Showing posts with label Gold. Show all posts
Showing posts with label Gold. Show all posts

Saturday, August 29, 2015

Gold Analysis As At August 28, 2015

This past week has seen the metal rise a few dollars, perhaps we can analyze gold to a certain extent and see what may be occurring.

I have several charts in this post, each one has its own story to tell.

This first chart shows the Ichimoku Cloud, interesting is that price went up to the resistance of the cloud and then retraced, and then repeated. The cloud has strong resistance to price moving higher.








This next chart , a 240 minute chart shows a Fibonacci pattern, a bearish AB = CD which could mean that price will go south. These patterns are not always accurate, this is merely an indication which would have to be confirmed by price action.




This next daily chart illustrates the current price channel in which price is contained, often price will move from one side to the other of the channel, the channel indicator is designed to contain the price. It seems, from the two prior charts, that the middle line of the channel is where there is significant resistance to an advance at this time.






 This chart is also a 240 minute showing the Camarilla indicator, price action often takes place between these lines which have been set up to measure potential moves, and it is not always accurate, just an indication that has to be verified by price action.





This last chart is a monthly chart, the indicator in the lower chart is the Commodity Channel Index. I wanted to post this chart so as to point out the bullish divergence. The period of divergence on this chart is just over two years long which indicates that it is a powerful signal. Again, divergences do not always result in a price move, they have to be confirmed by price action, In this case I tend to believe that there will be a bullish move as months pass.





Have a great weekend!


Friday, August 14, 2015

Gold Analysis As At August 14, 2015

 

Is Gold Starting to Move Up or Is This A False Start?

 

It may well be that it is time to re examine your gold trading strategy as there may be some opportunities very soon.

You will see some interesting things in these charts and also in the articles lower on the page. The devaluation of the Yuan and the increased position in Gold by China have excited the metal.

 

This first chart is a monthly chart on Gold showing three drives to the bottom and that will be a bullish pattern.

 

image

 

Today, price met the pivot and reversed.

 

image

The resistance is in the 25% retracement area, which leads me to wonder if this reversal is very strong. Perhaps we will know next week if this is a retrace and that we will see a stronger advance.

image

The Ichimoku chart demonstrates that a great rise in price will encounter a lot of resistance as price meets the Ichimoku cloud. There has been downward pressure on the price of Gold for many months, only for a short time could it attempt to push through the cloud.

image

Here is the Point and Figure chart for Gold, it is not showing any great signs of an advance.

image

 

 

Here are some recent articles discussing various aspects of the gold market

 

XAU/USD Corrects Lower To 1114 - Action Forex

http://news.google.com Fri, 14 Aug 2015 08:41:00 GMT

XAU/USD Corrects Lower To 1114Action ForexXAU/USD Corrects Lower To 1,114. 'A further decline in volatility may reverse some of bullion's recent 'safe-haven' inspired gains.' - HSBC (based on CNBC). Pair's Outlook. Gold declined on Thursday, as worri ...

Read more ...

FxWirePro Gold rallies finally - Stay on with XAU-USD diagonal call spreads ... - EconoTimes

http://news.google.com Fri, 14 Aug 2015 10:21:00 GMT

EconoTimesFxWirePro Gold rallies finally - Stay on with XAU-USD diagonal call spreads ...EconoTimesAlthough XAUUSD has finally shown a bounce back after long streaks of bear candles but its reversal is yet be confirmed by other indicators. It has sho ...

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Gold (XAUUSD) Big Picture Triangle Still In Play, Resistance Zone Eyed - CFD Trading

http://news.google.com Fri, 14 Aug 2015 12:06:00 GMT

CFD TradingGold (XAUUSD) Big Picture Triangle Still In Play, Resistance Zone EyedCFD TradingThe rebound in gold continues towards a major zone of resistance between 1130 and 1160. This area constitutes the November low at 1130, March low at 1142, and ...

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Gold is Crashing! No, Wait, it's Booming! So What's Really Going on With Gold? - TIME

http://news.google.com Fri, 14 Aug 2015 14:59:00 GMT

TIMEGold is Crashing! No, Wait, it's Booming! So What's Really Going on With Gold?TIMEGold is a little strange as far as commodities go. You don't run your car on gold. It doesn't heat your home, and you can't eat it. It doesn't generate profits or p ...

