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Gold ETF Holdings Fall Slightly Over Last Week 2010 17 ديسمبر 2010
There are potential market-moving fundamentals for the precious metals on the back burner at present, and which could flare up at any time. The North Korea-South Korea stare-down continues, with North Korea now threatening to attack if South Korea conducts military exercises. Traders are awaiting fresh news from a European Union economic summit in Brussels. There has been talk of the EU creating Euro bonds, which had been somewhat supportive for the Euro currency. Any EU pronouncements on its debt problems will be closely scrutinized by the market place. Both the Korean and EU situations and any new developments are potentially gold-market bullish.
The U.S. dollar index is trading weaker Friday morning. The dollar index bulls did gain some fresh upside technical momentum on Wednesday, but the index is now giving back some of those price gains as the week winds down. U.S. Treasury yields are at six-month highs, which is supporting the greenback and pulling some investment demand away from the precious metals.
U.S. economic data due for release Friday includes the leading economic indicators index.
The London A.M. gold fixing was $1,374.75 versus the previous P.M. fixing of $1,363.00.
Technically, February Comex gold futures bulls still have the overall near-term and longer-term technical advantage, but they have faded as the week has progressed. A bearish weekly low close on Friday would provide the bears with fresh near-term technical momentum and would also be an early clue that a near-term market top is in place in gold. A 4.5-month-old uptrend is still in place on the daily bar chart, but the bulls need to show power soon to keep the uptrend in place.
Bulls’ next near-term upside technical objective is to produce a close above solid technical resistance at this week’s high of $1,408.90. Bears’ next near-term downside price objective is closing prices below solid technical support at $1,350.00. First resistance is seen at the overnight high of $1,378.50 and then at Thursday’s high of $1,387.30. Support is seen at this week’s low of $1,361.60 and then at $1,350.00.
March silver futures last traded down 1.2 cents at $28.77 an ounce Friday. The silver bulls still have the overall near-term technical advantage, but are fading just a bit. Bulls do not want to see a bearish weekly low close on Friday.
Silver prices are still in a 4.5-month-old uptrend on the daily bar chart. The next downside price objective for the bears is closing prices below solid technical support at $28.00. Bulls’ next upside price objective is producing a close above solid technical resistance at this week’s high of $29.985 an ounce. First resistance is seen at $29.00 and then at the overnight high of $29.37. Next support is seen at this week’s low of $28.35 and then at $28.00.
Gold ETF Holdings Fall Slightly Over Last Week 2010
There are potential market-moving fundamentals for the precious metals on the back burner at present, and which could flare up at any time. The North Korea-South Korea stare-down continues, with North Korea now threatening to attack if South Korea conducts military exercises. Traders are awaiting fresh news from a European Union economic summit in Brussels. There has been talk of the EU creating Euro bonds, which had been somewhat supportive for the Euro currency. Any EU pronouncements on its debt problems will be closely scrutinized by the market place. Both the Korean and EU situations and any new developments are potentially gold-market bullish.
The U.S. dollar index is trading weaker Friday morning. The dollar index bulls did gain some fresh upside technical momentum on Wednesday, but the index is now giving back some of those price gains as the week winds down. U.S. Treasury yields are at six-month highs, which is supporting the greenback and pulling some investment demand away from the precious metals.
U.S. economic data due for release Friday includes the leading economic indicators index.
The London A.M. gold fixing was $1,374.75 versus the previous P.M. fixing of $1,363.00.
Technically, February Comex gold futures bulls still have the overall near-term and longer-term technical advantage, but they have faded as the week has progressed. A bearish weekly low close on Friday would provide the bears with fresh near-term technical momentum and would also be an early clue that a near-term market top is in place in gold. A 4.5-month-old uptrend is still in place on the daily bar chart, but the bulls need to show power soon to keep the uptrend in place.
