Metals Futurescast Articles
(GC) Gold, Silver Engage Critical Dec Lows, Generate Historic Pessimism; Something's Gotta Give By: RJO MRTMay 16th, 2012 9:27AM CDT Technicals, May 16, 2012; 8:15am The important by-product of yesterday and overnight's continuation of the clear and present downtrend in gold prices is the market's definition of recent corrective highs at 1564.4 and 1602.2 detailed in the 240-min chart below. Given the market's engagement of Dec'11's pivotal 1523.9 low and .... Read More |
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Business Spectator- Gold futures slump to fresh 2012 lows By: Bob HaberkornMay 15th, 2012 9:18AM CDT "It's like everybody's forgetting what gold actually is - a hedge against uncertainty and fiat money," said Bob Haberkorn, senior commodities broker at RJO Futures. Haberkorn said gold prices will likely test $1,550 before traders sitting on the sidelines return to the market in search of bargains. "I've talked with severa.... Read More |
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Kitco - METALS OUTLOOK: Europe, Global Economic Growth May Dominate Headlines Again Next Week By: Daniel PavilonisMay 14th, 2012 8:22AM CDT Daniel Pavilonis, senior commodities broker with RJO Futures, said he sees further weakness for gold. “With the J.P. Morgan news, I see it getting a lot worse (for banks)…. There’s the scare factor and I see flight to quality continuing into the dollar next week and no QE3 (third quantitative easing),” he said. To read th.... Read More |
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Upside Move in Gold after the Report By: Bob HaberkornMay 4th, 2012 9:31AM CDT Look to catch moves this coming week in the gold market with it currently trading close to the weekly low of the range. The recent bottom on 4/23 at 1623 does appear to be good support considering pre US Department of Labor low of 1626. Look to buy into the weekend at 1635 with a stop at 1622 or lower. Considering how weak the employment numbers.... Read More |
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Kitco - Market Nuggets: RJO's Haberkorn: Comex Gold Edges Slightly Higher After Mixed U.S. Jobs Report By: Bob HaberkornMay 4th, 2012 8:46AM CDT Comex gold nudged slightly higher but is not making a major push in the immediate aftermath of the monthly U.S. jobs report. Bob Haberkorn, senior commodity broker with RJO Futures, describes the data as somewhat mixed. The government reported only 115,000 new jobs were added in April, less than consensus forecasts for around 165,000. However, Habe.... Read More |
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Gold Getting Ready for a Move By: Eddie ModlaMay 2nd, 2012 8:59AM CDT The gold market has seen consolidation over the last 2 months with a slight downward bias after its drop off at the end of February. The ranges are getting tighter and this can be interpreted as the calm before the storm. The all important Nonfarm Payroll number to be released Friday morning is expected to give the market direction. Recent econo.... Read More |
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Kitco - Prices Expected For Gold Next Week After Recent Gains By: Bob HaberkornApril 30th, 2012 9:32AM CDT Bob Haberkorn, senior market strategist at RJO Futures, said given the disappointing GDP figures and the rise in unemployment claims on Thursday, some in the market are beginning to think that the Fed may have to come back with some sort of stimulus program. That supported metals. Technical-chart analysts are generally bullish on gold for next wee.... Read More |
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KTAR - Gold climbs on hopes of new Fed bond purchases By: Phillip StreibleApril 27th, 2012 10:25AM CDT "The catalyst for any kind of threat of an additional quantitative easing plan out of the Fed is going to be driven by a deterioration in the jobs market because that's where ... the U.S. population feels that the most," R.J. O'Brien commodities broker Phillip Streible said. To read the full article with Phil's comments, please.... Read More |
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Kitco - Gold Prices Choppy But Ending Day Near Steady As FOMC Reiterates Previous Message By: Daniel PavilonisApril 26th, 2012 8:33AM CDT The outlook for slight growth may have pushed QE3 “off the table a little more, but you still have stresses in regards to the EU, the U.K. in a double-dip recession, so in the long term I’m positive gold,” said Daniel Pavilonis, senior commodities broker with RJO Futures. Spencer Patton, chief investment officer for Steel Vine In.... Read More |