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Why Now Is A Great Time To Buy Gold - Forbes

http://news.google.com Fri, 14 Aug 2015 07:29:47 GMT

ForbesWhy Now Is A Great Time To Buy GoldForbesWith gold's recent decline to below $1,100 an ounce, I believe today is one of the best times to own gold. My three reasons for buying gold that I discussed in February have remained valid. I now want to ...

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Gold's loud message to stock bulls - MarketWatch

http://news.google.com Fri, 14 Aug 2015 18:33:00 GMT

Gold's loud message to stock bullsMarketWatchGold is a controversial metal. Some people hate it as an investment because it provides no income, and is a "relic of the past.” Some people love it, arguing it is the safest form of currency in the world ...

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China reveals increase in gold holdings - Financial Times

http://news.google.com Fri, 14 Aug 2015 10:30:46 GMT

Motley FoolChina reveals increase in gold holdingsFinancial TimesChina released data on its gold holdings for the second time in a month on Friday in a sign of greater transparency as it moved to an international standard of reporting its reserves. T ...

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Gold Caps Biggest Rally Since June as Haven Appeal Shines Again - Bloomberg

http://news.google.com Fri, 14 Aug 2015 15:16:34 GMT

ForbesGold Caps Biggest Rally Since June as Haven Appeal Shines AgainBloombergGold capped the biggest weekly gain in two months as the metal's haven appeal finally started attracting investors again. China's unexpected yuan devaluation this week roil ...

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Roundup of Posts for the Past Week


This past week saw changes in the value of many currencies due to the repricing of the Yuan. The Yield Curve was of interest also as the date for the supposed rate increase approaches. Oil was priced at new lows, Gold seem to have bottomed, a lot happened in the past several days.

Here are the posts from the past week.

http://boutiquetradingstrategies.blogspot.ca/2015/08/heiken-ashi-smoothed-renko-trading.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/chinese-yuan-depreciates-further-what.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/renko-moving-average-trading-strategy.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/cci-trading-strategy-as-at-august-13.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/yield-curve-articles-as-at-august-13.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/eurusd-trading-strategy-as-at-august-13.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/how-canadian-loonie-is-relating-to.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/crude-oil-as-at-august-12-2015.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/highest-traded-individual-stock-from_12.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/audusd-trading-strategy-as-at-august-12.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/news-about-chinese-yuan.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/audusd-trading-strategy-as-at-august-11.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/highest-traded-individual-stock-from_11.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/china-has-enormous-effect-on-markets.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/highest-traded-individual-stock-from.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/a-look-at-interest-rates-as-at-august.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/highest-traded-individual-stocks-from.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/eurusd-as-at-august-10-2015.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/yield-curve-articles-as-at-august-8-2015.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/a-look-at-interest-rates-as-at-august-8.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/audusd-trading-strategy-as-at-august-8.html
http://boutiquetradingstrategies.blogspot.ca/2015/08/eurusd-trading-strategy-as-at-august-8.html

Thursday, August 6, 2015

Recent Gold Trading Strategy As At August 6, 2015





Fear Spreading In The Global Financial System Pushes Gold & Silver Eagle Sales ... - SilverSeek.com
Sat, 01 Aug 2015 21:11:09 GMT
Fear Spreading In The Global Financial System Pushes Gold & Silver Eagle Sales ...SilverSeek.comWith the continued uncertainty in the global financial system, investors purchased record Gold and Silver Eagles. Sales of Gold and Silver Eagles remained ...
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Gold Starts August with Decline; Silver Eagle Sales Top 28M - CoinNews.net
Mon, 03 Aug 2015 20:01:55 GMT
Gold Starts August with Decline; Silver Eagle Sales Top 28MCoinNews.netPrecious metals futures kicked off the new trading week and month with losses ranging from 0.5% for gold to 1.8% for platinum. Gold edged near a fresh 5-1/2-year settlement low. G ...
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XAU/USD Silent For Second Consecutive Day - Action Forex
 Thu, 06 Aug 2015 08:37:00 GMT
XAU/USD Silent For Second Consecutive DayAction ForexXAU/USD Silent For Second Consecutive Day. '(That) appears to be a level [1,080] that many traders have put their stop-loss in because every time it breaches that level there's a swift decline.' - ...
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Gold (XAUUSD) Remains Capped - Preserves Bearish Momentum - CFD Trading
 Wed, 05 Aug 2015 15:23:00 GMT
CFD TradingGold (XAUUSD) Remains Capped - Preserves Bearish MomentumCFD TradingLooking at the XAUUSD chart on my end, you can see we're stuck in this very tight range. Another component that I'm watching is the RSI. Not only do we have that bearish m ...
Read more ...