Bulls’ next near-term upside technical objective is to produce a close above solid technical resistance at this week’s high of $1,408.90. Bears’ next near-term downside price objective is closing prices below solid technical support at $1,350.00. First resistance is seen at the overnight high of $1,378.50 and then at Thursday’s high of $1,387.30. Support is seen at this week’s low of $1,361.60 and then at $1,350.00.
March silver futures last traded down 1.2 cents at $28.77 an ounce Friday. The silver bulls still have the overall near-term technical advantage, but are fading just a bit. Bulls do not want to see a bearish weekly low close on Friday.
Silver prices are still in a 4.5-month-old uptrend on the daily bar chart. The next downside price objective for the bears is closing prices below solid technical support at $28.00. Bulls’ next upside price objective is producing a close above solid technical resistance at this week’s high of $29.985 an ounce. First resistance is seen at $29.00 and then at the overnight high of $29.37. Next support is seen at this week’s low of $28.35 and then at $28.00.
Gold ETF Holdings Fall Slightly Over Last Week 2010
There are potential market-moving fundamentals for the precious metals on the back burner at present, and which could flare up at any time. The North Korea-South Korea stare-down continues, with North Korea now threatening to attack if South Korea conducts military exercises. Traders are awaiting fresh news from a European Union economic summit in Brussels. There has been talk of the EU creating Euro bonds, which had been somewhat supportive for the Euro currency. Any EU pronouncements on its debt problems will be closely scrutinized by the market place. Both the Korean and EU situations and any new developments are potentially gold-market bullish.
The U.S. dollar index is trading weaker Friday morning. The dollar index bulls did gain some fresh upside technical momentum on Wednesday, but the index is now giving back some of those price gains as the week winds down. U.S. Treasury yields are at six-month highs, which is supporting the greenback and pulling some investment demand away from the precious metals.
U.S. economic data due for release Friday includes the leading economic indicators index.
The London A.M. gold fixing was $1,374.75 versus the previous P.M. fixing of $1,363.00.
Technically, February Comex gold futures bulls still have the overall near-term and longer-term technical advantage, but they have faded as the week has progressed. A bearish weekly low close on Friday would provide the bears with fresh near-term technical momentum and would also be an early clue that a near-term market top is in place in gold. A 4.5-month-old uptrend is still in place on the daily bar chart, but the bulls need to show power soon to keep the uptrend in place.
Bulls’ next near-term upside technical objective is to produce a close above solid technical resistance at this week’s high of $1,408.90. Bears’ next near-term downside price objective is closing prices below solid technical support at $1,350.00. First resistance is seen at the overnight high of $1,378.50 and then at Thursday’s high of $1,387.30. Support is seen at this week’s low of $1,361.60 and then at $1,350.00.
March silver futures last traded down 1.2 cents at $28.77 an ounce Friday. The silver bulls still have the overall near-term technical advantage, but are fading just a bit. Bulls do not want to see a bearish weekly low close on Friday.
Silver prices are still in a 4.5-month-old uptrend on the daily bar chart. The next downside price objective for the bears is closing prices below solid technical support at $28.00. Bulls’ next upside price objective is producing a close above solid technical resistance at this week’s high of $29.985 an ounce. First resistance is seen at $29.00 and then at the overnight high of $29.37. Next support is seen at this week’s low of $28.35 and then at $28.00.
If Today Marked the Bottom of the Gold Price Decline, Then Tomorrow it Ought Not Drop Through $1,365/
Gold Price Close Today : 1370.40
Change : (15.10) or -1.1%
Silver Price Close Today : 28.757
Change : (0.468) cents or -1.6%
Gold Silver Ratio Today : 47.65
Change : 0.246 or 0.5%
Silver Gold Ratio Today : 0.02098
Change : -0.000109 or -0.5%
Platinum Price Close Today : 1698.70
Change : 1.60 or 0.1%
Palladium Price Close Today : 739.75
Change : -7.45 or -1.0%
S&P 500 : 1,242.87
Change : 7.64 or 0.6%
Dow In GOLD$ : $173.46
Change : $ 2.53 or 1.5%
Dow in GOLD oz : 8.391
Change : 0.122 or 1.5%
Dow in SILVER oz : 399.88
Change : 1.52 or 0.4%
Dow Industrial : 11,499.25
Change : 41.78 or 0.4%
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US Dollar Index : 80.04
Change : -0.218 or -0.3%
The SILVER PRICE nearly fulfilled my expectations today, falling as low as 2829c but not quite touching the 20 DMA (2816c) and not even approaching the 2800c I thought we might see.
