GLD SPDR Gold Trust ETF Chart
Posted on 24. Jun, 2010 by Founder in Blog
The GLF SPDR Gold Trust ETF chart still looks a little bit overbought on my end. We use RSI and Stocastics a lot around here. Notice that last month it was at a much better buy point than it is now.
GLD Gold ETF Breakout?
Posted on 04. May, 2010 by Founder in Blog
Will all the gov’t bailouts, the GLD (Gold ETF) is breaking out higher once again. It spent the majority of the last couple months in a consolidation phase. The recent push above the highs and on strong volume suggest this breakout will continue short term. If you miss this trade, wait for a pull back to the higher trendline and re-enter long.
Long Term Gold Chart
Posted on 21. Apr, 2010 by Founder in Blog
Here is a great long term Gold chart to think about today traders. Actually as crazy as it sounds I think this could speed up and climb faster with all the national debt we are racking up.
GLD Gold ETF Update
Posted on 30. Mar, 2010 by Founder in Blog
Everyone who likes trading gold loves the GLD gold ETF. We have not looked at this recently but its caught our eye. Notice the tight range it’s forming (almost like a pennant pattern). Typically these patterns are followed by a breakout higher.
Market Vectors Gold Miners (GDX) Long
Posted on 10. Mar, 2010 by Founder in Blog
Market Vectors Gold Miners (GDX) may be setting up for a nice long trade here soon. It’s already broken out above a three-month downtrend line, as well as its 50-day MA. If it continues to show strength here soon and breaks above this 4 day high then it could be a good short-term long trade or a great entry for those who are long term bullish in GOLD. Have fun!
George Soros Buys Gold But Screams “Bubble”?
Posted on 18. Feb, 2010 by Founder in Blog
Billionaire investor George Soros had some rather definitive thoughts to offer on gold - one of which he called “the ultimate asset bubble” facing the markets. However, he neglected to mention that his hedge fund had been buying Gold hand over foot. Soros Fund Management, DOUBLED it’s bets on higher gold prices by the 4th quarter of last year. As the old saying goes “while one hand does one thing – the other does another.”
Good trick Georgie – but we caught it!
Gold Continues Sell Off – GLD Chart
Posted on 23. Dec, 2009 by Founder in Blog
Gold futures continued to sell off today in thin trading expectations for the economy helped send the U.S. dollar higher. Gold fell to the lowest level in seven weeks dropping $4.50 to $1,082.20 an ounce earlier this morning.
As you can see from the GLD chart above, it hasn’t taken Gold much time to completely erase the past two month’s of gains. Now it seems to be nearing support at some key technical levels.
Goldman Sees 2011 Gold Prices At $1,400
Posted on 04. Dec, 2009 by Founder in Blog
Goldman Sachs see 2011 Gold prices north of $1,400 – largely the argument was made on the basis of central banks becoming net buyers of gold, gold ETFs continuing to buy substantial volumes, and real estate prices continuing to be depressed. Taking a look at a 5 YEAR chart of gold, $1,400 is still a good stretch away.
In the announcement Goldman attributes the rise to a couple main areas – all of which are justified in and of themselves:
1- the dollar
2- central banks
3- declining production
4- inflation
5- deflation
6- global short-term interest rates
7- uncertainty and distrust in government
8- flight to safety
Alcoa Earnings Beat Estimates, Commodities Rise
Posted on 08. Oct, 2009 by Founder in Blog
Stock futures rose on Thursday as the latest earnings season got off to a positive start after Alcoa posted a surprise profit and as surging commodity prices underpinned a global equity advance.
Before the bell, shares of Alcoa Inc were up 7 percent at $15.20, a day after the Dow component posted its first profit in a year on cost savings and higher aluminum prices.
S&P 500 futures rose 9.40 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 75 points, and Nasdaq 100 futures added 12.25 points.
Gold prices rallied to a record for a third successive session on persistent weakness in the U.S. dollar. Spot gold touched a record of $1,058.20 an ounce and lifted silver and palladium. U.S. front-month crude jumped nearly 1 percent. On the economic front, the government is due to report weekly jobless claims at 8:30 a.m. EDT.
Gold Hits $1,040 Per Ounce
Posted on 06. Oct, 2009 by Founder in Blog
Gold surged to a record high Tuesday after a news report sparked widespread talk about the U.S. dollar being unseated as the currency for trading oil. Gold prices surge $21.90 to settle at $1,039.70 an ounce, surpassing its previous record of $1,020.20 on Sept. 16. Gold also set a new intraday high of $1,045. The previous intraday record was $1,033.90 in March 2008. Oil prices also rose 47 cents, or 0.7%, to settle at $70.88 a barrel. Earlier in the session, it reached a high of $71.77.
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