Gold Correction

Eldorado (NYSE:EGO), AngloGold Ashanti (NYSE:AU), Novagold Resources (AMEX:NG) Rise as Gold Prices Today Rebound

It was only a matter of when and not if, gold prices were going to resume their upward move, and it appears the temporary correction in gold may be over, and gold miners like Eldorado (NYSE:EGO), AngloGold Ashanti (NYSE:AU), Novagold Resources (AMEX:NG) are participating in the rise in gold prices today. We can’t be certain the gold correction is over yet, but the news Ireland is going to be

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Alamos Gold (TSE:AGI), Agnico Eagle (TSE:AEM) Fall with Gold Price Drop

Gold miners are probably all glad the brutal gold correction of last week seems to have taken a breather, as gold prices, along with the price of gold mining shared plunged, and gold miners like Alamos Gold (TSE:AGI) and Agnico Eagle Mines NYSE:AEM)(TSE:AEM) participated strongly in that drop in share price, along with most of their colleagues.Alamos Gold ended their week on the upswing, gaining

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How Low Gold Prices Going?

We continue on in the gold correction, and it of course generates the question of how low gold prices will go before they start their move upward again. The best thing to consider at this time with gold prices is not how low they will go, but using it as a buying opportunity as it falls, as there’s absolutely no doubt gold will rebound, and when it does, those getting in on the lower prices will

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Goldcorp (TSE:G), Barrick (TSE:ABX), Newmont Mining (NYSE:NEM), All Down Since Last Week

Goldcorp (NYSE:GG) (TSE:G), Barrick (TSE:ABX) (NYSE:ABX) and Newmont Mining (NYSE:NEM) continue to follow the price of gold down in the midst of a temporary correction, as increased worries over the debt crisis in the European Union, consequences from banking regulation, and China inflation weighs on the market.All three of these major gold miners are now down over 10 percent each since Bear

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Gold Fields (NYSE:GFI), AngloGold Ashanti (NYSE:AU) Continue Plunge

South African miners Gold Fields (NYSE:GFI) and AngloGold Ashanti (NYSE:AU) continued their plunge, along with the prices of gold today, as the gold correction continues, and investors put their money into what they consider safer investments.Many investors have also been taking profits from the recent soaring gold prices, as well as the shorts have been betting against it, pushing down prices

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Gold Prices Fall on Profit-Taking

There’s no doubt we’re in a short period of a correction of gold, which is always going to be inevitable as the gold bull market continues.All this means is those selling the gold aren’t investors but traders, and they’re foolishly selling their positions to draw out a little of the profit coming from the quick rise in gold prices over the last week or two.Gold is now well off its recent record

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Gold Futures at Two-week Low

Gold Futures DropGold futures dropped to their lowest levels in two weeks as stop-losses triggered sales.Other than taking a temporary breather, there was no news which caused the yellow metal to slide. Gold ended the session at $1,107.80 an ounce on the Comex division of the New York Mercantile Exchange.Gold Futures Drop

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Will a Dollar Rally Lead to a Gold Correction?

Filed in Debt, economy, Gold, Gold Correction, New Gold, US Dollar by on November 18, 2009 0 Comments
Will a Dollar Rally Lead to a Gold Correction?

