Thursday Edition
Preparing for a Market Crash
By: Rick Ackerman, Rick's Picks
We told subscribers to short the S&P futures yesterday, and although we’d ordinarily use a tight trailing stop because the trade flouts a 26-month uptrend, this time we intend to loosen up and let our profits run. For if the so far puny blip in the US dollar has caused commodities to plunge, and for stocks, finally, to give way, imagine what will happen if the dollar really takes off, causing a cosmic-sized carry-trade unwind as swift and lethal as a cobra strike.
Gold and Silver's Daily Review
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch
The dollar continues to strengthen, not the euro to weaken, because the dollar is rising against all currencies. This is distorting the picture of virtually all markets. Even the oil price is acting like a currency, with it falling as the dollar strengthens. The implications of the dollar’s moves are huge. In Asia the dollar gold price fell $15 and the silver price $2 just ahead of London’s opening. The bulk of this was adjustments to the dollar’s moves with the gold price off less than ½% in the euro at €1,050. The gold price Fixed this morning in London at $1,488.25 and in the euro at €1.050.50.
Gold Selling "Not Outpacing Buying" as Commodities Slide, Gold-Reserve Advocate Tipped for ECB Presidency
By: Ben Traynor, BullionVault
THE WHOLESALE-MARKET gold price continued to fall on Thursday morning in London – hitting a 1-week low of $1480 per ounce – as world stock and commodity markets took another tumble. Silver fell to $32.50 per ounce at the London Fix, nearly $7 down from Wednesday and 33% below the 31-year high of $48.70 set on April 28.
Gold a Bubble? Steve Forbes, Billionaire Media Magnate, Predicts New Gold Standard Within 5 Years
By: GoldCore
Gold and silver’s recovery in recent days proved to be temporary and further falls were seen yesterday (sharply in silver) prior to a tentative recovery overnight and then more falls again this morning. The euro has stabilized after recent sharp falls and euro gold at €1,050/oz remains comfortably above €1,000/oz after a period of correction and consolidation. Euro gold looks like it is set to break above record highs of €1,072/oz (12/28/10) and target €1,100/oz as the European debt crisis deepens.
Gold Price Volatility Opens Opportunities
By: The Gold Report and Peter Grandich
Why has the price of gold punched through every barrier to a record high of $1,500/oz.? The market's rigged, according to Peter Grandich, editor of The Grandich Letter. In this exclusive interview with The Gold Report, Grandich explores if it's time to unload silver and transition out of gold.
By: Rick Ackerman, Rick's Picks
We told subscribers to short the S&P futures yesterday, and although we’d ordinarily use a tight trailing stop because the trade flouts a 26-month uptrend, this time we intend to loosen up and let our profits run. For if the so far puny blip in the US dollar has caused commodities to plunge, and for stocks, finally, to give way, imagine what will happen if the dollar really takes off, causing a cosmic-sized carry-trade unwind as swift and lethal as a cobra strike.
Gold and Silver's Daily Review
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch
The dollar continues to strengthen, not the euro to weaken, because the dollar is rising against all currencies. This is distorting the picture of virtually all markets. Even the oil price is acting like a currency, with it falling as the dollar strengthens. The implications of the dollar’s moves are huge. In Asia the dollar gold price fell $15 and the silver price $2 just ahead of London’s opening. The bulk of this was adjustments to the dollar’s moves with the gold price off less than ½% in the euro at €1,050. The gold price Fixed this morning in London at $1,488.25 and in the euro at €1.050.50.
Gold Selling "Not Outpacing Buying" as Commodities Slide, Gold-Reserve Advocate Tipped for ECB Presidency
By: Ben Traynor, BullionVault
THE WHOLESALE-MARKET gold price continued to fall on Thursday morning in London – hitting a 1-week low of $1480 per ounce – as world stock and commodity markets took another tumble. Silver fell to $32.50 per ounce at the London Fix, nearly $7 down from Wednesday and 33% below the 31-year high of $48.70 set on April 28.
Gold a Bubble? Steve Forbes, Billionaire Media Magnate, Predicts New Gold Standard Within 5 Years
By: GoldCore
Gold and silver’s recovery in recent days proved to be temporary and further falls were seen yesterday (sharply in silver) prior to a tentative recovery overnight and then more falls again this morning. The euro has stabilized after recent sharp falls and euro gold at €1,050/oz remains comfortably above €1,000/oz after a period of correction and consolidation. Euro gold looks like it is set to break above record highs of €1,072/oz (12/28/10) and target €1,100/oz as the European debt crisis deepens.
Gold Price Volatility Opens Opportunities
By: The Gold Report and Peter Grandich
Why has the price of gold punched through every barrier to a record high of $1,500/oz.? The market's rigged, according to Peter Grandich, editor of The Grandich Letter. In this exclusive interview with The Gold Report, Grandich explores if it's time to unload silver and transition out of gold.
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