Gold & Precious Metals Archives - Page 33 of 33

April 23, 2013

Gold Bulls Hit

Grant Williams at Mauldin Economics quotes a friend in Hong Kong in his latest article on gold:

I’ve been taking this opportunity to stock up on some yellow metal. Went to Hang Seng bullion counter yesterday. The line was out the door. It took an hour wait to see a teller. When I asked if people were buying in the dip or selling in panic, she told me that they haven’t had one ounce of gold sold back to them all day. She told me they have sold more gold in 24 hrs than they normally do in 3 months.

While the price in futures market has fallen sharply, physical sales of gold have surged.

Read more at Things That Make You Go Hmmmm..

April 16, 2013

Pimco’s El-Erian: Markets Trading at ‘Very Artificial Levels’ | WSJ

Steven Russolillo at WSJ reports:

Actions by central bankers across the globe are propping up asset prices to artificial levels that are potentially putting investors at risk, Pimco CEO Mohamed El-Erian said in an interview with the Wall Street Journal.

“Investors should recognize that in virtually every single market segment, we are trading at very artificial levels,” El-Erian told WSJ’s Francesco Guerrera. “It’s true for bonds, it’s true for equities. It’s true across the board.”

This reinforces my long-term bullish outlook for gold. Central banks are unlikely to cease their easy money policies any time soon. What we are currently witnessing is the opposite, with the Bank of Japan going ‘nuclear’ in an attempt to kill persistent deflation that has dogged them for over two decades.

I strongly recommend that you watch the video interview at Pimco’s El-Erian: Markets Trading at ‘Very Artificial Levels’ – MoneyBeat – WSJ.

April 12, 2013

Gold breaks $1500/ounce

Gold fell rapidly on Friday, breaking below support at $1550 and closing below $1500 to signal a primary down-trend. I have revised the target for the down-swing to $1300*, which is roughly a 30% pull-back from its 2011 peak at $1900. The strong warning from 13-week Twiggs Momentum has been confirmed. Recovery above $1550 is most unlikely, but would warn of a bear trap.

Spot Gold

* Target calculation: 1550 – ( 1800 – 1550 ) = 1300

March 25, 2013

Use gold ETFs to tackle Fed, inflation fears | Outside the Box – MarketWatch

Tom Lydon at MarketWatch reports on large outflows from exchange-traded gold funds:

exchange-traded fund sponsors are beginning to sell their physical gold holdings. Gold ETFs experienced their largest monthly outflow on record in February. This is particularly disconcerting because gold ETF sponsors increased gold holdings during previous large sell-offs, such as in the last few months of 2011.