So this is what it feels like in an inflationary melt up. House prices were up 6.2% in the third quarter over the same time last year, according to data from the Australian Bureau of Statistics. House prices in the capital cities are surging. Stocks are surging. Gold and oil are surging. And counter to our prediction of an imminent, counter-trend U.S. dollar rally, the dollar is most definitely not surging. Take a look at the chart below. We’ve been writing about the decline of the dollar for nigh on ten years. So we looked at a ten-year chart to tally up the damage. It is considerable. Dollar Index Threatens New Lows What’s at stake with the interpretation of this chart? If the dollar rallies on short covering from the dollar carry trade (a BIG if), then other “risk” assets like gold, stocks, and emerging markets would probably sell off. The chart shows that the index’s 50-week moving average is set to cross below its 200-week moving average. That is mixed news. The first time it happened on this chart was back in early 2003. That was the early days of a long decline in the index. The second time, though the move failed to confirm the “flight to safety” rally of 2008 had staying power in 2009. Once the fear that gripped markets in 2008 went away, the investment world sold the dollar and started borrowing en masse to buy other, higher-yielding currencies and assets (like the Aussie dollar and resource stocks). That’s where we are now. But based on the chart, is the next move down in the dollar index a new low, which the crossing of the long-term MA by the short-term MA would suggest? Or is it a false move? Will the dollar quickly and violently rally for some reason (geopolitical perhaps) that currently remains unknown to the human beings of this world? “It’s an interesting chart,” said our technical analyst Murray Dawes. “But it is not useful for timing your moves out of or into trades related to the dollar’s movement.” “So you’re saying our chart doesn’t have any useful information from a trader’s perspective?” “Not really.” The one piece of important information communicated by our chart is that the dollar’s trend is down. But there IS a catch. The catch is that when this many people are this uniformly bearish, everyone is probably wrong. Consider this a warning then, that a dollar rally is just the sort of thing that will lead to a correction in the gold price and the stock market. We won’t speculate on the sort of things that could lead to a dollar rally. But surely they’re out there and sooner or later they’ll come. The other possibility is that the dollar is in its death …

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Will a Dollar Rally Lead to a Gold Correction?

Filed in Debt, economy, Gold, Gold Correction, US Dollar by on November 18, 2009 0 Comments
Will a Dollar Rally Lead to a Gold Correction?

So this is what it feels like in an inflationary melt up. House prices were up 6.2% in the third quarter over the same time last year, according to data from the Australian Bureau of Statistics. House prices in the capital cities are surging. Stocks are surging. Gold and oil are surging. And counter to our prediction of an imminent, counter-trend U.S. dollar rally, the dollar is most definitely not surging. Take a look at the chart below. We’ve been writing about the decline of the dollar for nigh on ten years. So we looked at a ten-year chart to tally up the damage. It is considerable. Dollar Index Threatens New Lows What’s at stake with the interpretation of this chart? If the dollar rallies on short covering from the dollar carry trade (a BIG if), then other “risk” assets like gold, stocks, and emerging markets would probably sell off. The chart shows that the index’s 50-week moving average is set to cross below its 200-week moving average. That is mixed news. The first time it happened on this chart was back in early 2003. That was the early days of a long decline in the index. The second time, though the move failed to confirm the “flight to safety” rally of 2008 had staying power in 2009. Once the fear that gripped markets in 2008 went away, the investment world sold the dollar and started borrowing en masse to buy other, higher-yielding currencies and assets (like the Aussie dollar and resource stocks). That’s where we are now. But based on the chart, is the next move down in the dollar index a new low, which the crossing of the long-term MA by the short-term MA would suggest? Or is it a false move? Will the dollar quickly and violently rally for some reason (geopolitical perhaps) that currently remains unknown to the human beings of this world? “It’s an interesting chart,” said our technical analyst Murray Dawes. “But it is not useful for timing your moves out of or into trades related to the dollar’s movement.” “So you’re saying our chart doesn’t have any useful information from a trader’s perspective?” “Not really.” The one piece of important information communicated by our chart is that the dollar’s trend is down. But there IS a catch. The catch is that when this many people are this uniformly bearish, everyone is probably wrong. Consider this a warning then, that a dollar rally is just the sort of thing that will lead to a correction in the gold price and the stock market. We won’t speculate on the sort of things that could lead to a dollar rally. But surely they’re out there and sooner or later they’ll come. The other possibility is that the dollar is in its death throes and that this is the big one, in currency terms. That is such a momentous and disastrous event …

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Gold Prices Will Continue Rising

Gold PricesNews on the street has been a number of investors are allegedly believing gold is experiencing a bubble, and so it may be time to get out and take some profits. I don’t believe that’s true.The reason I said allegedly above is because of the possibility that speculators who did in fact believe gold prices would fall shorted the market, and so now that they’ve been getting clobbered over

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