comex

Gold stocks possibly oversold

Filed in African Gold, Bank Gold, comex, Gold, o by on January 17, 2011 0 Comments

Thus, a 5% move in bullion should have translated out to somewhere around 8% on gold stocks . You can see the rather sharp disconnect that began in late December between gold bullion (red line) as represented by Horizons BetaPro Comex …

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Gold Backs Off High, But Overall Uptrend Remains in Place

Filed in comex, gld, Gold, Gold Futures, Gold Market, Gold Prices, o by on January 8, 2011 0 Comments
Gold Backs Off High, But Overall Uptrend Remains in Place

February Comex gold futures prices have backed down from the early-December all-time record high of $1,432.50 an ounce. Profit- taking and position-evening as the year winds down and as the holidays approach has put some downside price pressure on the precious yellow metal, as prices have been trending lower for the past two weeks. However, the gold market bulls still have the overall near-term and longer-term technical advantage. A 4.5-month-old uptrend is still in place on the daily bar chart. The longer-term monthly continuation chart for nearby gold futures shows prices have been trending higher for nearly 10 years. There are no significant early technical clues to suggest that a market top is close at hand for gold. Gold bulls’ next near-term upside technical objective is to produce a close above solid technical resistance at last week’s high of $1,408.90. Bears’ next near-term downside price objective is closing prices below solid technical support at last week’s low of $1,361.60. First resistance is seen at $1,400.00 and then at $1,408.90. Support is seen at Tuesday’s low of $1,384.10 and then at Monday’s low of $1,376.60. Stay tuned! Jim Wyckoff Related articles Peter Brimelow: Gold could have a golden year end (marketwatch.com) Gold: strong nerves and patience of ten men (investmentpostcards.com) Is Gold Getting Precious Again? (GLD, GDX, GDXJ) (247wallst.com)

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Junior Gold Stocks to Shine in 2011

Junior Gold Stocks to Shine in 2011

Last Friday, I urged Wealth Daily subscribers like yourself to buy gold and silver ahead of major buying that needed to take place this week to satisfy contractual COMEX obligations before the end of the trading day today… Gold and silver prices have remained volatile in both directions since October. But indications from the COMEX show suggest we may see a spike in these precious metals prices next week… Contracts for gold and silver December futures that demand physical metal must be met by then. But there appears to be a significant shortfall in the actual physical metal required to meet these demands — especially in silver. If these contractual obligations are not met by the 12/31/10 deadline, then we could see a default scenario, which would drive the metals prices even higher and cause great instability for other markets as well. This is exactly what happened. Advertisement This Play Just Keeps Making Money – 155%… 323%… 900%… ???% A few months ago, I released a special video on a tiny Mongolian oil company. I predicted this little-known company would go absolutely ballistic once drilling results came in. And boy was I right. Early investors had a shot at 900% gains. And the way I see it, we’ll see a repeat very soon. So check out this video on the matter and make sure you’re one of the early birds this time around.  Significant buying of physical gold and silver to meet COMEX futures drove bullion prices much higher this week. Take a look: While the physical bullion market is rising, junior mining shares are starting to get some attention once again. Junior mining stocks are even more speculative— but their risk/reward tradeoff amplifies potential gains even further. And when junior gold stocks are in favor, they can quickly return legendary gains. There’s just one little problem… There are over 1,000 junior mining companies listed on the TSX Venture exchange alone. And it’s very difficult to sort through all the promotions and scams to find solid junior gold stocks. Going through all those companies was a very time-consuming and nerve-racking ordeal… So, if you don’t …

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Gold and Silver Prices to Spike Next Week

