Gold Editorials & Commentary

Bottom line of the charts that follow is: It seems that speculators are starting to exit the "hot" markets

Rising tops and bottoms in price accompanied by falling tops and bottoms in PMO is bearish for oil.

Summary and Conclusions

Acknowledgment: Mr Ted Butler's most recent article drew my attention once again to the relationship between outstanding Commitment of Traders contracts and subsequent price movement is the silver price.

The Big Picture

Gold & Historical Norm is Chapter I of the Gold Drivers Report and analyses Gold against its own historical norm. This is important since many people argue that Gold is at an historic high these days and therefore bound to fall.

The proportion of mind space that this analyst has been paying to the US markets (which he typically only does in his spare time) is growing to become uncomfortably high.

The fact that signs of growing inflation have coincided with a strengthening dollar has led many to the erroneous conclusion that higher inflation is somehow good for the dollar.

The term "Petro-Dollar" has been bandied about for years. In my travels, much has been mentioned in indirect terms about it, with assumptions of its nature and structural significance.

Home page: www.goldcorp.com

I just happened to stumble across the chart below, which is a 5% X 3 box reversal of the RATIO of silver to gold.

It is a matter of absolute fact that the Mayan Calendar ends on December 21 st, 2012.

There are two ways of looking at this:

Today's release of March's much weaker than expected non-farm payroll numbers (110,000 verses average estimates of 213,000), together with February's downward revisions, provides clear evidence that the "recovery" is indeed faltering.

Introduction

Bread and Circuses is defined as "Offerings, such as benefits or entertainment, intended to placate discontent or distract attention from a policy or situation".

Why not assure monetary virtue by trusting, not in the monetary wisdom of men, but in an objective standard? Why not emulate our great grandfathers and tie our currency to gold?

My gold customers must be quite upset with me at the moment. I have been a gold bull for over two years, but recently the merging of short, intermediate and long term technical views have indicated a large increase in the potential for a bear break in gold.

In his latest commentary, Morgan Stanley's Stephen Roach, perhaps the only Wall Street economist who at least partially comprehends the looming economic danger, once again lamented that a "co-dependent global economy can't live without the excess consumption of

This time-honored question has historically been debated within the province of gender battle. Banter between the sexes has countered machismo, never to set the record straight on true satisfaction and lasting harmony among partners.

Last week almost every index and market, except the dollar index, fell after the Federal Reserve raised interest rates and admitted in its accompanying statement that there is indeed inflation.

The March 21, 2005 news item that the "EU member states have agreed to relax constraints their budgets are subject to under the Stability and Growth Pact which underpins the euro" contains the most positive news for gold in the past two years.

The extraordinary nature of the weekly chart below (source: Decisionpoint.com) is the number of gaps that appear thereon

Introduction

Since the release of the Fed Open Market Committee statement yesterday, much has been said about the Fed's newfound commitment to contain inflation.

The Japanese developed a technical analysis set of tools called "Candlesticks" which goes far beyond the simple depiction of a chart as a white bar for a rising day (or week), and a colored red or black bar for a declining day (or week).

"The problem in silver is that there is no easy solution, save sharply higher prices. When the silver manipulation breaks, it will be disorderly and disruptive. It will be a matter of great upheaval.

Two weeks ago, my article titled " March reversals" pegged the $SPX at 1222.