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(SI) Toggle Directional Silver Biases Around $31.11 By: RJO MRTApril 26th, 2012 7:55AM CDT Technicals, April 26, 2012; 6:55am The pertinent trend currently in the silver market is down. This is clear in the daily log scale chart below. But given the market's return to the immediate area around the (30.03) 61.8% retrace of Dec-Feb's 26.145 - 37.58 rally, a confirmed bullish divergence in short-term momentum above Tue's 31.1.... Read More |
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CNBC - GEPL Capital's view on bullions, base-metals, energy By: Jeffrey FriedmanApril 24th, 2012 8:30AM CDT “The contraction in Chinese manufacturing doesn’t sit well with copper, and the elections in Europe are causing some concern,” Jeffrey Friedman, a senior commodities broker at RJO Futures in Chicago, said in a telephone interview. “Copper is reflecting the worries of all the markets today.” To read the full article wi.... Read More |
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Copper Losing its Luster By: Kenneth HughesApril 20th, 2012 8:56AM CDT Comex copper is up slightly today on the heels of an uptick in the Asian copper market. With no economic news on the calendar today we can take a queue from yesterday’s economic data. The Weekly Jobless Claims were down 2k; however the previous week was revised up 26k. There was a down tic in the Philly Fed Survey which showed growth is qui.... Read More |
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Video - My Loans Consolidated- Gold Slows Down with China's Economy By: Phillip StreibleApril 17th, 2012 10:13AM CDT The economy of China is slowing down. For several weeks now China has shown lower GDP figures which impacts the gold market. The expanding yuan band also pushed the dollar index up which caused the gold price to go down. Watch the interview with Phil Streible, Senior Commodities Broker of RJO Futures. |
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Gold has some Explaining to do! By: Michael RatajApril 17th, 2012 8:28AM CDT The darling trade has suffered quite some downside over the last 2 months as gold sold off to the 1610 level. The 1630 level provides stronger support and the potential case for a bottom. If these levels don’t hold be cautious. Momentum is waning but in the past these were the spots where the market could pop. We’re currently holding.... Read More |
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Kitco- Technicals, Resurgence Of QE Hopes Expected To Lift Gold Prices Next Week By: Daniel PavilonisApril 13th, 2012 3:38PM CDT Daniel Pavilonis, senior commodities broker with RJO Futures, looks for gold to trade sideways or correct lower next week. While he describes himself as upbeat for the longer term, he also does not see an immediate fresh catalyst. He said he has been “extremely bullish for a long time” and anticipates continued debasing of currencies u.... Read More |
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Kitco- Market Nuggets:RJO Futures' Pavilonis: Comex Gold Eases As Dollar Strengthens By: Daniel PavilonisApril 13th, 2012 10:50AM CDT Comex gold is softer on a day on when there appears to be some flight to quality in the U.S. dollar, says Daniel Pavilonis, senior commodities broker with RJO Futures. As of 11:01 a.m. EDT, June gold was down by 8.60, or 0.5%, to $1,672 an ounce. The euro was down to $1.3087 from $1.3186 late Thursday. Equities were also lower, as were base metals .... Read More |
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QE3 Would Make Gold Glitter By: Tom FeeneyApril 12th, 2012 12:37PM CDT Will they, won’t they? That is the daily debate if the Federal Reserve will implement another round of monetary stimulus. With tepid job growth from Friday’s nonfarm payroll number and today’s higher than expected jobless claims and the talk of QE3 will bring out the cry from the doves like Janet Yellen to expand the Fed’s .... Read More |
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Bloomberg - Copper Futures May Fall for Third Day on Signs Demand Will Ebb By: Frank J. ChollyApril 11th, 2012 12:02PM CDT Copper may fall for a third day in New York as signs of a worsening debt crisis in Europe and slowing growth in China fuel concern that demand will stall. “Concerns about the health of the global economy are weighing on copper,” Frank Cholly, a senior commodity broker at RJO Futures in Chicago, said in a telephone interview. “The.... Read More |
