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One bonus of the global recession is that it wiped a lot of incompetent hedge fund managers and energy speculators from the canyons of Wall Street. As the Gordon Gecko sycophants regroup and look for the next Big Thing, maximizing profit while minimizing risk, the landscape looks very different than it did a year ago. […]
This week in Gold covered a $61.00 range but who would have thought it would happen in one day. The February Globex Gold covered a $61.00 range today. Posting an $1196.80 High and a Low of $1135.80…. The news of Dubai’s debt problems with assured creditors sent the Asian equity markets drastically lower (Tokyo Nikkei […]
Based on W.D. Gann Gold futures on the Comex division of the New York Mercantile Exchange on Wednesday notched another fresh all-time record high of $1,183.20 an ounce, basis December futures. From a longer-term perspective, gold prices have been trending higher since the February 2001 low of $255.00 an ounce, basis nearby futures. There are […]
Crude traded below the 50 day moving average for the first time since 10/9 today hitting our first objective of $76. If today’s low holds in the coming sessions this could be a good beginning to a long scale, trade. At this point we cannot rule out a trade in the short run to $74 […]
The recent revelations of a International Energy Administration whistleblower that the IEA may have distorted key oil projections under intense U.S. pressure is, if true (and whistleblowers rarely come forward to advance their careers), a slow-burning thermonuclear explosion on future global oil production. The Bush administration’s actions in pressuring the IEA to underplay the rate […]
This week in Gold has provided yet another all-time high as the U.S Dollar continues to have difficulties sustaining or maintaining any momentum. The Dollars performance versus the Euro, poor economic reports and the worlds move into hard assets have helped to fuel this mammoth Gold and Silver rally. The CPI prices increased 0.3% […]
December copper futures on the Comex division of the New York Mercantile Exchange on Wednesday hit a fresh 14-month high of $3.1720 a pound. Price action this week has also seen a bullish upside technical “breakout” from a sideways trading range at higher price levels that had been in place for three weeks. The red […]
As we all live in the present, it is very hard to fully assess the future implications of decisions supported or made by political and business leaders. An extraordinary game of geo-strategy is under way to lock in long-term agreements, notably in the energy sector. At a global level, the transit routes of future oil […]
Treasuries crept higher after an early morning sell-off but the pace was much more subdued that has been in the previous few sessions. The inability of the bears to hold bonds and notes underwater seems to favor continued, yet moderate, gains in the near term. Despite what appears to be going on in the commodity […]
Are you sold on gold? The precious metal outperformed every major equity index in the world in 2008. The question is, can gold–and other precious metals–keep on flying? Or would buying today be buying high and selling low? Precious metals have always been intriguing to investors because they tend to hold their value. In times […]
