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  1. #21
    Join Date
    Nov 2013
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    Auckland, New Zealand.
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    199

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    10/06/15

    Link: http://morrisandwatson.com/?p=5149


    Last week I noted Gold's test of the resistances just over US$1200, now we've seen long held support come under pressure this week. This all stemmed from last Fridays much watched US employment numbers which exceeded estimates, driving up expectations that the Fed would move sooner rather than later to increase interest rates. The resulting speculative jump in US dollar saw Gold fall below long held support around US$1175, which in turn triggered protective Sell stops placed just below this key level, spiking prices to US$1162 lows. Gold had declined in four of the five sessions last week as US data gradually confirmed the Federal Reserve recent minutes, which said declining first quarter growth was due to temporary factors like the unseasonably harsh winter. The Fed removed all calendar references in its forward guidance and said that recent economic weakness might be "transitory" in nature. This means that bank is now entirely dependent on data so a rate increase could happen at any future meeting.


    Meanwhile in Greece, the country delayed last Fridays 300-million-euro repayment to the IMF until the end of June, increasing the risk of a Greek exit from the bloc. Concern over this situation however has failed to propel interest in gold. With investor sentiment for gold so weak, gold prices may well continue lower but I feel this is leading to a better buying opportunity. And given developments in Greece and with the potential for corrections in other asset classes, it may not be too long before the markets start looking for a safe haven again.


    As for Silver, this has dropped below the $16 mark for the first time since May 1 and has struggled to regain and hold this level. Currently we're sitting just below that at US$15.968 per oz. Technical charts indicate that we're sitting on an ascending support line, which originated in March of this year. Silver should be viewed as oversold and therefore valuable to a corrective bounce. I'm a buyer of Silver at these levels with a protective Stops at 16.87.


    By Adam Van Sambeek, Treasury Manager

  2. #22
    Join Date
    Apr 2004
    Posts
    763

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    ANZ expects the gold price to top $2,000 an ounce by the end of the decade while Capital Economics has a $1,400 forecast for the end of this year....

  3. #23
    Join Date
    Nov 2013
    Location
    Auckland, New Zealand.
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    Greek Gold Rush Fails to Materialize (OMF Metals Report by Kevin Morgan)

    30-06-15

    LINK: http://morrisandwatson.com/?p=5224

    Overview *Greek gold rush fails to materialize *Silver slides beneath support *Copper bounces on Chinese hedge fund actions
    See page 2 of the report for trading recommendations.

  4. #24
    Join Date
    Nov 2013
    Location
    Auckland, New Zealand.
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    OMF Metals Report by Kevin Morgan 8th July 2015

    Overview *Gold unfazed by Greek tragedy *Silver looking cheap compared to gold *Copper slumps on China fears



    See page 2 of the report for trading recommendations

    #china, #silver, #gold, #copper, #USD, #NZD, #greece, #asia

    LINK: http://morrisandwatson.com/?p=5242

  5. #25
    Join Date
    Sep 2008
    Posts
    7,562

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    gold tanked to us$750 after the 2008 crisis

    but 2009 - 2012

    it went on a run to over us$1500

    its days of volatility are not over

    so its ability to produce good gains over the medium term is still there
    have you defeated them?
    your demons

  6. #26
    Join Date
    Nov 2013
    Location
    Auckland, New Zealand.
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    199

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    Adam's insights:

    Be careful for what you wish for! After an extended period of low volatility global markets have been shaken up thanks to an escalation in the Greek saga and China’s announcement of a wave of new measures in an attempt to halt the collapse of the Chinese stock markets. Traders love volatility, until they’re actually faced with it...read more at http://morrisandwatson.com/?p=5249

  7. #27
    Join Date
    Sep 2003
    Location
    High up above and deep down under
    Posts
    10,915

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    Meanwhile, gold bugs continue to feel the wrath of bullion's decline.
    Gold fell for the 10th straight day Wednesday,
    marking its longest losing streak since 1996.
    http://www.cnbc.com/2015/07/22/trade...or-silver.html
    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

  8. #28
    Join Date
    Nov 2013
    Location
    Auckland, New Zealand.
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    199

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    Is the Worst Yet to Come?

    What a start to the week, within a matter of seconds, the gold price shed nearly five percent of its value...

    Scores of Chinese traders offloaded more than five tonnes of metal - pushing the price from around $1,130 all the way down to $1,085. It was brutal, falling prices triggering other sell stops sitting below the $1,100 level, exaggerating the move. It seems very strange that such a large flow of orders were placed on such a thin market. Monday morning isnít the shrewdest time to transact large orders, due to the absence of Europe and Western volumes. Japan was also out due to a National holiday, so either this was an attempt at market manipulation or an execution error.

    With only a week to go before Option expiry, I suspect an Option play could have been a motivation behind the move. Prices have recovered to the $1,100 level, which I expect should see Gold do a lot of work around this level if this is fact the case. The once very cheap 1,100 August Gold Puts Prices have since jumped 15 fold since last week.

    Last Friday China released figures that showed its Gold reserves had not increased as much as analysts predicted from the previously released figures, some six years ago. So another theory is that the sharp move may have been sparked as investors now feel that China will not increase its Gold reserves and thus cutting off a strong source of demand. Iím not sure any figures out of China can be truly relied on, thereís talk that the figures released are grossly understated with China previously reported buying up to 2,000 tonnes of gold each year for the last few years.

    Goldman Sachs are predicting the worst is yet to come for Gold and prices could fall to $1,000 per ounce, saying the risks are clearly skewed to the downside in this environment. Iím not about to argue with the mighty Goldman Sachs, but predictions like this tend to follow large market moves. Similar predictions were made when Gold was screaming up around 1,900 per oz. and everyone calling for $2000.

    http://morrisandwatson.com/todays-gold-silver-prices/

  9. #29
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    Nov 2013
    Location
    Auckland, New Zealand.
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    199

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    READ MORE: http://us3.campaign-archive2.com/?u=...&id=92f1dec53d

    Last weekís capitulation through wavering support may well have attracted Gold some much needed buying interest...



 

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