Kitco News is back with Gary Wagner to talk about his key levels for gold and how he sees the market set up for the coming week. Last week, Wagner was looking for the $1,268 level to hold and said a breach on the downside would be negative for the gold market. "We're really seeing a [gold] market that is being driven by events as opposed to economic factors alone," he adds. On this edition of "Chart This!" Wagner will be teaching viewers how to find particular support & resistance levels in the gold market as well as look for signs as to whether or not the market is forming a base in this area... Read more
With no fresh news to propel it, gold is trading quietly lower today as we head into the weekend.
All we got out of Tsar Putin was more posturing militarily. The absurd parade that shows off Russia's military hardware every year was particularly grotesque this go round given the tense situation in Ukraine.
Only repressive governments feel the need to over-awe their people with such showboating.
On top of that, Putin's visit to Crimea was a further thumb in the eye to Ukrainians. Many other countries make plenty of mistakes internationally, but usually they do it unthinkingly... Read more
There was little in the way of hard news to drive gold far either up or down. So, we had subdued trading, which if you look only at the "normal" trading, was positive.
Gold was up about $2.50 before the strengthening dollar drove it back down to near even on the day.
The situation in the Ukraine offers us a confounding problem as investors. Of course, we want peace and an equitable settlement for all parties involved. On the other hand, no one likes to see Russia asserting its hegemony over a smaller, markedly weaker country.
We also are forced to wonder whether the "pull back"... Read more
You can't outrun the history train.
Today's market-driving news consists of two prongs, plain and simple.
The macro side of the news let us in on some details of the thinking of the FOMC, regarding where they believe the U.S. economy is going. Chairwoman Janet Yellen said that the Fed is pleased with the progress of the world's largest economy in every sector except housing.
Weakness in housing will help to keep interest rates depressed for some time. Although she offered no surprises - apparently she learned from sticking her fingers in the fire a few months ago - Yellen did... Read more