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...]

Bitcoin Is the Future?

Peter's Commentary John Mauldin has just published one of his letters for "Thoughts From The Frontine".  I advise everyone to read this article in full. I have included a couple of excerpts below: From: Thoughts From The Frontline, John Mauldin and Worth Wray, 12/2/2014 The Five Phases of Adoption In an effort to understand how Bitcoin could continue to mature, I sat down with Barry … [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...]

SSS% – Silver Soars Seventeen Percent

Peter's Commentary Silver soars more than 17% from its intraday lows.  That's huge! Gold is also up more than $70 to over $1210.  Volume is also high. From Zerohedge, 12/1/2014: The biggest intraday positive swing on record... ($16.82 is next test for SIlver at 50DMA)   And gold and silver are exploding... (gold has broken above its 50DMA at $1205)   Silver … [Read more...]

India Removes Restrictions On Gold Imports

Peter's Commentary The Indian Government's decision to remove gold restrictions is unlikely to change the near term bearish outlook for gold prices. From Kitco, Neil Christensen, November 28, 2014 On Friday, the Indian government removed its current 80:20 import rule, which said that 20% of all imported gold had to be mandatorily exported before any new shipments could be brought in. … [Read more...]

Largest Foreign Gold Withdrawals In Over Ten Years

Peter's Commentary: So now we have it officially: 42 tonnes of gold were withdrawn during October according to the NY Fed's monthly reports. According to ZeroHedge, 11/29/2014: A week ago, when we reported that in a stunning move, the "Dutch Central Bank Secretly Withdrew 122 Tons Of Gold From The New York Fed", and when looking at the NY Fed's monthly reports of gold deposits by foreign … [Read more...]

Gold…Most Sought After Metal On Earth – 1 of 5

Stats You Should Tweet: Gold is the most sought after metal on earth »tweet« The Romans were the first to use gold and silver in a widespread monetary system »tweet« During Roman Times, the silver to gold ratio was 12:1. Today it is 66:1 »tweet« Gold is rare…The world gold supply increases by only 1% to 2% per year »tweet« Gold is immortal. Gold does not react with air, moisture, or … [Read more...]