Executive Order For Your Gold

This article was extracted from Gold Eagle.

When America was five-years deep into The Depression of 1933, the stage was set for an act of unprecedented proportions. History shows a wicked warlock at work.
On March 6, 1933, Executive Order (EO) 6073 was passed by Franklin Delano Roosevelt (FDR), the 32nd President of the United States in an attempt to solve the dire banking crisis. Executive orders have been around since 1789, allowing Presidents to issue legally binding orders unilaterally, without the consent of Congress. During his Presidential tenure, from 1933 to 1945, Roosevelt would issue 3,728 Executive Orders.
This was his third and it was a doozy. I could just imagine how angry and frustrated individuals would have been. I doubt this will happen again but history does have a way of repeating...

gold executive order




Just two days after Roosevelt was inaugurated as President, he proclaimed a "banking holiday". From and including Monday, March 6, 1933 to Thursday, March 9, 1933 no bank "would pay out, export, earmark, or permit the withdrawal or transfer in any manner or by any device whatsoever of any gold or silver coin or bullion or take any other action which might facilitate the hoarding thereof..." Sold to the American people as an attempt to control speculation and regulate interest rates, he closed America's banks, thwarting customers from withdrawing their paper money holdings or converting their holdings to gold.
With a swish of his magic wand, Roosevelt mastered "complete control over America's banking system", expanding his Presidential powers exponentially in the process.
In his first "Fireside Speech" (which burned the backside of many Americans) on March 12, 1933 Roosevelt declared "Let me make it clear to you that the banks will take care of all needs, except, of course, the hysterical demands of hoarders, and it is my belief that hoarding during the past week has become an exceedingly unfashionable pastime in every part of our nation. It needs no prophet to tell you that when the people find that they can get their money -- that they can get it when they want it for all legitimate purposes -- the phantom of fear will soon be laid. People will again be glad to have their money where it will be safely taken care of and where they can use it conveniently at any time. I can assure you, my friends, that it is safer to keep your money in a reopened bank than it is to keep it under the mattress."
On June 16, 1933, EO 6073 passed into legislation as the "Emergency Banking Act (EBA)". After only 40 minutes' debate in the House of Representatives, with an unknown author and no printed copies available for members of the House, the Bill was passed swiftly and without due process. The wand was waved again.
At the time, Congressman Lundeen, appalled at the reckless lack of due process involved in the passing of this Bill said "I want to put myself on record against procedure of this kind and against the use of such methods in passing legislation affecting millions of lives and billions of dollars. It seems to me that under this bill thousands of small banks will be crushed and wiped out of existence, and that money and credit control will be still further concentrated in the hands of those who now hold the power.... I am suspicious of this railroading of bills through our House of Representatives, and I refuse to vote for a measure unseen and unknown."
Meanwhile, Executive Order 6073 paved the way for Executive Order 6102 on April 5, 1933.
This Executive Order (EO) made it a criminal act to possess gold coins, gold bullion and gold certificates within the continental United States and ordered that the hoarded gold be delivered to the Government on or before May 1, 1933. The official price of gold was raised from $20.67 to $35/ounce.
Although it is unknown just how much gold was confiscated by means of Executive Order 6102, numbers suggest that by January 1934, there were 195.1 million ounces and 227.9 million ounces by August 1934.
The Government had to have some place to hoard the confiscated gold. So, Executive Order 6102 paved the way to Fort Knox. The U.S. Treasury Department began construction of the United States Bullion Depository (USBD) in 1936. Completed in December of that year, at a cost of US$560,000, the Gold Vault sits in a 109,000-acre Army enclave in Fort Knox, Kentucky.

