metals
Posted in gold futures, metals on January 29th, 2009 by Commodity Trader – Comments Off
February gold futures have backed down from Monday's high of $916.30 an ounce, which did mark a fresh three-month high. Profit-taking pressure has been featured since Monday's high, but no chart damage has been inflicted and prices are still in a three-month-old uptrend on the daily bar chart. In an important recent development, gold prices and the value of the U.S. dollar have become disconnected. In recent months, gold prices and the U.S. dollar index had traded in a close inverse relationship. However, the past couple weeks have seen gold prices produce solid daily rallies despite the greenback showing strength on those days. The disconnection of gold and the U.S. dollar can be construed as overall bullish for the precious yellow metal.
Posted in Commodity News Updates, Futures, Options, commodities, currencies, energy, fiber, foods, grains, indices, interest rates, livestock, metals, trend trader on January 9th, 2009 by Bob Hunt – Comments Off
The Trend Trader helps to identify the current trend status of your favorite markets. Each contract in the table is represented by a directional tendency for both the Minor and Major trends. Two up arrows identify a Bullish Trend - two down arrows a Bearish Trend - one of each a Neutral Trend. The Trend Trader not only helps us to stay on the right side of market direction, but it also helps us avoid those markets without a trend. You can even use the grid as a spread matrix too - buying strength and selling weakness. Before you place your next trade, be sure to consult the Trend Trader.
Posted in gold futures, metals on December 17th, 2008 by Commodity Trader – Comments Off
February gold futures on Wednesday morning hit a fresh two-month high of $871.30 an ounce. The recent sharp depreciation of the value of the U.S. dollar versus the other major currencies has been a bullish catalyst for the precious yellow metal. February gold is presently in a two-month-old uptrend from the October contract low of $688.00 an ounce. The next upside price objective for the resurgent gold market bulls is pushing and closing prices above solid overhead trend-line resistance at the $890.00 area.
Posted in gold futures, metals on December 6th, 2008 by Commodity Trader – Comments Off
The U.S economy was dealt yet another blow as the the government announced 533.000 Americans lost their jobs in November. Since the January 1, 2008 Americans have lost 1.8 million jobs.The U.S now has it's highest unemployment rate since October 1993. These are certainly tough times in all economic sectors.
Posted in gold futures, metals on November 24th, 2008 by Commodity Trader – Comments Off
With Citibank becoming the latest victim for an economic Bail-out the Gold market soared above the $800.00 dollar level. This is a perfect scenario of what is to come. With Government agencies trying to support the U.S Dollar and investors selling the Stock market the Gold has had trouble holding gains. However, with all the economic woes that I believe are still on the horizon I'm very Bullish Gold.I believe there will be more negative U.S Dollar news than positive news in the up-coming months. Such as unemployment,building starts,General motors, and the American Auto industry in general just to name a few.
