In the last 90 days, the price of gold increased 25%, from around $440 to $550. In contrast, it took three years from its bear market low in 1999 for gold to sustain a 25% rise.
Bear's Lair
Bear Markets always follow Bull markets and a severe stock market correction is long overdue. Bears Lair will spot, monitor and analyze the stock market correction as it develops.
The immediate outlook for gold very much depends on the outcome of the silver "war of attrition", being fought in the $8.80 - $9.30 zone.
Today's move of the US Dollar Index to 87.98 represents a fairly significant technical break down below the longer term Moving Averages on all three charts below (Courtesy DecisionPoint.com).
When gold fell 10% in five sessions in Dec, top pickers were sure that was it, gold was going down to $420. On Wed this week, gold fell $10 and some of these top pickers were back, may be $500 this time they said.
Let us add another dimension to the perceived value of gold. It is a value applied to an alternative source of energy, higher states of consciousness, space-travel, health and in all likelihood, more.
There are two important factors indicating that the Precious Metals sector is at a near-term top and that a significant correction is beginning, or will soon.
When it comes to spin, Washington is no match for Wall Street.
"I am pleased to report the inflation monster has been captured and placed in a jar".
I regret that (blush, blush) I must admit to an error in my article of 13 January 2006 in which I calculated a long term price objective for gold of $4,250 and a shorter term price obje
Below is an extract from a commentary originally posted at www.speculative-investor.com on 12th January 2006.
In his thought provoking article at the end of December, Alex Wallenwein examines in a coffee table setting the question of why the hedged XAU index broke out well before the unhedged HUI index.
Abstract: the proposed Iranian Oil Bourse will accelerate the fall of the American Empire.
I. Economics of Empires
The Bernanke Era
The Sacrifice Ratio
How Important is Housing to the Economy?
With the gold price pushing to new 25 year highs, it is probably a good time to take stock of the longer term picture to see where the gold price might be heading.
This week, Wall Street strategists cheered as the Dow Jones closed above 11,000 for the first time in four and a half years.
Well now, haven't prices taken a nice upsurge? Everyone's at a profit position now, it seems. For some, they have waited a bit too long for this, and are now tempted to take their profits and sell…at a profit of course.
The conflict with Iran over their advancing nuclear program has moved gradually toward severe escalation. Iran's insistence to develop uranium enrichment facilities creates a supply fork.
There is a song that was recently re-made by a famous female vocalist. The title of the song is "More Than Words", but it was originally sung by a group called Extreme.
Gold had a roller-coaster week, rising strongly early in the week to challenge its early December highs, and then scared a lot of traders on Thursday by looking like it was double-topping with those highs, before a really robust ra
Happy new year and wishing you all peace and profits in 2006.
If the first trading week of the new year is a sign of things to come, 2006 may finally reunite Americans with economic reality.
New .9999 fine (24 karat) 1-oz legal tender $50 gold coins will be added to the U.S. Mint's line of gold bullion coins in 2006 when President Bush signs into law a bill that Congress passed in December.
When the December Federal Reserve Open Market Committee meeting minutes came out on Tuesday afternoon, it was akin to a starter gun shot at the beginning of a race. Debate will persist on interpretation.
Jesse Livermore said this many decades ago, and it still applies today…"it is uncommon for a man to be right and sit tight." And in order to help many who are invested in the gold sector to sit tight, meditate on the chart below wh
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Gold's special properties mean that it has a greater variety of uses than almost any metal.