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Copper - Setting A Bearish Tone By: Stephen DavisApril 10th, 2012 8:18AM CDT As we begin this Monday after a long Easter weekend, we notice a reversal down in a monthly continuation of a copper wire chart. Now it is not the end of the month, nor is it a third of the way through the month, however our interest is aroused. With Goldman Sachs recommending being neutral on commodities, in the short term, if copper wire closes t.... Read More |
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Trading Gold Ahead of the Fed Announcement By: Bill DixonApril 3rd, 2012 12:10PM CDT After beginning the year with a huge move to the upside, gold has spent the past month working its way lower. The market now finds itself in a well established downward channel with several closes below the 200-day moving average. Barring a statement from the Fed today that hints at more easing, I believe the technicals and lack of bullish fundam.... Read More |
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CNBC-Manufacturing hopes push metals prices higher By: Matthew SchillingApril 3rd, 2012 10:22AM CDT Metals prices rose Monday, helped by an encouraging report about U.S. manufacturing. The higher prices could also be a sign that investors are putting their money into metals because they view them as a haven from the falling dollar, said Matthew Schilling, a commodities broker at RJO Futures in Chicago. Investors also appear to believe that the .... Read More |
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Catch the Gold Heading Lower By: Tim HaberkornApril 3rd, 2012 10:09AM CDT In pointing out the seasonal trade that I follow every year, gold has its weakest month in April due to profit taking by investors to pay annual tax bills. Gold demand is also historically weak during the month of April, I would look to sell the futures today if possible or sometime this week before it starts to decline. Look to sell the gold at 16.... Read More |
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Kitco - Major Of Survey Participant See Gold Rising Next Week By: Phillip StreibleMarch 30th, 2012 2:33PM CDT Phil Streible, senior commodities broker at R.J. O’Brien, also offered a firmer outlook based on technical charts. “Gold prices should start to rally after holding key levels at $1,650 and $1,635, we would expect resistance near $1,680 the 200-day moving average and $1,700 (the psychological level),” he said. To read the full art.... Read More |
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Financial Post - Gold posts biggest gain in a month By: Phillip StreibleMarch 23rd, 2012 10:54AM CDT “We are seeing a dollar play today, and commodities across the board are rising,” Phil Streible, a senior commodity broker at R.J. O’Brien & Associates in Chicago, said in a telephone interview. “Some people are also trying to reassess the Chinese data and expect their demand for commodities to rise.” To read the .... Read More |
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(GC) Gold Correction Continues By: RJO MRTMarch 14th, 2012 9:23AM CDT Technicals, March 14, 2012; 8:55am Today's clear break below 06-Mar's 1663.4 low reaffirms the developing downtrend first signaled by 29-Feb's mo failure below 16-Feb's 1706.7 corrective low shown in the daily log chart below. But perhaps the most important by-product of this latest spate of weakness is the market's definitio.... Read More |
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BusinessWeek - Gold Extends Slump on Signs Fed Won't Expand Stimulus By: Phillip StreibleMarch 14th, 2012 8:32AM CDT “This is a big disappointment for gold investors who are anticipating additional stimulus,” Phil Streible, a commodity broker at RJO Futures in Chicago, said in a telephone interview after the Fed statement at 2:15 p.m. “People are still favoring the dollar.” To read the full article with Phil's comments, please go to B.... Read More |
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Video - SFO Magazine - Be Patient With Gold-A Better Entry Point May Lie Ahead By: Kevin CraneyMarch 7th, 2012 2:42PM CST Wed March 7 1:15 p.m. CT—April Comex gold futures bounced modestly Wednesday, following the massive price plunge over the last week. Watch the video as RJO Futures Senior Broker, Kevin Craney discussing the gold market with Kira McCaffrey Brecht, managing editor at SFO. |