The U.S. Mint states that 147.3 million ounces of gold are now tucked into Fort Knox. Guarded by Apache helicopter gunships and tucked into a bunker with a bomb-proof roof and thick granite walls, you'd think that 147.3 million ounces of gold would be safe in the vault. While Treasury officials insist that the "gold is all there", why the resistance to a public audit? 
Congress begs off, saying it will cost US$60 million to test the gold. Other figures bandied about suggest US$15 million. Other so-called experts contest both figures, stating that an independent audit and assay could be conducted for as little as US$15,000.
More nefarious are that the numbers don't add up...and never have. In his article The Great American Disaster: How Much Gold Remains In Fort Knox?, dated August 27, 2010, Chris Weber states that, at their peak in 1949, the Fort Knox reserves reputedly numbered 701 million ounces - 69.9% of all the gold on the planet. The latest figures reported by the U.S. Mint state that 147.3 million ounces of gold are now tucked into Fort Knox. Treasury subsequently downgraded this figure from 264 million ounces of gold, a decline of 79%! Lucy, you got some 'splainin' to do.
Clearly, the road to - and from - Fort Knox is paved in gold and not-so-gold intentions. Tales of pillaging, profiteering and skullduggery abound at the crossroads of Bullion Boulevard and Gold Vault Road. Masked interlopers didn't rob the USDB. Reputed to be the second most secure place in the world (as reported in The Blogington's post of September 21, 2010), the video cams, armed guards, attack helicopters, armored personnel carriers, and 30,000 soldiers guarding Fort Knox guaranteed that.
For over 50 years, while domestically it was a crime to hold gold, there is little doubt that well-heeled Americans - and America's enemies, operating offshore, were able to procure gold at the bargain basement price of $35/ounce.
Not surprising that Fort Knox's 22-ton door is locked to an audit. For almost 40 years, no visitors have been allowed in the grounds of the Gold Depository. Considered one of the eight most secure places in the world, we're not getting in for a sneak peek anytime soon. In the last recorded "audit", in the early 50's, a group of Congressmen and Senators were taken on a quick tour of Fort Knox and allowed to peek into a few vaults. They reported seeing "orange-hued gold bars". Lucy, you got more 'splainin' to do.
In his article "The Great American Disaster: How Much Gold Remains In Fort Knox?", Chris Weber outlines details about the one "audit" of Fort Knox, as follows:
"The only audit that has ever been done of the gold inside Ft Knox was done days after Dwight Eisenhower became President in January of 1953. After 20 years of Democratic presidents, the American public wanted to be sure that the gold confiscated from them was still there. Thus, the new President ordered an audit within hours after taking office.
The central problem was that it wasn't much of an audit. To sum it up:
  1. Representatives of the audited group were allowed to make the rules governing the audit. No outside private experts were allowed.
  2. Those government bureaucrats involved were inexperienced in their tasks, by their own admission.
  3. The entire audit of the largest gold hoard ever concentrated in history lasted only seven days.
  4. Only a fraction of the gold was actually tested. Later, the officials put this fraction at just 5%.
  5. Based on that fraction, the official committee reported that, in their opinion, all the holdings would have matched their records if they'd all been tested.
  6. If the audit was accurate, the fact remains that almost 80% of it went overseas in the coming years. If the audit was not accurate, the amount of gold lost could have been even more."

On September 23, 1974, Mary Brooks, the Director of the United States Mint, led a tour of members of Congress and the news media through the USBD. There was no audit or inventory
of the gold and no other public "inspection" has been allowed since then.
Why won't the Mint comment about how much gold is there? Perhaps the acid test is not so much as what has happened to the gold in Fort Knox; but rather is there gold in Fort Knox? And if so, how much.....or how little?
In a feat worthy of The Great Houdini himself, the Fort Knox gold may be the World's Greatest Vanishing Act ever.
In Conclusion:
There are other ways to take advantage of gold's next bull market that can add leverage and protection against a gold confiscation. One of the best ways is through the ownership of gold producing companies. The key here is in buying the right companies as the right time within the market cycle.
******** 

Courtesy of www.TheGoldAndOilGuy.com

Friday, January 30, 2015

Gold Analysis as At January 30, 2015

This has been an interesting week for any Gold trading strategy as the metal has been unable to reach higher ground and instead has drifted lower.

