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Bernanke Cancels Jackson Hole Appearance Four Months Out Due To 'Personal Scheduling Conflict' Matthew BoeslerApril 22, 2013 Federal Reserve Chairman Ben Bernanke won't be attending the annual Jackson Hole Economic Policy Symposium in August due to a "personal scheduling conflict." The event, held by the Kansas City Fed every summer in Jackson Hole, Wyoming, usually features a keynote speech from the Chairman of the Fed. In recent years since the financial crisis of 2008, the speech has been used to signal important monetary policy shifts as the Fed has experimented with unconventional monetary policy tools. As MNI's Steven Beckner points...

Gold Is On A Tear Today Joe WeisenthalApril 22, 2013 After getting its butt kicked last week, gold is bouncing back a bit. It's up over 2% today, surging to above $1430/oz. At one point last week it was in the low $1300s.

Gold Price Forecast Drop Target $787.40 Commodities / Gold and Silver 2013April 21, 2013 - 04:00 PM GMT By: Brian Bloom The unemotional 5% X 3 box reversal P&F chart below (courtesy stockcharts.com) shows a measured move target for gold at $787.40. No time horizon is capable of being forecast. Too few understand that: · the Fed’s purchases of existing government debt does not add to the money supply and, therefore, it is not inflationary. (I read a scathing “expose” of Dr Bernanke’s stupidity and it was clear that the person attacking him did not understand the bookkeeping entries. )...

Brett Arends, writing at MarketWatch, refutes the notion that gold is in a speculative “bubble”. He does so by comparing the current spike in gold prices with other speculative run-ups in recent history. Gold is in a bubble. Anyone will tell you that. They’ve been saying it since gold was about, oh, $500 an ounce.But it’s a funny kind of a bubble. It’s the only one I’ve encountered where so few people seem to own the asset in question… During the dot-com bubble, you met lots of people with tech stocks. Taxi drivers told you what dot-coms they owned.During the...

This is an interesting moment in the gold market. On the one hand, Goldman Sachs has raised its one-year target for gold to $1,650 an ounce, about $275 higher than the recent price of $1,375. Other analysts, though, believe gold is tracing out a classic speculative bubble, much like real estate did in from 2002 through 2007. The proper starting point for technical analysis is agnosticism: Don't place any faith in either "story," but instead look to charts of price and other indicators for evidence one way or the other. It's remarkably easy to find evidence for a position you've...

Gold has long been valued, and not just for its beauty. The metal is also valuable for its resistance to chemical reactions, and for its electrical qualities. But some people have always valued gold most as an investment, even without any guarantee of growth in its value. For years, gold prices fell. Now gold is in the news because prices have risen to their highest levels since the early nineteen eighties. Gold is trading above five hundred dollars a troy ounce, about thirty-one grams. There seems to be no simple explanation for the increase in gold prices. Experts say investments...

JOHANNESBURG (Mineweb.com) -- Gold’s growing legion of supporters could be in for a testing few weeks. Bullion’s price tumbled overnight to $490 an ounce, a drop of $12 from 24 hours earlier. Insiders are not overly concerned, though, noting that the drop is being driven by a lack of interest rather than any new factors. Trading and liquidity in most investment markets are drying up as both professional and amateur punters wind down ahead of the Western World’s festive season. The overnight drop, however, dashed hopes that the recent out-performance of gold shares was a portent for another strong move...

LONDON: Heavy demand for gold from Russia, China, India, the Middle East and possibly the United States is likely to push the price up to a record high of $650 an ounce by the end of 2006. In the United States, where demand for gold is about half that of Europe, concern about the impact of the changeover at the millennium boosted gold demand in 1999, and fear could at some time be a factor again, Frank Holmes, chief executive of US Global Investors, said this week. "If fear takes hold the price of gold could jump faster than people...

Gold prices rose Monday, hitting fresh 24-year highs as investor interest in the yellow metal booms. On the New York Mercantile Exchange, spot gold was up $7.70 at $527 an ounce in morning trading. In European trading, spot gold rose as high as $541.30 an ounce. Spot gold is trading at levels not seen since 1981. Traders said the contract is testing resistance at $541.80 and $543.20, and that resistance would likely be a short-term top followed by a dip to $523.10 and $531.00. Long-term charts say that if the contract breaks through $543.20, however, it would be going for...

The price of gold has continued to rise in Asian trading, climbing to its highest level since 1981. Gains came despite concerns that the market may be set for a correction and some analysts are now predicting that prices have even higher to go. Precious metals have been given a boost as investors look to protect themselves against higher inflation and weakening currencies such as the Japanese yen. Gold climbed as high as $522.70 an ounce, before falling back. It was hovering around the $521 mark during afternoon trading in Asia. 'Dizzy high' "There's some profit-taking now, but look at...

The price of gold passed $500 an ounce last week, its highest level since the late 1980s. This is either an ominous development—or it isn't... If you'd lived a century ago, gold would have been the basis of your money. Great Britain dominated the global gold standard; its currency, the pound, was freely convertible into gold... On April 5, 1933, President Franklin D. Roosevelt ordered Americans to surrender their gold coin; the country effectively went on a paper-money standard... Higher demand collides with constricted supplies; wham, prices rise... Gold is an unending mystery, because its value lies less in what...

December 5, 2005 The market price for an ounce of gold rose to over $500 last week, a significant milestone for economists watching precious metals and commodities markets. The last time gold topped $500 was December 1987, in the wake of the “Black Monday” stock market collapse earlier that fall. Gold prices historically rise when faith in paper currencies erodes, as investors seek the intrinsic value of gold to protect themselves from inflation. It’s interesting to note that while the U.S. dollar has regained some of its value relative to other paper currencies like the Euro, it continues to lose...

As gold flirts with 20-year highs, we are hearing more from the "gold bugs" or, as they are sometimes appropriately called, the "doom-and-gloomers". Appropriately, because a gold bug's current outlook for the future of traditional financial assets such as stocks, bonds and currencies is not optimistic, particularly in the US. A gold bug traces today's financial problems back to the removal of gold backing from global currencies; without such backing, there is no limit to the amount of money that politicians and the banking system can create. Monetary inflation inevitably leads to price inflation, and creates asset bubbles and excess...

NOTHING swells the breast so much as the thought that you have been proved right at last. After riding high at the start of the 1980s, gold bugs had a miserable couple of decades. The price declined relentlessly, mocking their credo that the security of the financial system ultimately depends upon the yellow metal. Lately, though, the faithful have enjoyed their reward. In the past five years the price of gold has doubled. This week in Asian trading it briefly surpassed $500 a troy ounce—a level last breached in 1987. You can almost feel the bugs' excitement as the message...