Gold and Silver Prices to Spike Next Week

Gold and silver prices have remained volatile in both directions since October. But indications from the COMEX show suggest we may see a spike in these precious metals prices next week… As prices moved higher over the past two weeks, strong bouts of profit taking have hit the gold and silver markets in each instance, stalling the next attempt to hit another new high. World Gold and Silver Demand World investment demand for gold has increased 250% in the past ten years. Investment demand for silver has skyrocketed 522% since 2007. Sales of official gold coins (like the American Gold Eagle) have increased 618% since 2007. World governments are hoarding silver; official sales have plummeted 83% in the past three years. Gold demand for ETFs has increased 20,470% since 2002. Above-ground silver supplies dropped 86% last year. Industrial demand for silver has increased over the past decade, despite a 236% increase in prices. On the downside action over the past two weeks, strong buying support has come in as precious metals prices looked like they were going to sell off— thus our current holding pattern in gold and silver prices. This will change to the upside within the next two weeks as major buying of physical metal will need to take place in order to meet contractual obligations on the COMEX before December 31, 2010. Contracts for gold and silver December futures that demand physical metal must be met by then. But there appears to be a significant shortfall in the actual physical metal required to meet these demands — especially in silver… If these contractual obligations are not met by the 12/31/10 deadline, then we could see a default scenario, which would drive the metals prices even higher and cause great instability for other markets as well. This potential default is due to the fact that JP Morgan Chase, the largest fractional stock holder of the Federal Reserve, has been wildly shorting silver and is now caught between a rock and a hard place. Word on the street is that JP Morgan Chase has opted to go massively long copper in an attempt to hedge their losses in silver, which could be enormous. This is…

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Ivanhoe (NYSE:IVN ), Gammon (NYSE:GRS), Yamana (NYSE:AUY) Make Big Moves Up as Gold Prices Soar

Ivanhoe Mines (NYSE:IVN ), Gammon Gold (NYSE:GRS) and Yamana Gold(NYSE:AUY) have all made big upward moves in their share prices today as gold prices came roaring back, as the U.S. dollar fell back to earth where it belongs. Spot gold prices rose by $18.30, increasing to $1,354.10 an ounce as of this writing. Gold futures for December delivery rose to $1,346.90 on the Comex division of the New

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Goldman Sachs’ New 12-Month Gold Forecast: $1,650 an Ounce

Goldman Sachs’ New 12-Month Gold Forecast: $1,650 an Ounce

Investment powerhouse Goldman Sachs now believes gold may rally more that 20 percent from this month’s record to $1,650 an ounce in 12 months citing further quantitative easing in the United States and the prospect for falling long-term interest rates. Goldman also raised its three- and six-month gold price forecasts to $1,400 and $1,525 an ounce, respectively. Analysts from Goldman Sachs wrote in a report this week: With U.S. real interest rates pushing lower off the slowdown in the pace of the U.S. economic recovery and the growing prospect of another round of quantitative easing, we expect gold prices to continue to climb…. Despite the rebound in net speculative length, it remains well below levels consistent with the current low U.S. real interest rate environment… The return to quantitative easing will likely be a strong catalyst to drive gold prices higher, and we expect the gold price rally to continue until U.S. monetary policy begins to tighten. The investment bank expects the Federal Reserve to return to quantitative easing with purchases of U.S. Treasury securities of $1 trillion, which should depress U.S. bond yields. The analysts recommended buying Comex December 2011 gold futures. They also recommended investors buy Nymex January 2011 platinum, saying that “recovering global automobile demand will likely continue to put upward pressure on auto-catalyst demand and therefore on platinum and palladium prices.” Good Investing, Luke Burgess Editor, Wealth Daily Investment Director, Hard Money Millionaire and Underground Profits Goldman Sachs’ New 12-Month Gold Forecast: $1,650 an Ounce originally appeared in Wealth Daily . Wealth Daily is a free daily newsletter featuring contrarian investment insights and commentary.

