10 Feb 2013

With the Dow crossing 14,000 and investors seemingly infatuated with the stock market's latest rally in the last few weeks, gold closed sideways last week and finished at 1,668.25. But before anyone falls too hard for stocks, some perspective may be in order. First, red flags and "sucker alerts" abound as reports surface that insiders have been nine times more…

31 Jan 2013

Gold defied the experts last week, closing up on Friday at $1669. Following suit – that is, defying the experts – silver closed down at $31.43. With better than expected job reports in the U.S. and Britain, despite both economies being under duress, financial analysts were left scratching their heads. The culprit is quantitative easing, which is impacting not only…

26 Jan 2013

With gold prices pinging around like a thought in a schizophrenic's head, the real story this week is profit taking from gold and silver backed paper holders who are scrambling to get out of the way of the Eurozone meltdown. Gold closed down on Friday at $1,660 with silver making a lateral move closing down at $31.50. After a downgrade…

18 Jan 2013

The historic Kumbh Mela ended in India this week; it is said that bathing near the event clears away all of ones sins. Maybe a wise man took a bath for gold and silver, with prices resurrecting and closing at $1675 and $31.50, respectively. Indians have come under increasing pressure from their own financial minister to curb their consumption of…

11 Jan 2013

Sales of physical gold are expected to pick up in the coming weeks as China, the world's second largest consumer of gold, prepares for celebrations in February when it will ring in its new year and mark the arrival of the Black Water Snake during its Spring Festival. Gold's movement last week certainly looked like a serpent swimming in a pond,…

09 Jan 2013

December 2012 was a touch-and-go month for gold, as it ended the month about $50 lower than it started. Some may be led to think that the value of the metal had tanked, at least judging from recent sensationalist headlines calling it a risk asset rather than the traditional hedge against inflation that it has served for centuries. A number…

05 Jan 2013

Ranging across the marketplace, gold spent the week defying common wisdom and forcing the hands of crystal ball gazers all over the world. On Friday gold closed at $1,648, with silver walking alongside, closing down 2.8% at $29.32. These swings proved too much for paper gold, creating an illusion that the yellow metal was collapsing. Technical sell-offs caused many to…

28 Dec 2012

Despite a fourth week beneath $1700, physical gold continues to inspire confidence, remaining a safe haven during this rather frantic close of the year. Gold closed up Friday at $1657.50 while silver closed up at $30.15. With the country now coming ever so close to going over the fiscal cliff, many analysts believe that the U.S. will end up doing…

21 Dec 2012

Gold suffered a setback last week, closing Friday at $1651.50, with silver faring no better, closing at $29.89. What does this pullback mean for the long term? It's probably too early to say, as most of the experts are citing domestic troubles in the US as reasons for these latest movements. Remember, events such as the US jobs report and…

15 Dec 2012

It wasn't enough that our mysterious traders struck again last Wednesday, throwing speculators of paper gold into a frenzy, thus driving down precious metals prices for the close of the week, gold at $1696.25 and silver at 32.52. Nor was it sufficient that fiscal cliff conversations have now gone completely behind closed doors while the light is finally shining on…