Gold Has Good Long Term Support From Ichimoku Technicals
Today’s AM fix was USD 1,573.00, EUR 1,300.54, and GBP 1,015.23 per ounce.
Yesterday’s AM fix was USD 1,571.50, EUR 1,298.12 and GBP 1,011.91 per ounce.
Gold fell $6.70 or 0.42% in New York yesterday and closed at $1,577.20/oz. Gold traded sideways in a very tight range (1,572.20 – 1,578.27/oz) in Asia remains in this range after the open in Europe.
Cross Currency Table
Gold fundamentals [...]
From Stockcharts Blogs:
Apple suffered its biggest six-week decline since 2008, but signs of firmness emerged as the stock formed a spinning top at the end of last week.
Spinning tops represent indecision that can sometimes foreshadow a reversal. Also note that this candlestick formed with high volume.
A move above…
Read full article (with chart)…
With extreme volatility in gold and silver, today King World News interviewed one of the legends in the gold world, Pierre Lassonde. When asked about the action in gold Lassonde replied, “Yeah, we’ve had a really good summer for gold, which was to some extent been unexpected. I was thinking that we would see more marking of time for a while on the gold price, but no, it’s [...]
ECB apparently just announced they’re fixing on buying sovereign bonds, probably Spain, Italy:
Mighty big looking candlestick on Au in pre-market trading, NA market futures down 2%+. Japan opens in less than an hour. Wife is out to the store, getting some popcorn.
by Boca Joe
Making the scam work!
After watching the stock casino action for the last five days of August, 2010, an idea occurred to me that I would like to share. When we look specifically at the Dow Jones Industrial Average, I think we would all agree that something very strange is going on. Well, maybe â€˜strangeâ€™ is not the right word. I think we all know exactly what is going [...]
I think it’s all about the euro when it comes to gold. There has been a pretty strong inverse correlation recently. Prior to the onset of the European crisis the relationship was mostly positive and gold traded inversely to the dollar. Now, it appears to be heavily influenced by holders of euros moving in and out of gold. Gold is the safe haven play for this group and as the [...]
As IÃ¢â‚¬â„¢ve been saying all along, nothing is solved until the DEBT SATURATION is resolved. Depressions move in 3 waves, A down, B up, C down. The psychology of each wave is different Ã¢â‚¬â€œ wave A equals Ã¢â‚¬Å“oh no!Ã¢â‚¬Â Wave B equals Ã¢â‚¬Å“weÃ¢â‚¬â„¢re saved.Ã¢â‚¬Â And wave C equals real change is forced to occur Ã¢â‚¬â€œ no fooling around this time. You [...]