconsider after reading what happened to a songwriter in Hollywood... From NBC Los Angeles, March 17, 2015: Thieves made off with about $52,000 worth of gold and other valuables after breaking into a safe at the Hollywood home of songwriter to the stars Toby Gad. A safe inside the chart-topper's multi-million … [Read more...]

Highway Robbers Grab Gold

Peter's Commentary: I know this story is over a week old. But it's a classic highway robbery. $4 million in gold stolen from a tractor-trailor on the Interstate 95 in Eastern North Carolina. From Reuters, March 2, 2015 Two armed security guards employed by the transport company, TransValue Inc, reported the robbery around 6:45 p.m. on Sunday to Wilson County sheriff's deputies. The … [Read more...]

Gold Demand By China Appears To Be Double Official WGC Figures

Peter's Commentary Koos Jansen has done a lot of research into gold demand by China. He has found that both in 2013 and 2o14, that the amount listed as China's gold demand by the World Gold Council is approximately half the figures reported by China itself. And China is also probably under-reporting both its gold imports and its domestic production. From BullionStar.com, Koos Jansen, March … [Read more...]

Gold – Long, Medium and Short Term Analysis

There is presently no excitement about gold. Gold Monthly Chart Take a look at the monthly chart: First, look at the channel that has been formed over the past 20 months or so. Gold has continued to trend downwards within this channel. The ADX indicator is firmly bearish, with the -DI line above the +DI line. However, the ADX line itself, has been working its way down from a strong … [Read more...]

Silver Down Hard As Grexit Optimism Fades

Peter's Commentary: Silver has fallen hard today. Dropped more than 5%. From ZeroHedge, Tyler Durden, February 17, 2015 It appears the overnight exuberance at the possibility of a Grexit is fading fast... Silver - already weak overnight - was suddenly monkey-hammered lower on massive volume... WTI is down almost $2 from intrday highs, testing towards $51.50 on heavy volume. *SILVER … [Read more...]

Gold…Daily, Weekly and Monthly Analysis

Peter's Commentary: Here's the daily chart of gold: A reverse head and shoulders pattern is currently in play. Gold broke up from the blue neckline early in January, and then late last week came back down to the neckline. This is a classic head and shoulders pattern that is seen at market bottoms. These normally have about a 90% chance of working out. The upside on this pattern is at … [Read more...]

Fearing a Grexit, Greeks Buy Gold

Peter's Commentary: This is why gold has been money for over 5000 years, whatever Bernanke says. When you're worried about your own currency, you buy gold as insurance. Greeks Buy Gold Again From ZeroHedge, Tyler Durden, February 9, 2015 It never fails: Every time redenomination risks and the specter of the (New) Drachma rear its ugly heads, Greeks, like dutiful Austrian economists, … [Read more...]

Silver Chart Analysis

As we've already looked at gold this weekend, let's take a very quick look at silver: Here's the silver daily chart. Silver has been in a downtrend for the last two and half weeks. The MACD indicator is bearish with both lines pointing downwards and the signal line above the MACD line. The ADX indicator is also bearish with the red -DI line above the green +DI line. Silver closed out … [Read more...]

Taking A Look At Gold

Here's the daily chart of gold: Looking at the ADX indicator, you can see that the negative DI line is now firmly above the +ve DI line, clearly showing that bears are in control. The MACD indicator is also negative, having crossed over its signal line just before the end of January. Both lines are pointing downward, a bearish sign. The histogram is also getting larger, showing the … [Read more...]