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(HG) Copper Teeters Around Key $3.6935 By: RJO MRTMarch 7th, 2012 7:49AM CST Technicals, March 7, 2012; 7:40am This week's resumption of 29-Feb's bearish divergence in short-term momentum clearly confirms at least the intermediate-term trend as down. And by virtue of the extent and impulsiveness of yesterday's break, the market has defined yesterday's 3.8830 high as the corrective high and risk parameter .... Read More |
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Nasdaq - PRECIOUS METALS: Platinum Ends At 5-Month High, Gold Rallies By: Bob HaberkornFebruary 23rd, 2012 8:35AM CST "There's major support that's formed" under the gold price, said Bob Haberkorn, senior commodity broker with RJO Futures. "We've convincingly traded through $1,750. It's showing [that] traders and investors out there are basically going into safety." To read the full article with Bob's quote, please go to nasdaq.... Read More |
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The Street - Gold Prices Gain on Greek Debt Deal (Update 1) By: Phillip StreibleFebruary 9th, 2012 8:59AM CST On the one hand, if Greece is forced to leave the euro the currency could rally, "it's like trimming the cancer off," says Phil Streible, senior commodities broker at RJO Futures, and would most likely support gold. Although if risk appetite returns in full force, gold might be forgotten as a safe haven asset. If Greece leaves the euro .... Read More |
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(GC) S-T Mo Failure Interrupts Gold Rally, Defines $1,765.9 Interim High, Risk By: RJO MRTFebruary 6th, 2012 11:19AM CST Technicals, February 6, 2012; 7:05am The gold market's failure Fri and overnight below some recent short-term corrective low detailed in the 240-min chart below certainly stems the recent rally and exposes an interim correction. As a direct result of this short-term weakness, the market has defined Fri's 1765.9 high as one of developing i.... Read More |
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The Street - Gold Prices Gain Despite Firmer Dollar (Update 1) By: Phillip StreibleFebruary 3rd, 2012 8:30AM CST "Over the past few months, we've see domestic and international bank continuously adding to their short position in gold," says Phil Streible, senior commodities broker at RJO Futures. "I would expect with the recent $100 move higher, the actions by the Fed and the inability [for prices] to stay below the 200 day moving average for .... Read More |
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(GC) Gold Bull Developing Nicely, But Range-Center Warrants Tighter Risk Policy By: RJO MRTJanuary 31st, 2012 9:32AM CST Technicals, January 31, 2012; 7:40am Since the early days of Jan and as detailed in 03-Jan's Technical Webcast, we've been discussing the gold market's longer-term bullish prospects. These bullish prospects took a major step forward with 05-Jan's bullish divergence in momentum shown in the daily log close-only chart below that war.... Read More |
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The Street - Weak Euro Weighs on Gold Prices By: Phillip StreibleJanuary 25th, 2012 8:45AM CST Gold also butted up against some key resistance levels, and prices had climbed more than $20 in the past two trading session, triggering some profit taking. "I think this $1,670 to $1,680 area is going to be resistance," says Phil Streible, senior commodities broker at RJO Futures. "The last time we were doing this grinding pattern in .... Read More |
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Kitco News - Market Nuggets: WGC: Gold Fundamentals Remain 'Robust;' 2011 Price Rises In Many Currenci By: RJO Futures Market AlertJanuary 23rd, 2012 10:14AM CST While gold is higher so far Monday, R.J. O’Brien & Associates cautions that the market could be “rather quiet” over the next week or two now that Chinese New Year holidays are under way. “They were very strong buyers leading up to the New Year but now they are off celebrating,” R.J. O’Brien says. Analysts dou.... Read More |
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The Street - Gold Prices Rebound on Technical Buying (Update 2) By: Phillip StreibleJanuary 23rd, 2012 8:28AM CST Gold prices jumped in mid morning trading on technical buying, holding on to gains after prices brushed up against the $1,650 an ounce level. Gold is primarily a "trading affair" today, says Phil Streible, senior commodities broker at RJO Futures. Streible says there is a lot of shorting gold -- that is betting against a higher gold price -.... Read More |
