"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 1 day OPEC ‘Supergroup’ Keeps Oil Exports Subdued
  • 1 day One Belt, One Road, One Direction for Precious Metals
  • 1 day Vicious Trio Keeps Bitcoin in Chokehold
  • 1 day How Infrastructure Is Driving A Commodity Boom
  • 1 day What’s Really Happening With Venezuela’s “El Petro?”
  • 1 day Gold Bull and Bear Markets
  • 2 days 5 Big Drivers of Higher Inflation Rates Ahead
  • 2 days U.S. And China To Face Off Over Aramco IPO
  • 2 days Gold Bulls, Brace Yourselves – Fed Hikes Are Coming!
  • 2 days Stocks Fail to Hold Gains, But Still No Correction
  • 2 days Cryptojacking: A New Threat Vector To Critical Infrastructure
  • 3 days Why The Next Oil Boom Will Be Fueled By Blockchain
  • 3 days 5 Things Investors Should Know About China this New Year
  • 3 days Is The South Korean Crypto-Drama Finally Over?
  • 3 days Miners’ Rally? What Rally? Watch Out for More Fake Moves!
  • 3 days Four Percent 10-year Note Yield Will Be a Floor Not a Ceiling
  • 4 days The End Is Near
  • 4 days 5 Record Breaking Gemstones Even Billionaires Can’t Buy
  • 4 days Irredeemable Currency De-tooths Savers
  • 4 days CFTC Offers Bounty For Crypto Pump And Dump Whistleblowers
5 Big Drivers of Higher Inflation Rates Ahead

5 Big Drivers of Higher Inflation Rates Ahead

Investors got lulled into a…

The End Is Near

The End Is Near

The doomsayers have been calling…

Daily Technical Report

Gold has re-tested its 200-day average, which was recently broken for the first time in 3 years. The move was triggered by a multi-month triangle pattern breakout (see both daily and intraday charts).

Downside pressure remains heavy from inter-market weakness across related risk proxies such as EUR/USD and equity markets. Moreover, there is still heightened risk for a much larger decline if we confirm a weekly close beneath $1600 and $1530 (swing low).

A number of "bargain hunting" trend-followers will be watching this benchmark "line in the sand" for repeat support or a potential big squeeze lower into $1300 and perhaps even $1040-1000 (12-year channel-floor/see top chart insert).

Speculative (net long) flows also support this view having recently breached a key downside level which may threaten over 2 years of sizeable long gold positions. This will trigger a temporary, but dramatic setback that would ultimately offer a unique buying opportunity into summer 2012.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment




Don't Miss A Single Story