Free Republic

Gold Had Another Strong Night Joe WeisenthalApril 25, 2013After getting routed early last week, gold has definitely found its footing again. It had a strong night, and is now in the mid $1400s. At its worst point last week, it was just above $1300/oz. Via Kitco:

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.

The crash of the price of paper gold on Monday has unleashed an unprecedented global frenzy to buy physical gold and silver. All over the planet, people are recognizing that this is a unique opportunity to be able to acquire large amounts of gold and silver at a bargain price. So precious metals dealers now find themselves being overwhelmed with orders in the United States, in Canada, in Europe and over in Asia. Will this massive run on physical gold and silver soon lead to widespread shortages of those metals? Instead of frightening people away from gold and silver, the...

If one were to take a look at the technical signals for the market, there are plenty of reasons to be concerned here. The market came close to breaking support levels earlier this week on strong, convincing volume. Currently the market is trading below it’s 20-day moving average at 1552 and need only give up another 11 points before it’s broken its 50-day moving average. Normally that’s a cause for anxious waiting. The news on economic front continues to be worrisome as well. Slowing growth in China, European economic stagnation and mixed earnings here at home are signaling that downward...

Copper Is Looking Ugly Tonight Joe WeisenthalApril 17, 2013, 9:05 PMOne of the big ongoing stories is the selloff in commodities. Gold is the most notable loser, but industrial ones like oil and copper are taking a beating too. Copper fell all day, and continues to be weak into the evening. From FinViz:FinViz

Don’t Buy Gold By Greg Guenthner 04/17/13 Gold’s dropping. You want to buy. But wait just a minute… Is your desire to buy gold now based on reasonable analysis of market conditions? Or is it simply an emotional reaction to the selloff? Let’s turn to one of your letters for some answers: “Short-term I can understand your premise on gold,” writes a somewhat reasonable reader. “Markets are doing well so people head in that direction. But for the long-term, I’m a buyer. I think there’s a lot of inflation coming. So I’ll slowly buy in expecting lower priced and will...

NEW YORK (MarketWatch) — U.S. stocks fell hard on Wednesday, retreating after the prior day’s rally amid disappointing results from companies including Bank of America Corp. B. of A. shares slid 4.1% after the lender reported first-quarter earnings below Wall Street’s estimates as its mortgage business weighed. Caterpillar Inc.was down 2.4% after Macquarie downgraded the construction-equipment maker to neutral from outperform. At 2 p.m. Eastern, the Federal Reserve will release its Beige Book, which offers an economic analysis of its 12 districts.

Is The Takedown Of Gold A Sign That The Entire Global Financial System Is About To Crash? By Michael Snyder April 15th, 2013 Somebody out there is sure getting prepared for something really big. We have just witnessed a takedown of gold and silver unlike anything that we have witnessed in decades. On Monday, the price of gold had fallen by more than 10 percent at one point. It shocked investors all over the globe, and overall what we have just seen was the largest two day decline in the price of gold in 30 years. The price of silver...

The Market Is Flashing Signs Of 'Deep Instability' Joe WeisenthalApril 17, 2013, 7:17 AMThe big market story this morning is the selloff in Germany, which happened in a flash, and without an obvious explanation. Sebastien Galy of SocGen sees this as a sign of rising jitters and instability. It took only some speculation of a German downgrade to send the DAX plunging sharply lower, before it partially recovered. The sensitivity of different markets to negative surprises seems to have risen sharply recently, particularly in Europe and the broad EM spectrum. It suggests that the period of consolidation is continuing. Until...

Gold prices continued to plummet Monday on concern that Cyprus will have to sell excess reserves of the precious metal to raise about $522 million to help finance that country's $13 billion international bailout, Dennis Gartman, editor of The Gartman Letter, told CNBC. "There are a lot of people throwing up their hands. Throwing positions overboard. Panic is everywhere," Gartman said in a "Squawk Box" interview on Monday. "I've never seen anything like this. I mean it."Article Continues Below Gartman: Major Sell Off in Oil & Gold A look at what's driving down the prices of crude and the...