Most gold traders think that gold was lifted sharply yesterday because of fresh assumptions of quantitative easing from the US, while others think the bounce was simply a technical balancing move. Continue Reading…

June gold prices have managed to claw back above the prior session’s high in the overnight action and that is probably the result of a minor stimulus move in China and perhaps some of the gains this morning are the result of relief that the Spanish auctions went off with only marginally higher yields. Continue Reading…

The hard down action has continued with June gold seemingly failing at a series of chart points overnight. Ongoing fear of slowing off the turmoil in the Euro zone has remained the primary focus, but fears of slowing growth in China and deceleration in the US economy are also issues prompting many longs to exit gold and other physical commodity positions. Continue Reading…

After another range down thrust that temporarily sent June gold prices down to the lowest level since December 29th, the gold market managed to bounce away from the initial lows. Continue Reading…

With a hard range down extension this morning in gold prices, the fear of global slowing and the residual turmoil from Greece has apparently picked up where it left off at the end of last week. Continue Reading…

Hedge funds and other large investors cut bullish bets on rising commodity prices by the most since November as risk-off sentiment in the wake of the Greek election eased the appetite for higher risk assets. Continue Reading…

(1562,30) GOLD confirmed a weak weekly closing on Friday favouring a test this morning of the 1560 area, still on the way for a possible retest of the 1528,60 December low; a break below this last level will open the way for a deeper correction toward our m/t target with even a possible 1400 undershooting!! Continue Reading…

Gold is reaching a key pivot point that will dictate its medium to long-term technical outlook (and probably for macro markets as well). USD1,522 represents a crucial support for two Elliott Wave counts. Holding as support will be bullish evidence but breaking will shift the probabilities in favour of our preferred scenario: a fall towards USD1,200. Continue Reading…

The overnight news mostly favors the bear camp in gold as Chinese economic readings overnight rekindled talk of a hard landing. Furthermore, the markets were also presented with disappointing Indian economic readings and by a surprise $2 billion trading loss for JP Morgan. Continue Reading…

In addition to the obvious pressure from sagging global growth views, adverse currency market action and residual Euro zone debt fears, gold also appears to be under pressure from fears that Iran might be poised to sell oil for gold. Continue Reading…