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(SI) Silver Recovery Resumes, Defines New $29.42 Risk By: RJO MRTJanuary 19th, 2012 8:50AM CST Technicals, January 19, 2012; 8:40am Overnight's recovery above 12-Jan's 30.675 high and short-term risk parameter left in the wake of Fri's bearish divergence in short-term momentum nullifies that divergence and reinstates the broader developing recovery from 29-Dec's 26.145 low. This strength brings silver back in line with the .... Read More |
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(GC) Continued Gold Gains Define $1,625 S-T Risk By: RJO MRTJanuary 17th, 2012 8:41AM CST Technicals, January 17, 2012; 8:25am Overnight's gold rally above last week's 1662.9 high detailed in the 240-min chart below reaffirms the developing recovery from 29-Dec's 1523.9 low and, most importantly, confirms Fri's 1625.7 low as the latest corrective low and tightest risk parameter this market is now required to fail below.... Read More |
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(GC) Developing Gold, Silver Strength Could Produce Surprising Gains By: RJO MRTJanuary 10th, 2012 8:37AM CST Technicals, January 10, 2012; 7:55am Overnight's gold gains above recent 1630-area resistance detailed in the 240-min chart below reaffirms the past couple weeks' recovery and defines yesterday's 1607.1 low as the latest corrective low and tightest risk parameter this market is now required to fail below to break this rebound and expos.... Read More |
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TheStreet - Gold Prices Struggle to Hold $1,600 By: Phillip StreibleJanuary 4th, 2012 9:31AM CST Phil Streible, senior commodities broker at RJO Futures, thinks that this pause in gold prices will trigger more buying. "Customers missed that first day of the pop so there are people that are real anxious to add positions on." Streible says there are a lot of people still on the sidelines and that any kind of small set back will force the.... Read More |
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Video - Video - CNBC - Oil, Currencies & Markets By: Phillip StreibleDecember 29th, 2011 9:07AM CST Phillip Streible, RJO Futures, Gold continues to show weakeness against a stronger US Dollar. |
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Last Trading Day for these DECEMBER FUTURES: NY Copper, NY Gold, NY Silver By: RJO Futures Market AlertDecember 28th, 2011 1:05PM CST TODAY, December 28th, is Last Trading Day for these DECEMBER FUTURES: NY Copper, NY Gold, NY Silver; NY LIFFE Gold (big and mini), NY LIFFE Silver (big and mini); NY Platinum, NY Palladium. TODAY is Last Trading Day for JANUARY NY Natural Gas FUTURES. December NY LIFFE Silver futures (big and mini) will cease trading a.... Read More |
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Video - The Street - Europe's Troubles to Boost Gold in 2012 By: Phillip StreibleDecember 27th, 2011 1:08PM CST Phil Streible, senior commodities broker at RJO Futures, says gold trading will be thin this week before climbing to $2000 in 2012. |
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Video - TheStreet - Gold Prices Rise, Reach for Key Technical Levels By: Phillip StreibleDecember 20th, 2011 11:10AM CST Gold prices were battling their way higher Tuesday as the metal rose along with the euro and as bargain-hunters stepped in to take advantage of lower prices. Phillip Streible, senior commodities broker at RJO Futures, still believes gold can hit $2,000 an ounce in 2012. "People are going to look at 2012 for a new asset allocation strategy".... View video |
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Video - First Business - Trader Talk: 12/15/2011 Market Overview By: Kevin CraneyDecember 15th, 2011 9:33AM CST Kevin Craney of RJO Futures discusses the latest market action. |
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(GC) Scale Considerations for Navigating Gold Market Consolidation By: RJO MRTDecember 13th, 2011 9:17AM CST Technicals, December 13, 2011; 7:55am On a short-term scale detailed in the 240-min chart below, there is little question that the trend is down. This decline was initially exposed by 05-Dec's short-term momentum failure below 01-Dec's 1737 corrective low, and then reaffirmed with last Fri's break below 06-Dec's initial counter-tr.... Read More |