Gold may be moving inverse the the US Dollar which has been galloping higher recently.

As I have mentioned in previous posts, there is considerable resistance to a move higher for gold as illustrated on these charts,

This first chart shows a bearish Fibonacci Pattern on a weekly chart and it appears that the pattern is valid and may indicate a further decline in price






Next we have a couple Ichimoku Kinko Hiyo charts and as you can see, on both charts, price is having difficulty penetrating the resistance of the cloud.







This next chart demonstrates the resistance on the Harmonics chart.




Those charts should well illustrate the resistance that Gold is facing on a technical basis.

Fundamentally there is a lot of developments in politics and economic matters that have yet to establish a clear path for Gold.

There are some Elliot Wave chartists that are quite confident of a great upward move for Gold, alas, the timing of that move has not yet appeared.

Tuesday, January 20, 2015

Gold Price Jumps Higher in Overnight Trading

The metal has jumped to almost $1,294 before backing off.

This move appears to be based on better economic expectations by traders.


Sunday, January 18, 2015

The SNB Catalyst For GLD

This article has some interesting ideas as to how Gold may move in coming days. I have extracted this from SeekingAlpha.com .

Here is the Original Article URL


Summary

  • SNB surprised the market by its sudden decision to abandon the EURCHF floor and reduce its deposit rate further to -0.75%.
  • Existing push factor of GLD such as current deflation, strong USD and holding cost is being pushed aside by negative interest rates and market concern about market stability.
  • Global negative interest interest rates is attracting bids for GLD especially when conservative investors cannot hold their funds in safe deposit and bonds without attracting a penalty.
  • Deeper market concerns over the ability to grow the economies of Europe and Japan without destabilizing the economic system.
  • SNB Surprise served as a catalyst to bring these concerns to the front of investors mind and is responsible for the gap up of GLD.
The Swiss National Bank (SNB) surprised the market on 15 January 2015 by announcing the abandonment of the floor of the Swiss Franc (CHF) 1.20 to the euro. In addition, the SNB announced that it has reduced its sight deposit rate from -0.25% to -0.75%, effective 22 January 2015.
The rationale that the SNB imposed this floor in 2012 is to prevent importing deflation from Europe but it has done it at the cost of a ballooning balance sheet to GDP from at least 60% to 85%. The SNB has finally accepted that deflation of -0.1% for this year and have made it clear that even if they do prevent deflation from Europe, they can't prevent deflation from the U.S. through a strengthening USD.
In this article, we will look at how the conflicting pull and push factors which affect the attractiveness of gold. In my previous articles, I have been bearish on gold as I consider opportunity cost of holding gold when the U.S. economy is rising and the fact that the strengthening USD will weaken gold. In addition, I have considered the fact that there is very little inflation worldwide given the low energy price. Hence gold would lose its allure as an inflation hedge, especially when it is increasingly clear that major economies like Japan and Europe is nearer to deflation than inflation.

Negative Interest Rates

Even as I consider these factors to be relevant, it would appear that other factors are now raising to the forefront to challenge these push factors of gold. The most prominent factor would have to be the negative interest rates. We are seeing a number of major countries imposing negative interest rates. The latest and deepest negative interest rates come from the SNB at -0.75% of deposit rates. The European Central Bank (ECB) has set its deposit rate to -0.1% and there are Japanese Treasury Bills that are having negative interest rates. This is because investors prefer these treasury bills even when key interest rates are zero and they are willing to pay a premium for it.
Negative interest rate means that investors have to pay the banks to keep their money and this has offset the cost of gold purchase. For investors who are conservative, they are not likely to invest into equities which they perceive to be of high risk. Given that they can't deposit their money safely in banks or bonds without attracting a penalty, they are more likely to be attracted to gold as a store of value.

