Posted in Commodities, Gold, Weekly Comment on Nov 25th, 2009
The gold market has been making a powerful move to the upside lately. In fact over the last three weeks it has been up almost every day, with prices now turning nearly vertical with many gaps on the daily and weekly charts. Is this move sustainable? Are the fundamentals or the perception of future fundamentals [...]
Posted in Daily Comment, Gold on Nov 12th, 2009
This week gold surpassed $1100 an ounce in the futures market. This is certainly good news for gold bulls, and it’s difficult to argue with this powerful trend. However, there are some things that bother me about the latest impulse move up. Maybe it’s just my contrary nature. Before I get a bunch of angry [...]
Posted in Daily Comment, Gold, SPY, Stock Market, Weekly Comment on Nov 7th, 2009
I’ve received more than a few emails asking if I’ve turned my blog into a monthly report. Well, I’ve been in New York since my last post. I was going to bring the laptop, but decided I needed a complete rest from the markets. We have a mid-town timeshare just south of Columbus Circle. We are [...]
Posted in Currencies, Daily Comment, Gold, Stock Market on Oct 21st, 2009
The US Dollar has been on a persistent downtrend this year and is fast approaching the 2008 lows. I was going to post of chart of the Dollar Index. You can probably get a better picture by standing on your roof, taking all the currency out of your wallet, and tossing it into the air [...]
Posted in Daily Comment, Gold on Oct 6th, 2009
It’s no surprise that gold is edging higher with what is going on with the political background and the destruction of the US Dollar. I’m wondering why it took so long. The chart above is of the gold etf GLD. It has been chopping back and forth since the beginning of Obamunism, winding itself into [...]