“Buy Gold”, Short The Central Banks

Peter's Commentary Jim Sinclair has been urging his subscribers at jsmineset.com for years to buy gold and thus become their own central bank. Now Marc Faber is essentially saying the same. From GoldCore.com, February 4, 2015 Faber: “Only one way to short central banks and that is to buy gold”. Marc Faber warned at the weekend that 2015 may be the year that investors will lose … [Read more...]

Gold Price Increase In Multiple Currencies

Here's a chart showing the increase in gold prices since the low in November 2014 to January 28, 2015. Note that this was first published January 28. Today, the gold price has fallen from today's high of $1286 to $1252, so the increases are not quite as dramatic as shown above with yesterday's data. … [Read more...]

Gold and Silver Drop Most Since 2013

Volatility increases in currencies, oil, gold and silver. From ZeroHedge, Tyler Durden, January 29, 2015 Because nothing says dump gold and silver like an aggressively escalating currency war... Once again the US-Europe crossover period is the witching hours for Precious Metals... But as soon as Europe closed,. gold and USDJPY decoupled dramatically as the … [Read more...]

Gold – Bull Or Bear?

Let's start with the daily chart from this weekend: Inspecting the daily chart shows the following: 1. Gold has been in a strong uptrend since the beginning of the year. 2. For the ADX indicator, the + DI line is above the - DI line, showing that the bulls are in control. However the + DI line has just turned down slightly and met the black ADX line. This can be taken as a warning to … [Read more...]

Gold Shares – Pointing Up Or Down?

Gold shares lead the way. Right? Then what do you think about GDX and GDXJ both finishing the day with outside reversal day patterns? And GDXJ   Otherwise known as bearish engulfing patterns, these often lead the way down, especially if confirmed by a lower candlestick bar the next day. Only a week ago, we had another set of outside reversal day patterns for both … [Read more...]

More Gold Purchases By Russia

The rumors about Russia selling its gold to help support its currency, the Ruble, were wrong. Instead of selling, they have been buying. From ZeroHedge.com, Tyler Durden, January 18, 2015: Indeed, Russian gold reserves rose by their largest amount in six months in December to just over $46 billion (near the highest since April 2013). It appears all the "Russia is selling" chatter … [Read more...]

Gold Ends Week Strongly

Gold closed out the week very strongly at 1276.90. This is above its 200 daily moving average. The relative strength indicator also closed above 70 which is bullish. The +DI line for the ADX indicator is above the -DI line indicating that bulls are in control of this market. Additionally, the ADX line itself is showing an upward trend. Though this is still in the low figures, it does indicate … [Read more...]

Russia Bought 18 Tons Gold In November

Peter's Commentary: Russia did not sell Gold in November 2014. Russia bought gold. From www.BullionStar.com, Koos Jansen, December 19, 2014 There are rumors doing the rounds that Russia is selling gold. My first reaction to this news was that is contradictory to what Putin stands for. Russia has been the most openly aggressive buyer of gold in the past years and Putin never made it … [Read more...]

Gold – Detailed Charts and Technical Analysis

Monthly Gold Chart Looks Bearish The MACD, ADX and RSI indicators are negative (bearish). I did not draw a trend line on the price chart, but if I had, you would notice that Friday's close was below the trend line. Weekly Gold Chart: Gold closed on Friday at 1222. There is resistance at 1250.  ADX indicator shows bears are still in control of this market...the negative DMI is … [Read more...]

Ukraine Turns On Its Central Bankers After Discovering Gold Gone

Peter's Commentary Ukraine's people are getting angry about their missing gold. From ZeroHedge, 12/2/2014: As reported two weeks ago, following a stunning announcement by the head of Ukraine's central bank, Valeriya Gontareva, on primetime TV we learned that (virtually) all of Ukraine's gold was gone, or - in the parlance of Jon Corzine - had "vaporized." And as we also predicted two … [Read more...]