Market Concern about Economic Stability

Then there is the risk of unintended consequences. With the ECB and Bank of Japan (BoJ) determined to ease monetary conditions further, they are increasing the risk that these actions will cause a bubble in the future. The issue is that inflation might surface in other form with all these QE efforts.
These QE measures are described as emergency measures by the Fed and this is why they are being rolled back by the Fed right now. The question remains unanswered in the market as to whether a prolonged dosage of QE will actually help or harm the economy.
We have to remember that the Fed used QE to purchase banks asset to restore confidence in the system and this is done with a bank stress test. The banks subsequently healed as investor confidence were restored and were able to lend as they have a clean balance sheet. They also have incentive to lend as the economy recovers amid a low interest rates environment. As the economy recovers, people consumes and we naturally see inflation which stands at 1.3% in December 2014. This will have been higher if not for low energy prices.
There might be a question as to whether the banks started to lend first or the economy recovered and people consumed first before the banks were willing to lend. My opinion is that QE and the bank stress test cause the recovery in confidence first and the bank lending and consumption happened in tandem.
The big question for Europe and Japan is that despite all these efforts in QE, we do not see a recovery in their economy. Europe is still having sub 1% growth and Japan has slipped into recession again with the second and third quarter of contraction in 2014. This might point to a bigger problem to their economies than what QE can solve.

SNB Catalyst on GLD

The SNB move to abandon the peg and lessen the deposit rate serves as a catalyst which brought the issue of negative interest rates to the forefront of investor's mind. This is a signal to investors that there might be a paradigm shift in how major economies will operate from now on. The fact that the SNB has to surprise the market instead of following the usual central bank communications strategy which has been the norm for the past 10 years also hints at future uncertainty.
In this environment, we are likely to see more demand from gold. We can see this from the SPDR Gold Trust ETF (NYSEARCA:GLD) chart below. GLD tracks the performance of gold bullion after expenses and it is listed on the New York Stock Exchange. It is liquid with $27.54 billion of market capitalization and 17 million of last known daily transactions.
(click to enlarge)
Despite this liquidity, we see that GLD gap up on the SNB surprise. This is a clear sign that there are issues in the Europe and Japan which the market is concerned about. The market's concern seems to be that despite the QEs, Japan and Europe would not be able to solve their issues. The side effect of these QE besides the massive purchase of securities, is to resort to negative interest rates which is forcing conservative investors out of safe deposit.
These issues have always come along with QE and the market assumption has been that the recovery prospect will outweigh the risk involved as mentioned above. However the SNB surprise suggest otherwise and this is serving as a catalyst for these issues to surface and for GLD to gap up.

Of course, the market has been wrong before and GLD was up from 2009 when the Fed started its first QE to 2011 when it was clear that the U.S. economy has recovered before GLD became bearish again. There is a possibility that this will be the start of a new bullish trend for the medium term if Europe and Japan is not able to get their act together. It would appear that even the strong USD cannot hold down GLD and this shows the depth of the market concerns.

Gold Trading Strategy as at January 18, 2015



Gold appears to be at least moderating in its advance today. So far we are seeing it backing off from resistance, probably waiting for whatever economic news may appear as this week goes on.

Of interest is stability in Greece, the adventures of Mr. Draghi and politics in Iceland as it withdraws application to join the EU.




Good Trading in the week ahead!

Saturday, January 17, 2015

Gold Analysis as at January 17, 2015

Your Gold Trading Strategy will have been altered significantly this week as the metal has made a strong move north.

I have a few charts with some notations for you to have a look at, below those is some current commentary which you may find of interest.


This first chart shows Harmonics and may indicate there will be a reversal.




Here is the pivots on the weekly chart, price has stalled there, at least termporarily.





The Ichimoku Cloud appears to be offering significant resistance on the weekly chart.






On this next chart, which is weekly we can see a bearish Fibonacci pattern




And on this weekly chart we have a bullish Fibonacci Pattern




Now we have the Point & Figure Chart from Stockcharts.com. They have revised the target from $1,050 to $1,510 so this weeks move had had an effect on the P&F calculations.







Swiss shock no 'game changer' for gold? - CNBC

Fri, 16 Jan 2015 12:39:36 GMT
CNBCSwiss shock no 'game changer' for gold?CNBCBut on the negative side, she said that the momentum for the Swiss franc—which surged 30 percent against the dollar on the SNB's move–created competition between the Swiss franc and gold as a 'safe haven ...