Midday silver made a V-bottom, then climbed off that bottom to 2880 -2890 now. Comex closed down 46.8c at 2875.7.
The trading from Tuesday thru today appears on a five day chart to have finished an orderly correction. This will be confirmed if silver remains above 2870c tomorrow, and climbs. Resistance above lurks at 2920c, 2940c, and of course 3000c. Close below 2870c gainsays optimism.
Ut argentum, ut aurum. As silver, so gold today. Five day GOLD PRICE chart looks about the same, but the bounce off the V-bottom at 1361.30 wasn’t quite as vigorous. On Comex gold lost $15.10 to end at $1,370.40. Yesterday I was expecting gold to hit the 50 DMA ($1,368.50) and it pierced that and rebounded.
If today really marked the bottom of gold’s decline, then tomorrow it ought not drop through $1,365, and must not close down there. Much better would be a close above $1,380 resistance.
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I don’t want y’all to let this US DOLLAR INDEX out of your mind. Its performance will largely determine other markets’ performances in the next 6 – 12 months. It has pretty well exhausted itself to the floor while other markets are near exhaustion at the ceiling. Get ready for them to swap directions for a while.
Correcting dollar index today was yet strong enough on the re-bound wave to make a high slightly above the Wednesday high. Only a garlicky market does that.
Ceiling over the Dollar Index is 80.40. It really must not drop much below 80, a few basis points only, or it would negate my outlook. Today it lost 21.8 basis points to end at 80.04.
Time out for a definitional footnote. Some nervous readers keep misconstruing what I mean by "final," "peak," and suchlike words. "Final" means "final" except when it means "final for the nonce." When I believe that we are reaching the final final peak, I will not keep it a secret, I promise. I’ll scream like a hog with a hangnail. However, that final peak lies years in the future, three at least and probably more. So relax, open another bag of chips, and keep sitting on you silver and gold.
STOCKS today rose, proving that the world has not yet run out of easy marks. Dow added 41.78 points to 11,499.25 and the S&P500 rose 7.64 to 1,242.87. I still await a large and grisly break in stocks, but really don’t have a dog in that fight because I wouldn’t buy stocks if they were giving away toasters with them. As the aposematic poison dart frog is to herptiles, so are stocks to investments. Not cuddly.
Speaking of earthquakes, one occurred in my life on 16 December 1967: I married my wife Susan. Trees were knocked down, riverbanks collapsed, church bells rang, my life has never been the same, and gets better all the time. In case you are mathematically inclined, we got married when I was 7 and she was 10.
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Argentum et aurum comparenda sunt — — Gold and silver must be bought.
– Franklin Sanders, The Moneychanger
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© 2010, The Moneychanger. May not be republished in any form, including electronically, without our express permission.
To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold’s primary trend is up, targeting at least $3,130.00; silver’s primary is up targeting 16:1 gold/silver ratio or $195.66; stocks’ primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down. Whenever I write "Stay out of stocks" readers inevitably ask, "Do you mean precious metals mining stocks, too?" No, I don’t.
https://sites.google.com/site/goldelviroxfashion/gold/gold-price-won-t-dip-lower-than-1-365-or-1-350-buy-anywhere-in-there-15-12-2011/if-today-marked-the-bottom-of-the-gold-price-decline-then-tomorrow-it-ought-not-drop-through-1-365-2011
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هيئة الملكيه العقاريه والتوثيق هيئه قضائيه مستقله 