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(GC) Gold Failure Reinforces Broader Consolidation Phase; Stand Aside to Avoid Chop By: RJO MRTNovember 22nd, 2011 11:47AM CST Technicals, November 22, 2011; 9:15am There is no question that as a result of yesterday's break below both 17-Nov's 1711 low and 01-Nov's 1681.2 low the intermediate-term trend is down. The 240-min chart below details this important continuation of the past couple weeks' slide that shows this former 1711-area support as new near-.... Read More |
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Digging for Gold By: Hector GalvanOctober 31st, 2011 11:26AM CDT Good Morning! The equities markets are trading lower and the dollar higher this morning after another large Japanese currency intervention. However, as I watch the gold trade lower, but not break below the 1700 mark in the December contract I am reminded to buy it on breaks. One would argue that as long as we can hold above the 1700 mark having a l.... Read More |
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RJO Futures Tip of the Week - Bulls and Bears By: Anthony PickettOctober 28th, 2011 3:26PM CDT In the real world there is not a likely chance that a bull and a bear will battle for dominance. If I had my choice of who would win such an epic battle I would choose the bull, not because I’m a Chicago Bulls fan, for that matter I’m a Bears fan too. It’s my opinion that a bear would be no match for a bulls thrust. I’m sure.... Read More |
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(SI) Silver's Lateral Triangle Speculation Defines $33.10 Risk Parameter By: RJO MRTOctober 24th, 2011 7:40AM CDT Technicals, October 24, 2011; 7:30am Knowing the typically costly trials and tribulations of trying to navigate or speculate on an aimless, lateral range such as that that has gripped the silver market over the past month, we hesitate to do so here. But given the market's recovery the past two days from the specific area around the 29.917 le.... Read More |
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RJO Futures Tip of the Week - Leverage in the Futures Market, the Power of Gold Futures By: Anthony PickettOctober 21st, 2011 9:55AM CDT How many of you remember the Periodic Table Grid? The Periodic Table Grid takes me back to my sixth grade science class discussion about gold. Of course, I would need to do a little refresher on what the table means, but one thing I can still recall the symbol used for gold on the grid, AU. Everything else is a blur since it was so long ago. Before.... Read More |
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(HG) Copper Failure Stems Correction, Looks to Resume 2011 Bear By: RJO MRTOctober 20th, 2011 8:35AM CDT Yesterday's break below Tue's initial counter-trend low of 3.2575 and, more importantly, 11-Oct's 3.2305 low detailed in the 240-min chart below clearly break early-Oct's recovery attempt and confirms at least the intermediate-term trend as down. This weakness defines former 3.23-to-3.2575-range support as new resistance and yester.... Read More |
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Silver Futures and US Jobless Claims By: Peter MoosesOctober 13th, 2011 1:17PM CDT US Jobless Claims took a small dip in the right direction today, down to 404,000, but not nearly low enough for us to get excited. We were hoping for the report to provide some guidance in the metals markets but with a 1,000 drop in claims the results won’t provide a major shift in either direction. December silver has been trading between 31.... Read More |
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(SI) Non-descript Silver Gains Define $28.43 S-T Risk, Could Contribute to Surprising Reversal By: RJO MRTOctober 6th, 2011 8:07AM CDT Technicals, October 6, 2011; 7:40am This morning's pop above the past five days' resistance from the 31.535 area may not seem like much and actually could just be intra-range noise. But we believe this strength deserves attention because it defines yesterday's 28.435 low as the end of what looks to be a 3-wave sequence down from 27-Se.... Read More |
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The Fall of Gold Futures By: William MooreSeptember 27th, 2011 9:20AM CDT After this week’s massive sell off in most markets, we saw the price of an ounce of gold fall over 300 dollars. Those looking to long the market again may find key technical and fundamental support for re-entry in the coming days. We have seasonal interest coming out of India in the wake of a good monsoon season. The World Gold Council sees t.... Read More |
