Category Archives: Gold

Is This Why Gold and Bonds Sold Off?

Truly a mug’s game to try and retrofit fundamentals to short-term market moves, but ain’t gonna stop us! We’ve noted the comovement of the U.S. 10-year T-Note with gold over the past few months, driven, we believe, mainly by geopolitical … Continue reading

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Gold Still Tracking Bonds

We posted last week the correlation of the bond and gold.  Some argue gold has been rallying as a hedge against inflation or inversely with the dollar.   Don’t think so and not yet on the inflation hedge. Gold is moody … Continue reading

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What’s Behind the Gold Rally?

Short covering in the bond market. Don’t believe it?  Check out the chart below. Gold is up 7.7 percent since the December 15 low the same day the 10-year Treasury yield peaked at 2.60 percent. Why are Treasuries rallying?   … Continue reading

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Watch Those Gold Miners (GDX)

The gold miners index (GDX) gapped down another 4 1/2 percent today even after yesterday’s 5 percent down day.  Gold, the Feb futures contract, closed down about another $15 lower from the 5 pm electronic futures market close in New … Continue reading

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Is Gold Finished?

Big drop in gold today after the FOMC announcement.   Let’s go to the charts. The yellow metal is approaching a 5-year low at around $1,050 (actually $1,046.25), which it hit right around this time last year.   Tough to see a … Continue reading

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Gold becomes a tough sell – FT

James Mackintosh on the 5% plunge in the gold price Gold has become a tough sell. Investment editor James Mackintosh says perhaps those buying gold should be hoping China recovers its appetite for heavy industry and starts sucking in commodities … Continue reading

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Where to Gold?

Gold has started the year off strong and held up surprisingly well given some tough talk from Fed officials today.   After a textbook bounce off support at 114.50, GLD has broken through its short-term downtrend and is now in no … Continue reading

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Gold Breaking Down

Gold is down about $16 today and is below some key support.   The set-up is bearish and a little follow through here could lead to another 5-10 percent of downside. Gold should have rocked on QE3 and hasn’t.   In fact, … Continue reading

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Gold’s Bearish Technical Setup

We noted last month gold’s head and shoulders formation, which, at 125o-ish was met with a massive short covering schnapper.  Last week’s strong GDP and employment data seems to have changed the sentiment and moving up tapering and higher rates. … Continue reading

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Still Watching Gold

The gold ETF (GLD) did penetrate the neckline of its head and shoulders formation but bounced back the next day.  Another close below the 125.15 neckline (1291.70 cash gold) with some follow through does set up a measured move  down … Continue reading

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