Gold and silver slightly rose during last week. Their rally coincided with the recovery of other commodities such as oil and leading “risk related currencies” such as Euro and Aussie dollar against the USD.  Last week, the FOMC and ECB decided on any changes to their respective…

Gold and silver continued their upward trend from most of last week and rose again yesterday. The U.S pending home sales report came out yesterday and showed a moderate…

the question for last few weeks for U.K was ''U.K. will get into triple recession or not'' situation after todays gdp data was little changebut its not mean U.K.doing well,we have to wait for another good data to confirm it for example next week we'll see PMI's and many other in next few weeks,GDP rose from 0.2% to 0.6% YOY.it was great data for them.sterling broken important ressistance 38.2% retracement 1.5412/22 level and its heading to 50% retracement 1.5600/04 level. in my opinion is…

Gold and silver tumbled down again during the previous week. The shift in market sentiment may have been the main catalyst for the tumble in gold and silver mainly on the first day of the week. During last week it was reported that U.S housing…

The immediate and irresistible pressure on gold came from margin calls and forced sales of the commodity compounded by the 400 ton sell order on the Comex in Chicago on Friday.…

The prices of gold and silver plummeted again during last week. Their decline didn’t seem to coincide with the developments in the forex markets but did coincide with the sharp fall of other commodities and equity markets.   The minutes of the recent FOMC meeting may have rekindled the speculations that…

Gold and silver changed course again this time slightly rose after they have tumbled down a day earlier. Major “risk related currencies” such as the Euro and Canadian dollar also rallied against the USD.  Yesterday, it was reported that number of jobless claims declined by 42k to reach 388k. This news, however,…

The prices of gold and silver changed course and rallied yesterday along with other commodities such as oil and the major “risk related currencies” such as the Euro and Aussie dollar. The main event of the week – the publication of the minutes of the recent FOMC meeting – might shed some light on the future plans of the Fed. This publication could affect the direction of precious metals…

GOLD reversed sharply higher on Friday, which appears to be an impulsive reaction from the low, so we assume that gold has already bottomed and that price will recover more in the next few days. We expect minimum three waves up from 1539 and ideally towards 1600/1610 area; back to resistance zone of a fourth wave triangle.…

gold…

Gold and silver changed course and slightly declined on Wednesday. Their decline coincided with the drop of leading currencies against USD such as Euro and Aussie dollar. The U.S retail sales report,…

USD index recovered very sharply last week but don't let the strong rally trick you. The fact is that current sharp leg up could easily be wave C) of a flat correction in wave (B) which is unfolding already since September 2012. In fact, price is approaching to some very interesting resistance zone around 81.70-82.00 (61.8% Fibo) where bulls could slow down. As such, larger trend for this market remains down, but only impulsive weakness from that resistance and back to 80.30 figure can…

A quick review of the possible scenarios I have drafted last week (Wed. Feb. 21), which I have still played into the current one

Thus, three different scenarios to take into account:

REJECTION of current area + buyers take control –  Gold experiences an important retracement towards the $1580´s, $1590,s, even $1600 – I do not see it very likely, unless the above referenced levels are…

GOLD moved lower as expected, but because of a very sharp and aggressive sell-off we reworked the wave count. We are now tracking a three wave A)-B)-C) Elliott wave pattern from 1795 swing with wave C) underway, which appears incomplete as we need five waves down from 1696. As such, Elliott traders must be aware of more weakness in this week as current recovery could be a black wave 4 that will look for a tip around 1595-1605. Market remains in bearish mode as long as 1651 resistance is not…

Gold and silver continued to trade down during last week. The speculations around the future moves of the FOMC regarding its monetary policy including the QE3 program time-frame may have contributed to the rise in the bearish market sentiment towards precious metals. Several U.S reports came out last week: the…

One of the scneario´s laid out back on Friday did actually play out.

I am not having a clear picture here.

On one side, I am working with the hypothesis of more consolidation in the area contained between this week lows ($1554), and  Yesterday´s quick rejection  of $1585´s by sellers is a hint here. I am leaning into the possibility of tagging $1594-$1592, followed by $1600, if buyers regain…

Gold and silver plummeted last week, mainly by the end of the week. The new around the decision of big investors such as Soros and Bacon to reduce their holdings in gold related investments may have contributed to the sharp shift in the direction of precious metals. In Europe, the news regarding the…

The prices of silver and gold continued their downward trend from last week and sharply fell on the first day of the week. Their decline coincided with the depreciation of several leading currencies such as the yen and Aussie dollar against the USD. Will gold and silver change direction and rally this week? On today's agenda: Swiss Inflation report, Great Britain CPI, ECONFIN…

The prices of gold and silver moved in an unclear trend as gold slightly rose while silver declined. This unclear trend was also recorded in the forex markets as the Euro depreciated against the USD while other risk related currencies such as the Aussie dollar appreciated against the USD. Yesterday,…