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Gold Prices Today Pick Up After Noon

Gold prices today plummeted in morning trading, as on the Comex division of the New York Mercantile Exchange they dropped to as low as $1,341.10.Spot gold also rebounded to surpass the $1,350 an ounce mark, also dropping to almost $1,340 earlier in the trading session.Major gold miners like Barrick Gold (NYSE:ABX), Newmont Mining (NYSE:NEM) and Goldcorp (NYSE:GG) were all still down at about 1:00

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Gold Prices Today Rise as Fed Expected to Inflate

As the economic news continues to get worse, gold investors continue to push gold prices up as expectations the Fed will inflate or implement quantitative easing sometime soon, grows. Gold futures’ prices today have surged to $1,346.20 for December delivery, rising $11.20 on the Comex in New York. Also continuing to fuel the gold price bonanza is the ongoing collapse of the U.S. dollar. Much

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Physical Metals Run on LBMA in Play NOW. COMEX Next? | Wall Street …

Filed in Australian Gold, Bank Gold, comex, depression, Gold by on October 3, 2010 1 Comment

Adrian Douglas of GATA reports: It appears that a run on the bullion banks has commenced. There is a cover-up of back-door injections of liquidity of physical gold , and the LBMA now is trying to conceal trading information. …. if there is a run on bullion on the stock market or metals exchange it WOULD BE DAMN SAFE TO ASSUME the markets will tank like they did in the great depression . omg this is golden info THANKS COMEX and TSX is next god bless. zalida100 …

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Gold Prices Surpass $1,300 as Dollar Plummets in Value

There are so many variables, which when combined, provide the perfect storm for gold prices, and at any one time one or the other can be highlighted, continuing to push the price of gold upward.Today’s record gold price, where gold futures traded as high as $1,301.30 an ounce on the COMEX, was moved largely by the weakening U.S. dollar, which has shrunk against the euro (EUR/USD), gaining over

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The Autumn Un-Equinox

Filed in comex, commodities, deflation, economy, enbridge, euro, Gold, obama, silver by on September 23, 2010 0 Comments

The Autumn Un-equinox. Gold sizzles, oil fizzles in the aftermath of the Fed promise to reinflate the economy. Oil and the leafs are beginning to fall as demand for oil and the economic outlook continue to weigh heavily. The disparity between gold and oil recently seem to reflect the despair that we are feeling from the FOMC committee or perhaps the Obama economic team. Now this morning the market fears that demand for oil may fall in Europe as well after a euro-zone purchasing managers’ survey fell to 53.8 in September from 56.2 in August the slowest pace in 7 months. While their manufacturing sector is still expanding the market was looking for a number closer to 55.7%. This slower pace comes a day after a very bearish Energy Information Agency report that showed a surprise increase in crude supply and a depressing feeling on demand. If you were worried about the impact that the Enbridge pipeline shutdown and inclement weather might have had on supply I guess you shouldn’t have because supplies increased anyway. Crude defied expectations rising by 1.0 million barrels while demand was lousy. Total oil use was the lowest since last July. The EIA said that total products supplied averaged only 19.5 million barrels per day. Yes it was up by 1.6 percent compared to the similar period last year but last year was a disaster. Gasoline demand has averaged 9.1 million barrels per day, down by 0.1 percent from the same period last year. That’s right! Down!!! On the positive side of the demand equation distillate fuel demand has averaged 3.8 million barrels per day over the last four weeks, up by 12.9 percent from the same period last year. That demand is being driven by farmers using diesel to harvest crops. The demand also reflects strong US exports to South America where they want to get those crops in to take advantage of the current high grain prices. Jet fuel Demand came in at 2.4 percent higher over the last four weeks compared to the same four-week period last year. Are you ready for another way to try to take advantage of the volatility in oil and gold? Well the CME Group has got you covered and they want you to know that in the fourth quarter of 2010 it will begin offering futures and options contracts based on gold and oil volatility indexes that have become so popular. The CME says that the futures will combine CME Group’s options market data with the Chicago Board Options…

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Gold Prices Reaching for New High Today

Gold prices today have soared on the news the so-called stress tests of the European banks probably didn’t accurately portray the level of government debt they held. In mid-day, gold for December delivery increased to $1,261.60. If it were to close at those levels, it would surpass the record high of $1,258.30 an ounce, set on the Comex division of the New York Mercantile Exchange in June,

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