Gold and What Moves it.
81
Tracking all things that relate to and affect the price of gold.
Curated by Hal
Follow
Scooped by Hal onto Gold and What Moves it.
Scoop.it!

Gold remains in tight range

Gold remains in tight range | Gold and What Moves it. | Scoop.it
From www.bullionstreet.com - January 18, 11:52 AM
Gold rallied back and hard to reach 1687 - facing resistance at the top of the Bollinger band and as shorts covering happened, more buying emerge.

 

By Robert Jillies
Short Term: Gold was initially down by $ 10.00 after the jobless claim data that was widely anticipated as the Fed tied QE with the unemployment rate. The biggest shock came from the negative reading of the Philly Fed Manufacturing and other market indicator shows that the Fed actually prop more liquidity.

Gold rallied back and hard to reach 1687 - facing resistance at the top of the Bollinger band and as shorts covering happened, more buying emerge. Our guesses were for tomorrow is as good as the Chinese GDP numbers. Short term gold powered to 1697 and resisted 1700 and that could either mean more range trading as it consolidate the recent Bull Run. We look for support at 1670 area again. Failing that we see 1665 and 1650.

Medium Term: Note on the 4 hourly chart, prices are currently at the top range and the bull camp are roaring again. It was lifeless until a quick reversal and now it’s testing to break 1700. Our assumption that prices should find support before moving higher was proven. We view that gold is well ...

  • Comment
  • +
No comment yet.
Sign up to comment
Delete the scoop?

Are you sure you want to delete this scoop?

Yes No
Related Scoops
The Golden Truth: What's Fueling The Stock Market?
Geologists discover new gold-copper mine in China
Unprecedented price, currency volatility to test mining companies—E&Y - TECHNOLOGY - Mineweb.com Mineweb
Your new post is loading...
Scooped by Hal
Scoop.it!

This Is About To Rock The Financial World

This Is About To Rock The Financial World | Gold and What Moves it. | Scoop.it
From kingworldnews.com - January 10, 12:58 PM

Eric King:  “Kevin, I know you’ve been communicating with many of the sovereign wealth funds overseas.  What are you hearing from them?”

 

Sprott Inc. President Bambrough:  “The burning question that I always have, I’m amazed at their ongoing willingness to continue to accumulate, and hold, such large amounts of US denominated bonds.  It’s been my view that they are basically playing a Ponzi scheme.

 

I’ve had that confirmed when I’ve had long discussions with different sovereign wealth funds and different government agencies around the world.  They’ve been willing to play this game, but more and more now, as their domestic economies have grown and the US portion of their exports becomes smaller, and with the amount of T-Bills that they have (already) accumulated, I believe they’ve reached the boiling point where they are really going to be unwilling to grow their reserves (of US Treasuries).

 

Just the process of not growing their reserves is going to be very disruptive.  If they are not willing to accumulate more T-Bills, this is going to force the trade deficit closed.  I think that is really going to rock the financial world at some point in the near future.

Hal's insight:

click over for the rest of the King World News. I've been wondering about this for some time mysefl, musing that once this begins to pick up steam around the globe that the fear will break out in DC. Pretty much because the emperor will be shown to have no clothes.

No comment yet.
Sign up to comment
Delete the scoop?

Are you sure you want to delete this scoop?

Yes No
About Media Follow us How it Works Legal Mobile Developers
Facebook
Twitter
Google +
LinkedIn