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Video - Major Gold Bull Threatened While Copper Nearing Meltdown Status By: RJO MRTSeptember 22nd, 2011 10:07AM CDT While the current accelerated losses in the copper market do not come as a surprise as its major peak/reversal threat has been building for months, today's break below 24-Aug's 1757.3 low daily close in gold confirms at least the intermediate-term trend as down and might threaten the secular advance. Subjectively, we suspect Sep's porti.... View video |
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(SI) Silver Encroaches on Key $38.76 Support, Risk By: RJO MRTSeptember 20th, 2011 9:08AM CDT Technicals, September 20, 2011; 8:35am The daily log chart below shows a silver market that has been recovering since 12-May's 32.30 low. It's failure to sustain prices above 25-Aug's 38.76 low would arguably break this uptrend. And while the market's current position in the middle of this year's range might subject it to ju.... Read More |
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LAST TRADING DAY 8/29/11 By: RJO Futures Market AlertAugust 29th, 2011 10:51AM CDT TODAY, August 29th, is Last Trading Day for these AUGUST FUTURES: NY Copper, NY Gold, NY Silver; NY LIFFE Gold (big and mini), NY LIFFE Silver (big and mini); NY Platinum, NY Palladium. TODAY is Last Trading Day for SEPTEMBER NY Natural Gas FUTURES. August NY LIFFE Silver futures (big and mini) will cease trading at 1:25 p.m. (.... Read More |
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(GC) Despite Bounce, Beware Further Gold Market Volatility, Consolidation By: RJO MRTAugust 29th, 2011 7:48AM CDT Technicals, August 29, 2011; 7:25am The secular bull trend in the gold market has been one to behold on both technical and fundamental grounds. And with so many iterative stair-steps dating to even Oct'08's 681 low shown in the weekly log scale chart below, it's virtually impossible to conclude whether 23-Aug's 1917.9 high co.... Read More |
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Playing the Gold Futures Market By: William MooreAugust 25th, 2011 9:57AM CDT After pushing past $1,900 on Tuesday, the price for an ounce of gold has fallen nearly 200 dollars going into Thursday morning's trading session. A stronger dollar, bullish equity markets and stability from the fall of Muammar Gaddafi all contributed to this downturn. Those speculating in gold will likely remember the similar events from early .... Read More |
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(SI) Still Range-Bound, Silver Tilts S-T Directional Scale Up, Has Potential By: RJO MRTAugust 17th, 2011 9:54AM CDT Technicals, August 17, 2011; 8:10am While still within the middle-half of the past month's 42.29 - 37.02-range detailed in the 240-min chart below, this week's poke above last week's 39.86 high confirms at least the short-to-intermediate-term trend as up. And while this fact does n.... Read More |
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Quality Flight From Energies Continues to Benefit Gold By: RJO MRTAugust 8th, 2011 10:29AM CDT While we believe Fri's corrective hiccup in the energy complex has defined corrective highs that may now be used as risk parameters for shorter-term traders with tighter risk profiles, the longer-term trend in at least the gold market has been exposed as down, with RBOB and heating oil dangling perilously close to their late-Jun lows and suppor.... Read More |
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Copper Fails While Gold Continues to Rock By: RJO MRTAugust 3rd, 2011 10:17AM CDT While the uptrend remains intact on virtually all scales in gold, the copper market's failure below 4.3650 overnight confirms a bearish divergence in daily momentum that, stemming from the extreme upper recesses of this year's range, leaves it vulnerable to a larger-degree, if intra-2011-range relapse. Please review today's Technical We.... Read More |
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S-T Gold, Silver Failures Insufficient to Conclude Broader Peaks, But Fibs, Sentiment Warn to Beware By: RJO MRTJuly 28th, 2011 10:34AM CDT Bearish divergences in short-term momentum have been confirmed in the gold and silver markets as a result of this morning's setbacks. But while these failures are of a scale grossly insufficient to conclude larger-degree peaks and reversals, ancillary sentiment and Fibonacci evidence warrants raising the awareness to such steeper vulnerability .... Read More |