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Gold Climbs to Four-Month High as Open Interest Surges - Bloomberg

 Fri, 16 Jan 2015 06:16:31 GMT
Wall Street Journal (blog)Gold Climbs to Four-Month High as Open Interest SurgesBloomberg“There's a lot more uncertainty in Europe and the U.S., and that's piqued a lot of investors' interest in gold,” Fain Shaffer, the president at Infinity Trading ...

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2015 Stock Picks: Our Gold Plays Surge Ahead This Week - Money Morning

Sat, 17 Jan 2015 04:16:44 GMT
2015 Stock Picks: Our Gold Plays Surge Ahead This WeekMoney Morning'The past couple of years have seen considerable pressure on most gold equities, thanks in large part to a declining, then consolidating, gold price,' Money Morning Resource Specialis ...

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PRECIOUS-Risk aversion puts gold on track for biggest weekly gain since 2013 - Reuters

Fri, 16 Jan 2015 21:51:10 GMT
PRECIOUS-Risk aversion puts gold on track for biggest weekly gain since 2013ReutersNEW YORK/LONDON, Jan 16 (Reuters) - Gold rose to a four-month high on Friday and was set to increase 4.5 percent for the week, its biggest weekly gain since August 201 ...

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Friday, January 16, 2015

News Update on Gold as at 6:00 am EST January 16, 2015


Recent Volatility has sparked greater interest in the metal and the miners. It is not clear as to whether Gold will maintain the upward move, there are many economic factors affecting price and it will be a while until the volatility subsides


Why 2015 will be the year for gold: Top analyst - CNBC

Thu, 15 Jan 2015 21:42:22 GMT
Why 2015 will be the year for gold: Top analystCNBCIn an interview with CNBC.com's Futures Now, Sterne Agee's precious metals and mining analyst Michael Dudas said that gold should continue to benefit from central banks' efforts to devalue their curr ...

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PRECIOUS-Gold jumps 3 percent to 4-month high after SNB move - Reuters

Thu, 15 Jan 2015 21:26:25 GMT
CNBCPRECIOUS-Gold jumps 3 percent to 4-month high after SNB moveReuters(Updates prices, adds comment). By Marcy Nicholson and Clara Denina. NEW YORK/LONDON Jan 15 (Reuters) - Gold rose as much as 3 percent to a four-month high on Thursday after Switz ...

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Global Gold Demand Seen Rising 15% by HSBC on Asia-to-ETP Buying - Bloomberg

Thu, 15 Jan 2015 07:07:54 GMT
Metal.com NewsGlobal Gold Demand Seen Rising 15% by HSBC on Asia-to-ETP BuyingBloombergGold last year posted the first back-to-back annual drop since 2000 as assets in bullion-backed ETPs contracted, the dollar advanced and U.S. equities surged. An e ...

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Gold Ichimoku Trading Strategy as at January 15, 2015

Gold has experienced a nice upward move in the past few days, it is time to examine the trading strategy with a view to support and resistance.

The Ichimoku Cloud does a great job of demonstrating potential support and resistance. We will have a look at  some different time frames to see what may be in store for the metal.

The first chart is the monthly. You can see that price is approaching the resistance of the cloud and if you look back a few bars you can see that it has attempted to go through the cloud more than once and been rejected.





This is the weekly chart, once again price is approaching the cloud. At this point the cloud is not very thick and may not present much resistance.



The daily and 4 hour charts show that price is above the cloud which will be acting as support.







Some additional commentary on Gold


Jeff Gundlach Webcast, January 13 - Business Insider

http://www.businessinsider.com/moneygame Tue, 13 Jan 2015 13:07:45 -0800
The best commodity in 2014 was gold. Screen Shot ... Gold gained ground in basically every currency except the US dollar in 2014. ... "Gold is on a stealthy rally and I suspect gold is going to be headed higher not lower." ...

Read more ...




Sat, 10 Jan 2015 00:57:00 -0800
Contrarian, gold & precious metals. Profile| Send Message|. x. Author Following Options: Follow this author. See their articles on your Seeking Alpha homepage and in your feed. Real-time alerts on this author. Get their new ...