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Secular Gold Bull, Silver Recovery Resume, Define New Risk Parameters By: RJO MRTJuly 25th, 2011 9:05AM CDT Overnight's break above last week's 1610.7 high in Aug Gold confirms last week's merely lateral sell-off attempt as corrective, reinstates the secular advance and defines last Wed's 1581.1 low as the latest corrective low and tightest risk parameter this market is now minimally required to fail below to defer or threaten a bullish c.... Read More |
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Silver Margin Adjustments By: RJO Futures Market AlertJuly 21st, 2011 11:59AM CDT On May 4th we had advised that due to the extreme volatility in silver, and the risks inherent to that market, RJO would be raising silver margins to 150% of Exchange minimum. RJO has now made the decision to go back to exchange minimums in silver effective close of business today. Thank you for your understanding. |
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(GC) Momentum Key as Gold Nears $1,620 Forecast By: RJO MRTJuly 19th, 2011 11:16AM CDT Technicals, July 19, 2011; 7:05am As a result of early-Apr's accelerated resumption of the secular bull trend above Mar's consolidative hump around the 1445-area, we discussed a Fibonacci progression relationship of 1620 in 08-Apr's Technical Blog. With today's high coming within $10 of that forecast but with the simple uptrend .... Read More |
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$1,600 Gold By: Peter MoosesJuly 18th, 2011 10:26AM CDT As we continue to monitor euro-zone and U.S. debt issues August gold futures hit $1,600 a troy ounce. Gold futures have risen for nine straight sessions as investors turn to the metal as little progress has been made on whether or not to raise the U.S. borrowing limit. Following Friday's announcement the results of the stress tests performed on.... Read More |
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Running With the Bulls By: Peter MoosesJune 22nd, 2011 10:52AM CDT Gold continued its bullish trend even though we are experiencing a stronger Dollar. After Greek Prime Minister George Papandreou received support from 155 of the 300 lawmakers in the parliament, people are still seeking shelter in the safe haven of gold. August gold futures (GGCQ) opened at $1547.90 and have traded as high as $1559.20 as of 9:30 AM.... Read More |
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Copper on the Decline By: Peter MoosesJune 20th, 2011 12:46PM CDT Concern over the U.S. economy continued to hurt the copper futures market. Copper consumption usually mirrors economic growth. Demand decreases since consumers use less of the metal for wiring and plumbing in construction during weaker economic times. Since materials have already been purchased for construction, demand for copper tends to drop duri.... Read More |
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Jobless Claims Report Leads to a Drop in Gold By: Peter MoosesJune 2nd, 2011 11:05AM CDT Jobless claims fell 6,000 in the week of May 28th to 422,000 causing gold futures to drop at the start of the trading day. Gold prices have been trading in a narrow range as the dollar has tried to strengthen. As of this morning, the dollar slipped against the euro as talks for a more coordinated fiscal policy to deal with the euro-zone debts have .... Read More |
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Gold Prices Down After Economic Data is Released By: Peter MoosesMay 26th, 2011 10:22AM CDT With worse than expected economic data coming in today, we see gold futures prices taking a hit. Initial jobless claims are up 10,000 to 424,000. The Commerce Department's estimate for quarter GDP growth was unrevised at up 1.8% annualized. Gold futures were up the past four sessions due to the uncertainty with the EU and how it's going to .... Read More |
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Is the Celing in Sight? By: Peter MoosesMay 18th, 2011 1:14PM CDT Copper futures continue to increase but how long is this going to last? Part of the reason this mini-rally may be short lived is because reports on the U.S. housing and manufacturing sectors have come in lower than expected. Since copper is used in homes and buildings for piping and wiring, negative home and manufacturing reports can impact copper .... Read More |
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