Wednesday, January 14, 2015

Gold Drops After Meeting the Ichimoku Cloud


The resistance of the Ichimoku Cloud has halted, at least temporarily, the rise in Gold







Sunday, November 23, 2014

My Gold Trading Strategy as November 23, 2014

The new week is about to test our trading strategies. Governments will be making their moves, traders will be in and out of the market and who knows what is coming for Gold.

There are a lot of opinions, Gold is going to $5,000 and Gold is dropping to $800, I will post some opinions further down in this post.

First I will post a couple charts, Ichimoku Kinko Hiyo charts, reason being is, they have something to tell us about support and resistance.

Here is the daily chart of XAUUSD


It is easy to see that the is going to be resistance at the Ichimoku Cloud. It appears that the Cloud becomes narrower as days pass, maybe resistance to a price rise will lessen.


The weekly chart is next.






Once again we see the Ichimoku Cloud creating resistance although the Cloud is much thinner than on the daily chart.


Finally, the Monthly chart.






It took a couple months for price to break down through the Cloud and then finally support was broken. The November bar has a long wick, showing that the bulls are making progress....


As mentioned earlier in the post, I found some recent articles and opinions about Gold as follows:



Russia's Central Bank Buying Gold Isn't Quite What You Think It Is - Forbes

Sat, 22 Nov 2014 11:42:03 GMT
The Russian central bank has been buying more gold this year. This could be taken as some form of support for the price of gold, could be taken as simply the bank deciding that t ...

Read more ...



Swiss Central Bank Chief Warns on Impact of Gold Vote - Wall Street Journal
Sun, 23 Nov 2014 13:31:49 GMT

ZURICH—The head of the Swiss National Bank reiterated concerns that a popular vote on requiring the central bank to keep a fifth of its assets in gold would hi ...

Read more ...



Gold No Longer Slumbers - Barron's
 Sat, 22 Nov 2014 03:15:13 GMT

But after pummeling gold steadily lower from its peak around $1,900 an ounce in September 2011, he is showing signs that he could be done dumping on the metal, which hit a low of $1,131.85 an ounce this month. Gold-mini ...

Read more ...



Many are seeing the moves by China as bullish for the price of Gold.

Chinese rate cut pushes gold, silver to highs - Resource Investor
Sun, 23 Nov 2014 11:44:43 GMT

The rate reduction was the first since July 2012 as the Asian nation heads toward its slowest full-year expansion in almost a quarter century. Russia added to gold reserve ...

Read more ...



This infographic is really well done!

InfoGraphic on the Swiss Gold Referendum to take place on November 30th - CoinWeek

Sun, 23 Nov 2014 14:37:40 GMT

On November 30, Swiss nationals head to the polls on three separate issues: abolishing a flat tax on resident, non-working foreigners, an immigration cap, and a proposal o ...

Read more ...



Gold / Silver / Copper futures - weekly outlook: November 24 - 28 - Investing.com
Sun, 23 Nov 2014 13:38:11 GMT

Despite Friday's upbeat performance, gold prices are likely to remain vulnerable in the near-term amid indications a strengthening U.S. economic recovery will force the Fed ...


Read more ...


Good Trading in the week ahead...!









Friday, November 21, 2014

My Gold Trading Strategy as at November 21, 2014

Will the Butterfly make your trading strategy bullish?




This is a weekly chart and it seems that the butterfly pattern is having an effect as the price of Gold has been rising for three weeks.

Let's see what happened this week with the weekly pivot.




Right from the start of the week there was a bullish sentiment and the resistance was tested early before Gold dropped to bounce off the weekly pivot. Friday the resistance was tested again and ultimately the close was less than the resistance.

Now we can have a look at the Ichimoku chart and we can see that the price will meet the resistance of the Ichimoku Cloud with a further gain of ten dollars. You can see that recently price has approached the Cloud twice and been refused both times. Definitely there will be resistance to an upward move for a while, at least according to the Ichimoku Cloud.





Next we can have a look at the Point & Figure chart for Gold.



I have marked the resistance at $1,220.00 and you will notice that the bearish target is still set at $1,050.00. 

Next week will bring more excitement as Gold looks again for direction, hopefully our trading strategy will be profitable.


Good Trading...!